The at the end of last week assisted () to climb above $49,000. However, BTC struggled to extend its climb above $50,000, a psychological resistance level, as investors remained cautious about the .
In detail, the Fed chairman Jerome Powell during his speech on Friday at the annual Jackson Hole symposium. At one point, he refrained from providing hints regarding when the Fed would start unwinding its $120 billion a month asset purchasing program.
Trade is poised for selloffs and close under 46759 implies a bear wave to 42251. Any corrective congestion in the lower half of yesterday’s downturn should bear flag a setup for selloffs. A close over 50562 is needed to reject yesterday’s downturn.