Bitcoin: Reclaims $62000 on Weak Jobs Data
Bitcoin reclaims $62000 after weak June jobs data cut Fed hike odds, adding $69 billion to crypto markets with $41 billion BTC market cap gain.
SourceAnalysis
Bitcoin reclaimed $62000 after June jobs data missed forecasts and lowered odds of a Fed rate hike, lifting the entire crypto market by $69 billion in six hours.
BTC gained 3.5 percent and $41 billion in market cap while Ethereum jumped 6.9 percent for a $13 billion increase; $600 million in leveraged positions were wiped out over the past day.
Price at $61608.8 tests the upper Bollinger band resistance at $61626.17 with RSI neutral at 61.32, so a healthy retracement toward the EMA50 support at $60507.63 looks probable before continuation, supported by the MACD golden cross and the broader bullish trend structure above the EMA200 at $65035.98.
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