Bitcoin trades at $19,781 after gaining $444.16 (2.3%).
United States's Consumer Confidence new data released of 102.5 below its previous figure.
On the flip side, highly important Consumer Confidence data from United States beat analyst expectations of 106.5 with a reading of 102.5.
At the same time, United States S&P/CS HPI Composite – 20 n.s.a. (YoY) (Aug) released today at 13:00 UTC with a figure of 13.1, while the previous figure was 16. United States Services PMI came out at 46.6, while a consensus of analysts was expecting 49.2.
Chart analysis suggests Bitcoin broke through the $19,570 resistance, climbing $211 above it. With regards to technical trend indicators, chart analysis show that Bitcoin made an initial breakout above its 50 day Simple Moving Average at $19,600, a potential indicator of a newly emerging bullish phase. Analysis based on the asset volatility indicates that Bitcoin's upper Bollinger Band® is at $19,820, this is a slight indication of a slowdown.
Overall, while Bitcoin has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Bitcoin shows positive signs, other assets are also on par: Solana leaps up 9.26% to trade around $30.93. Cardano is up 7.87%. Ethereum added 5.06% to its value, now trading at $1,412.
Today's gains are adding to bullish investor sentiment as robust macro data is expected for release later today; United States Crude Oil Inventories is projected to outperform its last figure with 200,000. It previously stood at -1.73 million; data will be released tomorrow at 14:30 UTC.
Also worthy of note, United States New Home Sales (Sep) will be released tomorrow at 14:00 UTC.
Registering some good gains for about a month now. Bitcoin reached a significant high of $67,600 around 11 months ago but has lost 71.39% since then.