Chart Of The Day: Bitcoin

By Forex Analytix (Blake Morrow )CryptocurrencyAug 05, 2022 04:05AM ET

www.investing.com/analysis/chart-of-the-day-bitcoin-200628107

Chart Of The Day: Bitcoin

By Forex Analytix (Blake Morrow ) | Aug 05, 2022 04:05AM ET

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Bitcoin has been in a bearish consolidation since mid-June below the spike low in mid-May (25,400). Bitcoin bulls should take note since we have been in a minor ascending channel since June 18. The problem bulls may have since then is that risk appetite (SPX, stocks, etc.) has rallied substantially since mid-July (see orange overlay line chart). Unfortunately for Bitcoin, it has not followed.

As we head into two key data points in the next few trading days (nonfarm payrolls today and US CPI next Wednesday) if the stock market bear market takes hold again, the risk now is increasingly for Bitcoin to revisit the 52-week lows at 17,600.

BTC/USD Daily Chart

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Abdul Rehman Aug 05, 2022 1:10PM ET

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Central Banks

Interest Rates

Next Meeting

FED

2.50%

Sep 21, 2022

ECB

0.50%

Sep 08, 2022

BOE

1.75%

Sep 15, 2022

SNB

-0.25%

Sep 22, 2022

RBA

1.85%

Sep 06, 2022

BOC

2.50%

Sep 07, 2022

RBNZ

3.00%

Aug 17, 2022

BOJ

-0.10%

Sep 22, 2022

CBR

8.00%

Sep 16, 2022

RBI

5.40%

Sep 30, 2022

PBOC

2.75%

BCB

13.75%

Sep 21, 2022

US 30	33,952.5	-27.8	-0.08%
US 500	4,268.9	-5.1	-0.12%
Dow Jones	33,980.32	-171.69	-0.50%
S&P 500	4,274.04	-31.16	-0.72%
Nasdaq	12,938.12	-164.43	-1.25%
S&P 500 VIX	19.90	+0.21	+1.07%
Dollar Index	106.540	+0.152	+0.14%

Crude Oil WTI	87.55	+0.05	+0.06%
Brent Oil	93.05	+0.71	+0.77%
Natural Gas	9.200	+0.019	+0.21%
Gold	1,777.70	+0.40	+0.02%
Silver	19.740	-0.005	-0.03%
Copper	3.5875	-0.0002	-0.01%
US Soybeans	1,390.00	+9.00	+0.65%

SPDR S&P 500	426.65	-3.05	-0.71%
iShares Russell 2000	197.61	-3.38	-1.68%
Invesco QQQ Trust	328.49	-3.79	-1.14%
Direxion Daily Junior Gold Miners Bull 2X Shares	32.73	-3.16	-8.80%
iShares Silver	18.25	-0.32	-1.72%
ProShares Ultra VIX Short-Term Futures	8.94	-0.04	-0.45%
ProShares UltraPro QQQ	37.30	-1.34	-3.47%

Apple	174.55	+1.52	+0.88%
Alphabet A	119.55	-2.15	-1.77%
Tesla	911.99	-7.70	-0.84%
Amazon.com	142.10	-2.68	-1.85%
Netflix	241.15	-4.54	-1.85%
Meta Platforms	174.85	-4.62	-2.57%
Bank of America	36.41	-0.23	-0.63%

Chart Of The Day: Bitcoin

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