Photo by André François McKenzie on Unsplash
Bitcoin (BITCOMP) heading slightly higher with support off the monthly bracket lows while the rate against the dollar trending lower since about three months. This is giving the cryptocurrency a potential rotational and mixed view for the lower periodicites with the current geopolitical situation.
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The daily perspective found support around the Quarter’s lower standard deviation level and the left a buying tail. The rate established a balanced price range and traders might be leaning on the extremes with slight support off the current bracket lows. The Quarterly VWAP serving as resistance for now. The market rotates depending on the news stream.
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The hourly found some selling around the VWAP close level while the other two might be serving as area of interest, depending on the reaction around them. Current DVAL could emerge as supportive level on the way to lower price rate levels.
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