Daily Bitcoin Price Analysis: Bearish Trend Still Relevant

As we presumed yesterday, the pair BTC/USD went on a tour to the South descending to the lowest point of the downward triangle to around $316.94, where it met a strong resistance from bulls and then rebounded to the level of $318.80. The pair is currently trading at the level of $319. Do not forget about the dollar: the recent report on US GDP influenced the USD price in the world. It is expected, that US dollar will be in demand in the near future. The important macroeconomic indicators that will be released in the US today have a major influence on the price as well:

  • The number of initial claims for unemployment insurance