Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

Bitcoin’s dull price action ignites buying interest in LINK, FIL, SNX and THETA

Published 07/23/2023, 02:10 PM
Updated 07/24/2023, 03:00 AM
© Reuters.

Bitcoin (BTC) is struggling to rise above the overhead resistance at $31,000, but a minor positive is that the bulls have not allowed the price to dive below the $29,500 support. This suggests that a catalyst may be needed for the price to break out from its range.

On the macroeconomic front, the Federal Reserve’s meeting son July 25 and 26 are important events to keep an eye on. The FedWatch Tool shows a 99.2% probability of a 25 basis point rate hike in the meeting. If that happens, the markets may not witness a knee-jerk reaction as the hike seems to have been priced in. However, any surprise move by the Fed could thrust the price out of the range.

Crypto market data daily view. Source: Coin360
BTC/USDT daily chart. Source: TradingView
BTC/USDT 4-hour chart. Source: TradingView
LINK/USDT daily chart. Source: TradingView
LINK/USDT 4-hour chart. Source: TradingView
FIL/USDT daily chart. Source: TradingView
FIL/USDT four-hour chart. Source: TradingView
SNX/USDT daily chart. Source: TradingView
SNX/USDT four-hour chart. Source: TradingView
THETA/USDT daily chart. Source: TradingView
THETA/USDT 4-hour chart. Source: TradingView

Continue Reading on Coin Telegraph

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.