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Bitcoin Prices Lag Behind Tech Heavy Nasdaq Ahead of Major Earnings

Bitcoin Prices Lag Behind Tech Heavy Nasdaq Ahead of Major Earnings

Bitcoin News and Analysis

  • Bitcoin prices flat ahead as NASDAQ, S&P and DJI rise
  • BTC/USD oblivious to fundamental risks as technical levels hold
  • US tech giants prepare for the release of Q3 earnings while consumer confidence for October falls short of expectations

Recommended by Tammy Da Costa

Get Your Free Bitcoin Forecast

As the longer-term downtrend remains constructive below the 2017 high of $19666, Bitcoin volatility has subsided, driving price action into a narrow range. With US Dollar dominance driving sentiment throughout the year, Fed rate hikes and diminishing growth forecasts have remained the primary catalyst for risk assets.

However, with major tech giants Microsoft and Alphabet expected to release Q3 earnings later today, Apple, Amazon and Facebook will be reporting later this week.

While resilient earnings boosting NASDAQ, S&P 500 and Dow Jones, Bitcoin has failed to make any major moves outside of the recent range.

Bitcoin (BTC/USD) Daily Chart

Chart prepared by Tammy Da Costa using TradingView

Recommended by Tammy Da Costa

The Fundamentals of Range Trading

Provided that bears manage to drive prices below the 18000 psychological level, a retest of the June low at 17592.78 and a break of 16000 could pave the way for bearish continuation back towards 14000.

Bitcoin (BTC/USD) Four-hour Chart

Graphical user interface, chart  Description automatically generated

Bitcoin Key Levels

Support Resistance
S1: 18183 (Current monthly low) R1: 19666 (Dec 2017 high)
S2: 17792.1 (78.6% Fib 2020 – 2021 move) R2: 20000 (Psych level)
S3: 17592.78 (June low) R3: 22718 (September high)

— Written by Tammy Da Costa, Analyst for

Contact and follow Tammy on Twitter: @Tams707


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