Results for: Moving Average

After reaching an all-time high in mid-March, Bitcoin has been trading in a range between $60,000 and $72,000. Recently, the price has broken below the $60,000 support, signaling potential further downside before the long-term uptrend resumes. Technical indicators, such as the Fibonacci retracement levels, the 50-day moving average, and the RSI, indicate a shift from a bullish to a bearish phase. While a confluence of support exists in the $50,000 to $52,000 range, the short-term outlook favors further weakness.

The EURUSD currency pair initially declined after the release of higher-than-expected US inflation data, which was part of the GDP report. This drop brought the price below the 38.2% retracement level of 1.0709 and towards its rising 100-hour moving average at 1.06786. However, support buyers stepped in at this moving average and pushed the price back upwards. To maintain a bullish outlook, the EURUSD needs to remain above the 38.2% retracement level and potentially target a swing area up to 1.07314. However, the price encountered resistance today near the 50% midpoint of the April trading range at 1.07425.