Bitcoin price climbs to $17,565 ahead of tomorrow's CPI report

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

The S&P, Dow and Nasdaq benefited from the positive mood of traders on Wall Street as all three indices finished the day well into the green, up 1.28%, 0.80% and 1.76%, respectively. With the BTC price now above key resistance at the 50-day moving average, traders have begun to adopt a more positive outlook while simultaneously acknowledging the possibility of another drop in the market remains a possibility.

“Normally we see a run on liquidity on both sides and this could easily stop you out,” analysts warned. “Looking at the 1-hour chart of Bitcoin we can see that we are consolidating [...] From a long position perspective I would say that the area around $16.9-17K is the zone where you want to get in position.

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Investors await two key events; Powell’s speech and December's CPIExclusive to Kitco News, technical analyst Gary Wagner provides a daily recap of what happened in the gold market, highlighting important events that captured investors' attention during the U.S. trading session. Wagner's commentary features a mix of fundamental news and technical analysis, noting important support and resistance levels.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Bitcoin digs in for a bumpy new yearCryptocurrencies remain at the mercy of macroeconomic headwinds
Source: globeandmail - 🏆 5. / 92 Read more »

Bitcoin Jan. 10 daily chart alert - Bulls making headway
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »