BTC sees a 'hard rejection' at $30,400, leading to a painful hourly candle.
in a further tweet about the four-hour 200-period moving average and exponential moving average.
“So far, the bounce has not been very convincing yet and the lower timeframes are extremely choppy. $30.5K and $29.5K remain my levels of interest in the short term.”On-chain monitoring resource Material Indicators meanwhile noted the significance of the 21-day SMA, suggesting that a temporary peak may be in for BTC/USD.
“A hard rejection from technical resistance at the 21-Day Moving Avg and more asks stacking at $31k could indicate things are getting toppy for the moment,” part of the July 20 analysis“Bulls need to regroup here and gather the herd if they want a legit chance to stampede past those sell walls.”a lack of bid liquidity immediately below the $30,000 mark.Labor market data boosts U.S. dollar
Macroeconomic events on July 20 meanwhile focused on strong tech earnings along with a slowdown in United States jobless claims.The impact on the U.S. dollar was pronounced, with the U.S. Dollar Index gaining ground to near 101 for the first time in several days. “So today, Initial Jobless Claims was less than previous & forecasted so the trajectory expected for increasing layoffs is slower ,” popular trader SkewCointelegraph previously wrote aboutThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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