
Will Bitcoin ETFs attract more regulatory attention to the crypto industry? We can only hope, because many questions need to be answered.
Will Bitcoin ETFs attract more regulatory attention to the crypto industry? We can only hope, because many questions need to be answered.
Bitcoin (BTC/USD) moderated after recent gains early in the Asian session as the pair fell back below the 27000 figure after peaking around the 27313 area, representing a failed test of an upside price objective related to buying pressure around the 24900 and 25983.78 levels. Technical support that emerged around the 26661 area during a pullback established the 27567, 27941, 28404, and 29151 areas as upside price objectives. Above the market, areas of technical resistance and potential selling pressure include the 27559, 27701, 27936, 28029, 28189, 28306, and 28381 levels. Bearish technical risk remains intact and could result in a test of additional downside price objectives around the 25815, 25775, 25668, 25645, 25598, 25331, and 24899 areas.
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Bitcoin (BTC/USD) maintained some positive momentum early in the Asian session as the pair sought to sustain another break above the 27125.53 area, a previous downside price objective associated with selling pressure around the 31862 and 30222 levels. Buying pressure strengthened around the 25983 area during a pullback, pushing BTC/USD as high as the 27313.86 area. Above the market, areas of technical resistance and potential selling pressure include the 27559, 27701, 27936, 28029, 28189, 28306, and 28381 levels. Bearish technical risk remains intact and could result in a test of additional downside price objectives around the 25815, 25775, 25668, 25645, 25598, 25331, and 24899 areas.
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