Bitcoin Slows Plunge Below $40K, Whats the Best Point for a Pullback? - BitcoinEthereumNews.com
BTC trends to the downside on the daily chart. Source: BTCUSD Tradingview Yuya Hasegawa, analyst for Bitbank, attributes BTCs price recent price action to the Russia-Ukraine situation. In that sense, the analyst expects potential relief as the U.S. Secretary of State Antony Blinken and the Russian Minister of Foreign Affairs Sergey Lavrov scheduled a phone call for next week. This could tone down the tensions around the situation at the border. On top of that, the analyst claims Bitcoin is sitting at “ample technical support” which could protect its price from further downside. However, is a long weekend in the U.S. which usually leads to potential periods of high volatility driven by low trading volumes across the crypto market. Hasegawa said talking about BTCs price immediate and medium-term potential headwinds: We still have the January U.S. PCE, February jobs report, and CPI until the March FOMC meeting, so it is safe to say that, depending especially on these inflation data, the worst may be still ahead of us, and even if the price rebounds from the current level in the short term, upside is likely quite limited unless the Russian military shows some signs of retreating. The macro-situation seems to occupy everyones attention. A separate