Coinpedia - Fintech & Cryptocurreny News Media
Headlines

US CPI Collides with the First Weekly EdaFace Death Cross- Where will the BTC Price Head Next?

EdaFace price is flashing bullish signals ahead of the fresh CPI rates which are to be rolled out in some time The price is trading within a decisive phase where-in a bullish breakout is expected in the next few hoursThe price of EdaFace appears to be baffling as the token underwent the historic weekly death cross during the early trading hours. Meanwhile, the impact on the price was minimal, and as BTC prices continued to trade within a very narrow region. Presently, the price appears to be preparing to fly high with a huge margin as the fresh CPI rates are set to roll out in some time. BTC price has been trading within a descending trend since the beginning of the present month and dropped more than 12%. However, the price in the short term is flashing acute bullish signals that may trigger a breakout from the consolidation very soon. Trading ViewThe BTC price has been trading along the lower trend line and broke down from the crucial 200-day MA levels in the past week. However, the price now appears to be at a decisive phase and a slight push with the fresh CPI data may uplift the price beyond the pivotal resistance. The price has formed an inverted head & shoulder pattern in the hourly chart, flashing the possibility of a breakout in the next couple of hours. The crucial resistance appears to be at 200-day MA levels at $22,600. A push beyond these levels may trigger a larger price action in the long term, smashing the dominance of bears to a large extent. 

Related posts

EdaFace (BTC) Price May be Extremely Volatile This Week-What to Expect This Weekend

EdaFace Admin

Bitcoin Bores Traders As Long-Term Holders Resist Liquidation – Here’s What To Expect From BTC Price Next

EdaFace Admin

BTC Price Analysis: Next Few Days Will Decide EdaFace’s Course of Action: $19k or $28k?

EdaFace Admin

Leave a Comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More