Close
- All Market News
  All the dates you need for your trading diary.
- Indices News
  Your news hub for the S&P, FTSE, Nikkei, NASDAQ and so many more.
- Crypto News
  Tales from the Crypto world all in one place.
- Commodities News
  Insightful news across the Metals and Agriculture industries.
- Forex News
  Extensive coverage of the planet’s most liquid market.
- Energies News
  Oil & Gas traders will find this section invaluable.
- Stock News
  Read news on the movers and shakers in the Stock market.
- ETF News
  All the dates you need for your trading diary.
- All Daily Analysis
  Get a healthy mix of technical analysis and the movers and shakers.
- Daily Technical Analysis
  Learn how to read charts like the best in the business.
- Gainers and Losers
  Find out who’s up, and who’s down.
- All Learn to Trade
  Not sure where to start? Go here and let something catch your eye.
- Terminology
  An A-Z of the most common trading terms and phrases.
- Guides
  Get quick answers to the most frequently asked trading questions.
- Strategies
  Learn common trading strategies used by the best traders.
- Indicators
  We demystify charts and show you powerful charting tools.
- Courses
  We provide comprehensive trading courses on a variety of topics.
- Trading SignalsNEW
  Get Trading Signals from the FCA-regulated Signal Centre
- Dynamic Data
  Cut through the noise with market alerts tailored to your trading strategy.
- Research Terminal
  Deep coverage of the global markets with world-class insights.
- Economic Calendar
  Never miss a market update and time your trades like an expert.
- Corporate Calendar
  Dividend announcements, earnings releases, and a ton of other corporate info.
- Expert Advisor (EAs)
  Download your EA and unleash full power of LearnFX directly in your MetaTrader terminal.
Trading Signals

Bitcoin ascends to $27,600 after a 5 day downtrend

23 April 2023

BTCUSD

Bitcoin has been losing ground for 5 days Today's positive session could indicate a brief correction amid a broader downtrend, or, the start of a potential reversal. Bitcoin trades at $27,600 after gaining $325.85 (1.2%).

At the same time, United States Services PMI came out at 53.7, while a consensus of analysts was expecting 51.5. United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 244,600, while the previous figure was 235,600. United States CFTC Gold speculative net positions released yesterday at 20:30 UTC with a figure of 189,900, while the previous figure was 192,700.

Bitcoin made an initial breakout above its 3 day Simple Moving Average at $27,630, a potential indicator of a newly emerging bullish phase. Bitcoin's lower Bollinger Band® is at $26,700, indicating that the market is oversold and fertile for new buyers. In contrast, Bitcoin could be slowing down soon as it approaches resistance at $28,042. Of course, crossing it might suggest further gains are ahead.

Following today's unexpected gains, extensive multifactorial technical analysis forecasts Bitcoin to buck against its prevailing downtrend and begin to turn higher in the short term. With all probabilities considered, the Bitcoin is expected to pick up significant bullish sentiment in the coming days.

Other markets are also showing gains as FTX Token is up 9.54%. Ripple is up 4.47%.

This year has been a bright one for Bitcoin after trading as low as $15,759 and going on to appreciate by 64.85% year to date.

Market Summary

Latest Crypto News

View All

After five days of going down, Solana is flat today, hovering around $20.62

Solana set for weak finish today; down 2.45% to $21.74 with a hour before close

US markets end yesterday lower alongside bearish sentiment in European indices

Mixed sentiment leads TRON cryptocurrency to trade sideways; establishes tight $0.069 to $0.07 range

Binance Coin cryptocurrency trades up $1, approximately 0.32% higher going into tomorrow

Copyright @2022 Learn and Consult FZ-LLC. The company is incorporated according to the laws of Dubai and the United Arab Emirates.

The information contained on this website — including analysis, trading research, market opinion, news and instrument prices — is provided for information purposes only and should not be construed, under any circumstances, as investment advice. You agree that LearnFX is not responsible for any losses or damages you may incur as a result of any action you may take regarding the information contained on this website. The regulated signals offered by this website are provided by a third-party service provider and you understand that any losses you may experience from using these signals are entirely at your own risk and liability. By using this site, you implicitly agree that nothing contained on the site shall be construed as a solicitation to buy or sell any product or service in a jurisdiction where its purchase or sale would be contrary to local laws.

Risk warning: Trading in financial instruments carries a substantial risk to your investment and may not be suitable for you. LearnFX strongly recommends that you fully understand the risks involved with trading and whether you have the financial means to take the risks involved. Should you be unsure of your suitability for trading, you can contact a personal financial advisor in your local jurisdiction who will be able to help you assess your competency for trading and investment.

Signal Centre is a trading name of PIA First Limited which is authorised and regulated by the Financial Conduct Authority which can be checked here FRN 787261. Registered in England & Wales, company number 07428345. Registered Office: Kemp House, 152 City Road, London EC1V 2NX. VAT number 153 646014.