Tuesday 23 February

On Tuesday, February 23, at the end of the day, bitcoin lost 9.6%, ethereum - 11.11%. The rebounds were average against the background of the Bitfinex decision and the teaser. Ethereum closed better than the cue ball, as the ETH / BTC cross helped it with its growth. The morning started well for the bitcoin and altcoins amid a weakening dollar in the global forex market. The decline in the dollar index (DXY) helped boost the recovery of bitcoin to $ 51,357, and Ethereum to $ 1,715.

In a nutshell, for Asia. The morning rally was shown by the British pound and the New Zealander. The Briton flew up against the buck and the euro on triggered stops on long positions below 0.8600 in the euro / pound pair. The New Zealand dollar strengthened to 0.7384. The decision of the Reserve Bank of New Zealand contributed to its strengthening. The regulator left the monetary policy unchanged. The committee agreed that monetary policy should remain supportive until inflation is steady at 2%.

US Federal Reserve Chairman Jerome Powell's speech to the Senate Banking Committee on Tuesday raised rates against the American. He pledged to maintain a soft monetary policy and did not signal a cut in the quantitative easing program (bond purchases). The regulator will continue to support the economy by keeping the base rate close to zero. Powell speaks to the House Financial Services Committee today.

Senate Majority Leader Schumer said the $ 1.9bn stimulus package would be passed by March 14 (positive for risky assets).

With the falling dollar and the rise of risky assets, it was easier for the crypt to recover from yesterday's fall. Bitcoin needs to stay above 49k for 3-4 hours. This will unload the hourly indicators and open the way for buyers to the level of 55 thousand dollars (~ 76.4% of the fall from 58352 to 44892). If by some miracle buyers close the day around 54,000, a bullish engulfing candlestick setup will be formed the other day. Support is 47700. Below it, buyers will again run out of long positions. Still, on long positions over the past three days, long liquidities amounted to approximately $ 2.9 billion.

On ethereum the target is 1830. The current rate is 1648. Watch the level of 1555 (trend from 1360).

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