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Bitcoin Buffeted by Fed Hawkishness: BTCUSD Slips to USD 69,500 Amid Risk-Off Shift

 

BTCUSD gave back much of its earlier gains following hawkish remarks from the Fed, which dampened appetite for riskier assets. At the moment, it’s trading near $69,656, having hit an intraday low around $69,500.

Technicals

CMP -$69500

Trend

4- Hour chart

Value

 

 

55 EMA

$71164

CMP < 55 EMA

Bearish

200- EMA

$71073

CMP < 200- EMA

Bearish

365- EMA

$74251

CMP < 365 EMA

Bearish

 Major support- $67000/$64000/$60000/$52500/$50000. Minor bullishness only above $72500. Any break above targets $76200/$80000/$85500.

Momentum indicator (4-hour chart)

Inference

Value

CCI(50)

Bullish

110.98

ADX

Neutral

 

It is good to buy on dips around $67000 with SL around $64000 for a TP of $80000.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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