Investing.com – After falling sharply on Wednesday, then deepening its decline to a low of $36,280 yesterday afternoon, penalized by the fall in technology stocks and by the ECB meeting deemed slightly more hawkish than expected, the se resumed last night.
After the shock of the disappointing results of Meta Platforms (NASDAQ:) on Wednesday evening, and after yesterday, which played a big role in the wave of risk aversion, several quarterly results published after the close of the US markets have restored investor confidence.
We note in particular , whose profits far exceeded expectations, which caused a rise of more than 14% of the action in after-market exchanges, which will be more than enough to compensate for the capital loss of Facebook yesterday, if the increase is confirmed today.
Snap (NYSE:) results were also , with the stock soaring 60% after the market, as were Pinterest (NYSE:), which helped the stock gain more than 20% last night.
In other words, after yesterday’s close fell nearly 4%, expect a powerful rebound this Friday, which Bitcoin is already pricing in. BTC/USD indeed peaked at $38,260 this morning, up 5.5% from yesterday’s low.
From a technical point of view, however, this is not enough to improve the situation for Bitcoin. The cryptocurrency remains stuck below the downward trend line visible in daily data since the November high. Overall, only a return above $40,000 would start to significantly improve Bitcoin’s profile in daily data.
On the downside, the first supports to take into account are at $36,500 and $35,000, before the 2022 annual low around $33,000, then the major psychological threshold of $30,000.
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