(DAILY NOTION): BTC/USD – Currently Showing Bullish Trend, Next Mover: BREXIT, U.S. Stimulus, FOMC Meeting
BTC/USD previous close was at $19,206.12, pointing towards a bullish breakout. This could pave the way for a price of $19,914 and potentially the $20,000 level. The Relative Strength Index (RSI) is at 44, at time of writing. Analysts predict that the RSI could cross the 60 level, providing room for additional gains.
Although the market is predominantly showing a risk-on sentiment following positive vaccine news, two major events on the cards this week are the outcome of the Brexit deal as well as the U.S. stimulus package.
The Federal Open Market Committee (FOMC) meeting on Wednesday, Dec 16 would also be of interest to traders as the rate statement would give clues into the Federal Reserve’s take on the U.S. economy.
Other than the above, traders would also be keeping a close eye on the successful distribution of vaccine throughout the U.S., against a backdrop of rising cases. The Pfizer/BioNTech vaccine is expected to begin shipping on Monday.
A risk-on sentiment could lead investors back into the safe-haven gold, which would not be good news for BTC/USD.
BTC/USD (as of Dec 14, 2020, 1:30 p.m., GMT +8) - $ 19,097.93
Edited 14 Dec 2020, 13:32
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