Bitcoin [BTC] – BTC/USD pair isin a veryminor pullbacksituationever since and iscurrently trading at a price at $6313.54 USD. Indistinctionto the Asian session,the Europeanhourstodaywitnessed lower volume. It pushed theBTC/USD pairinto aslendertradingrangealtogether,leavinglittle-to-nospacefor day tradersto seek intraday opportunities.
TheUSDIndex [DXY], onthe oppositehand, camebelowsomemarketingpressure,currently retesting a keysupport levelat 96-fiat. The uncertainty comes from the US-China’s potential trade talks thatareto happen at the G20 gathering in Argentina atthe endof the month. The index was anymannertrading higherthroughoutthe primaryhalfof the weekbecause of thenegative sentimentswithin theEuropean markets stemmed from political uncertainties inGermany.
BTC/USD Pair Technical Analysis
There wasa quickplan toinvalidate a keypessimistictrend-linerepresentedin bluewithin thecharthigher than.HoweverBitcoin [USD] – BTC/USD pair pullbackvalidatedagentlysturdymarketingsentimentclose tothatspace. As of now, the bullsdon’t seem to begiving upandare tryingto interrupthigher thanthesaidtrendline,thatmightpermit thepairto gain further momentum towards $6421 USD fiat,consequentupper sidetarget for day traders. Itought tobepotentialonce Bitcoin [BTC] – BTC/USD pair moveshigher thanits 100-hourstraightforwardmoving average, with a run towards the 200-hour moving averagevisible–which mightsomewhat coincide with $6421 USD fiat.
The RSI momentum indicator, meanwhile, has rocketedwithinapurchasingsentiment region. The Stoch, atconstanttime, is already overbought and iswatchinglower correction.
Overall, the interim bias of the Bitcoin [BTC] market isoptimistic.