Bitcoin (BTC/USD) Chart and Analysis
- Bitcoin (BTC) is back in the $39.6k to $42k resistance zone.
- Russian commentary that a compromise in Ukraine may be possible lifts optimism.
Risk markets are getting a lift higher this morning on the back of a series of releases from Russia that a compromise with Ukraine may be forthcoming. According to RIA sources, Russia has said that the idea of creating a demilitarized Ukraine like Austria with its own army ‘could be seen as a compromise’ has boosted risk-on assets, including the cryptocurrency space
Bitcoin is now back in a noted zone of resistance that has held the cryptocurrency back over the last few weeks. While the gains are so far limited, a break, close, and open above $42k would be seen as a positive for BTC and open the way for a move back to a brace of prior highs just under $46k.
While the technical outlook is looking more positive for Bitcoin, tonight’s FOMC policy decision may pour cold water on the move. The markets are fully prepared for Fed chair Jerome…