Crypto
Bitcoin Seeks Fresh Rally on Breakout Support
Bitcoin's recent price action has been marked by indecision, as evidenced by a series of doji candlesticks over the past couple of days. However, yesterday's white candlestick above $82.5K breakout support suggests that another rally may be on the horizon.
The 200-day MA of the BTC index is also being closely watched, with some analysts noting that it has converged at horizontal support, also at psychological $50K support. If this level holds, a move to $52K and beyond could be possible.
Other assets, such as the Russell 2000 and the S&P 500, are not faring as well. The Russell 2000 is deeply oversold on net bearish technicals, while the S&P 500 has been posting steady losses on net bearish technicals.