Midday rally pushes Bitcoin to $17,302 while stocks break their 5-day losing streak

  • 📰 KitcoNewsNOW
  • ⏱ Reading Time:
  • 47 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 78%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Bitcoin BTC Bitcoinprice crypto Midday rally pushes Bitcoin to $17,302 while stocks break their 5-day losing streak

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

And it wasn’t just the crypto market that saw positive moves as the major stock market indices snapped a five-day losing streak to post positive gains despite ongoing concerns about continued interest rate hikes and the possibility of a recession. At the close of markets, the S&P, Dow and Nasdaq all finished in the green, up 0.75%, 0.55%, and 1.13%, respectively.

The current price action is providing little insight into what comes next for Bitcoin, meaning “The direction in which BTC prices break out of the present trading range will very likely be the direction of the next trending price move,” according to Wyckoff.

“This is a bearish sign because multiple closes below support, on the 4 hour time frame, suggests it will continue to fall,” he said. “In addition, there is a key upwards sloping trendline that, if broken, could give an additional indication that we could revisit the low of $15,600.”

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 13. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines