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Bitcoin (BTC/USD) Outlook – Resistance Starting to Breakdown, Ukraine Compromise Mooted


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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.

Bitcoin (BTC/USD) Resistance Holds Firm as Mid-Week Optimism Fades

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…

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