BTCUSD

Despite the positive macroeconomic environment created by a weakening dollar and falling interest rate expectations, Bitcoin has not yet fully reflected this sentiment in its pricing. Technically, BTCUSD is trapped around the pivot level of 106,565 and is showing an indecisive trend, searching for direction between the levels of 107,518 (Resistance 1) and 103,989 (Support 1). The long-wicked indecisive candles on the chart indicate that a clear direction cannot be determined in the market, and it can be expected that the sideways movement will continue unless the price breaks out of this band.