Analyzing the current landscape, popular trader and analyst Rekt Capital focused on a similar reclaim of the 200-day exponential moving average (EMA).“Bitcoin has most recently Daily Closed above the 200 EMA and in fact is now in the process of retesting it into new support,” he wrote in part of his latest content on X, calling the trend line a “long-term gauge of investor sentiment towards BTC.”BTC/USD 1-day chart with 200 SMA, EMA.
Source: Cointelegraph/TradingViewA further X post revealed a more impressive feat from bulls, with the daily chart showing a breakout from a downtrend on Bitcoin’s relative strength index (RSI) — something in place since November 2024.“Bitcoin has broken the Daily RSI Downtrend dating back to November 2024,” Rekt Capital confirmed.BTC/USD 1-day chart.
Policymakers downgraded economy growth projections to 1.7% (a 0.4% reduction), while raising their inflation forecast to 2.8%, signaling a growing risk of stagflation,” it wrote in its latest bulletin to Telegram channel subscribers.“Additionally, the Fed's dot plot revealed a more hawkish shift from the one in December, with the number of officials forecasting no rate cuts in 2025 increasing to four.”Fed target rate probabilities for June FOMC meeting.
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Author / Journalist: Cointelegraph by William Suberg
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