Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.
The crypto market is anticipating the release of an important macroeconomic report that could dictate the direction of asset prices.
In light of this, what do analysts think, and how could this impact the price of Bitcoin?
Bitcoin Price Action
Currently, the leading cryptocurrency trades at $18,902, a 5.76% downtrend in the past 24 hours. However, its weekly performance depicts a loss of 0.50%.
Bitcoin’s performance has affected its technicals. The asset currently trails its major moving average (MA) indicators, although it trades above the 10-day MA of $18,900. With the market in a bearish position, BTC is expected to slip below that line soon.
BTC’s moving average convergence divergence (MACD) is also negative, giving off a sell signal. However, long-term investors can take solace in the asset’s relative strength index (RSI) of 45.21,...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...