After price broke out yesterday the momentum seems to have stalled. 8,550 seems to be the new support and traders are looking to see if it will hold. Bitcoin broke out of a major consolidation zone yesterday but the bulls have gone missing. The news that the SEC rejected the Bitwise ETF may have soured the mood. Now the price is still above the value area represented on the right-hand side of the chart. This is still a bullish signal and a retest may occur before a move higher. The relative strength index (RSI) indicator is still looking positive also but it has not reached the oversold area so there still may be some room for a further upside move. The candlesticks on the four-hour chart have rejected the downside but there seems to be some conviction missing from the bulls. The next resistance target on the way up is at 9,321.73 and on the downside lookout for 8,535.00 for support. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Forex News Today: Daily Trading News share Read Next Gold bulls tiring on the 1500 handle as trade talk sentiment flips positive FX Street 4 years After price broke out yesterday the momentum seems to have stalled. 8,550 seems to be the new support and traders are looking to see if it will hold. Bitcoin broke out of a major consolidation zone yesterday but the bulls have gone missing. The news that the SEC rejected the Bitwise ETF may have soured the mood. Now the price is still above the value area represented on the right-hand side of the chart. This is still a bullish signal and a retest may occur before a move higher. The relative strength index (RSI) indicator is still… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
