Feb23 #Bitcoin:
As mentioned from yesterday’s chart, BTC gave a very good bounce from the support and jumped close to $39000. We suggested to open LONG trades and produced very good results as Bitcoin’s price went up by nearly $2500. On the chart, $39000-$39500 now works as a resistance area and $36200 as a support.
Crypto and Global markets bounced in the last 24 hours after Biden had a conference last night. We also did not hear any further negative news regarding the issue between Russia vs Ukraine which resulted in a small bounce.
We have to closely watch the Russia vs Ukraine situation which can influence the market in either direction.
FED interest rate hikes will be another topic which creates speculation in the market for the coming days.
Bitcoin Option Expiry on Feb 25 which the max pain point is $40000 as per Deribit Data.
If you followed our call yesterday, let us know! Glad to be sharing our analysis with all of you!
