BUZZ-Bitcoin falling on the sword of volatility
- Date: 28-Jan-2022
- Source: Zawya
- Sector:Financial Markets
- Country:Middle East
BUZZ-Bitcoin falling on the sword of volatility
* Bitcoin market continues to display bouts of indecision: FOMC not helping
* Volatile price action since peaking at $44,456 on January 13
* A series of daily Doji candlesticks with long upper-lower shadows noted
* Geopolitical risk and heightened sensitivity towards interest rates cited
* Coin's crown, perceived hedge against inflation, is beginning to slip
* Spike low of $32,950 Mon and rebound high of $38,946 Wed ahead of FOMC
* 10DMA above at $37,994 and smoother tracking 21DMA at $40,469
(Peter Stoneham is a Reuters market analyst. The views expressed are his own) (([email protected]))