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Investing.com – Still no change in the immediate trend for , with the cryptocurrency continuing to trend sideways in a particularly tight range for the 7th day in a row.
Remember that after a bout of weakness at the beginning of last week, in connection with accusations by the Wall Street Journal against Binance about old wash trading operations, Bitcoin had ignored a particularly busy economic program.
Indeed, the cryptocurrency showed no clear reaction to the Fed’s ECB meeting, nor did it lag behind Friday’s below-consensus US inflation numbers.
Going into the new week, global markets’ attention will be focused on the US labor market, with the ADP (EPA:) and NFP reports, which could cement as well as challenge expectations of a break. of the Fed for the next meeting in September.
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However, given Bitcoin’s lack of reaction to the key events of the past week, it cannot be ruled out that BTC ignores this week’s key data as well.
In this context, we will therefore also remain attentive to any news specific to the world of cryptocurrencies, whether with regard to the SEC’s crusade against the industry, or speculation on the imminent launch of an ETF. bitcoin spot.
Technical thresholds to watch on Bitcoin
From a chart perspective, Bitcoin’s immediate trend is lackluster, as we highlighted above.
In case of weakness, the $29,000 area, which corresponds to last week’s low, will be the first potential support to consider. Then the 100-day moving average at $28,480 will come into play, before the $28,000 threshold.
Finally, in the event of a cryptocurrency rebound, the resistances to watch are located at $30,000, $31,000, and on the annual high of $31,800.