Bitcoin (BTC) ended a 3-day shedding streak on Saturday. The upside was modest, nonetheless, as geopolitics continued to peg again Bitcoin and the broader market. News updates on Russia and a doable invasion of the Ukraine left Bitcoin range-bound on the day. Following a 1.36% fall on Friday, Bitcoin rose by 0.28% to finish the day at $40,107.
It was a combined session for the remainder of the crypto prime 10, nonetheless.
Avalanche (AVAX) joined Bitcoin within the inexperienced, rising by 1.51%, with Solana (SOL) and Cardano (ADA) rising by 1.58% and by 0.10% respectively. Terra (LUNA) additionally prevented the purple, rising by 0.49%, with Ripple (XRP) rallying by 4.85%. Ethereum (ETH) ended the day down by 0.56%.
Bitcoin Worry & Greed Index Continues Upswing
Following Saturday’s slide again to 25/100 and fall into the Excessive Worry zone, the Bitcoin Fear & Greed Index rose to 27/100 and again into the Worry zone this morning. The modest enhance got here despite ongoing issues over a Russian invasion of the Ukraine.
For the Bitcoin bulls, the Index might want to transfer again by means of final week’s 54/100 excessive to convey $50,000 ranges again into play for Bitcoin. A fall again by means of to sub-20/100 would convey sub-$30,000 ranges again into play.
Bitcoin Value Motion
On the time of writing, Bitcoin was down by 0.39% to $39,950. A transfer by means of the day’s $40,079 pivot would help a run the primary main resistance degree at $40,493. Within the occasion of an prolonged rally, Bitcoin might check the third main resistance degree at $41,679 and resistance at $42,000 earlier than any pullback. The second main resistance degree sits at $40,879.
Failure to maneuver by means of the pivot would convey the primary main help degree at $39,693 into play. Within the occasion of an prolonged sell-off, Bitcoin might check the third main help degree at $38,479. The second main help degree sits at $39,279.
Wanting on the EMAs and 4-hourly candlesticks (beneath), the sign has turn out to be but extra bearish. Bitcoin continues to sit down effectively beneath 50-day EMA, which has converged on the 100-day and 200-day EMAs in a single day. On Saturday, we noticed a bearish cross, with the 100-day EMA crossing by means of the 200-day EMA. A bearish cross of the 50-day EMA by means of the 100-day the 200-day EMAs would convey sub-$39,000 into play.
For the bulls, a Bitcoin transfer again by means of the 100-day EMA, presently at $41,600, would supply some help.