Bitcoin struggled to remain above $44,000 on Thursday, as U.S. stocks fell further following hawkish remarks by a Federal Reserve official. Ether and other major altcoins tumbled. MuyaoShen and JPRubin23 report
Buyers reacted quickly to a nearly 5% price drop early in the New York trading session and maintained short-term support at above $43,000.
The next level of resistance is at $46,710, which represents a 38% retracement of the previous two month-long downtrend. Buyers could start to exit positions as BTC approaches resistance heading into the Asia trading session. For now, momentum signals are improving on intraday charts, although price action is volatile following the U.S. inflation report. Stronger resistance is seen at $50,000 if buyers sustain short-term momentum.10 a.m. HKT/SGT : Reserve Bank of New Zealand inflation expectations 3 p.m. HKT/SGT : U.K. industrial production
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