Are you ready to take your cryptocurrency trading to the next level? At Extreme Investor Network, we provide expert analysis and insights to help you navigate the ever-changing world of Bitcoin and other digital assets.
Recent trends in personal income and spending, along with US inflation numbers, are impacting the Federal Reserve’s potential rate cuts in 2024. This news has the potential to shake up the market and open new opportunities for savvy investors.
In our Technical Analysis section, we dive deep into Bitcoin’s current state. BTC is currently hovering below the 50-day EMA while staying above the 200-day EMA. This indicates a bearish near-term outlook but a bullish long-term perspective. A breakout above the 50-day EMA could lead to a rally towards the $69,000 resistance level, with further potential gains to the $70,000 mark.
Don’t miss out on the US Personal Income and Expenditures Report and BTC-spot ETF flow data this Friday, as they could significantly impact Bitcoin’s price movements. Keep a close eye on the $64,000 support level, as a break below could bring the $60,365 support level into play. And with the 14-Daily RSI reading at 45.94, we may see BTC drop further before reaching oversold territory.
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