- BTC/USD capped by DMA50 at $6,450.
- Bitcoin futures expired will no impact on the market.
One Bitcoin goes for $6,400; the price of the largest digital asset has not changed in recent 24 hours as the market volatility dropped to the lowest level sice March 2017.
On the daily chart, BTC/USD is capped by DMA50, currently at $6,450. We need to move above this hurdle before the recovery can gain traction with the next aim at $6,550 (the upper border of the recent channel), abd $6,600. Meanwhile both daily Relative Strength Index (RSI) and Momentum indicator are flat. which implies that the breakthrough ay not be coming soon.
On the downside, $6,330-$6,300 may stop the decline for the time being. The market will nedd a good trigger to extend a sell-off towards a strong congesion zone of $6,230.
CME Bitcoin futures expiration produced no effect on Bitcoin as the coin is glued to $6,400. This market is listless, while a month ago the upcoming futures settlement sparkled some volatility.
What’s more, the stock market carnage did not have any impact on cryptocurrencies as the industry decoupled from the rest asset classes.
BTC/USD, 4-hour chart
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