The current market conditions are marked by low trading volume, indicating uncertainty between bullish and bearish forces. MACD crossover is losing bearish momentum.
The bulls need a high volume move to break the MA 100 for the bullish confirmation, while a sustained breakdown of the horizontal support would be a bearish sign.
BTC got rejected after doing a fake out above the MA 200 and couldn't able to reach the descending trendline. Currently, it is trying to hold above the horizontal support.
MACD crossover and the RSI are showing neutral signs as volume is very low in the market. A good volume bounce and breakout of the descending trendline would be the bullish confirmation, while a sustained breakdown would be a further correction sign.
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The US dollar got rejected from the horizontal resistance and is currently retesting above the descending triangle and the MA 200. MACD crossover is turning bearish and RSI is moving toward the oversold region.
A failed retest and breakdown of the MA 200 would be the bearish confirmation, while a solid breakout of the horizontal resistance would be the bullish confirmation. We've to note that it usually works inversely proportional to the market.
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SOL is moving in a falling wedge. Currently, it is facing the Ichimoku cloud and the MA 50 resistance. RSI is moving toward the overbought region. A solid breakout of the falling wedge would be the bullish confirmation, while a rejection would result in further movement inside the falling wedge.
The Federal Court ruled that Grayscale's petition for review be granted and the SEC's order be vacated, in accordance with the opinion of the court filed here in this date. SEC must review its rejection of Grayscale Investments' attempt to convert the Grayscale Bitcoin Trust (GBTC) into an ETF. BTC soared 4.1% in one hour.
RAO, Circuit Judge: The denial of Grayscale's proposal was arbitrary and capricious because the SEC failed to explain its different treatment of similar products. We therefore grant Grayscale's petition and vacate the order.