Minha Bitcoin (BTC) fell 0.67% on Sunday. BTC concluded the week up 1.56% to $26,358 after gaining 0.67% on Saturday. Significantly, BTC ended a three-day gaining streak while avoiding a second consecutive session below $26,000.
BTC rallied to a late-session high of $26,729 after a rocky start to the day. However, BTC plummeted to a low of $26,276 after failing to reach the First Major Resistance Level (R1) at $26,861. BTC found late support to conclude the session at $26,358 after avoiding the First Major Support Level (S1) at $26,276.
The headwinds: SEC v Binance and SEC v Ripple Uncertainty Weighed
There were no crypto happenings to influence investor sentiment on Sunday. Due to the lack of crypto events, investors were able to lock in profits ahead of another hectic week in the crypto market.
Investor concern over the current SEC v. Ripple case, as well as the SEC’s move against Binance, has put BTC on the defensive.
Bearish Fed rhetoric and growing wagers on interest rate rises in the coming months also add to such headwinds.
Forecast
Looking at the EMAs and the 4-hourly candlestick chart (below), the EMAs sent bullish signals. BTC sat above the 100-day EMA ($26,298). The 50-day EMA closed in on the 100-day EMA, with the 100-day EMA narrowing to the 200-day EMA, sending bullish signals.
Our expectation for BTCUSD for the coming days is a move upside after correction.
