U.S. Markets close in 1 hr 52 mins

  • S&P 500

    3,901.36
    +0.57 (+0.01%)
     

  • Dow 30

    31,261.90
    +8.77 (+0.03%)
     

  • Nasdaq

    11,354.62
    -33.88 (-0.30%)
     

  • Russell 2000

    1,773.27
    -2.96 (-0.17%)
     

  • Crude Oil

    110.35
    +0.46 (+0.42%)
     

  • Gold

    1,845.10
    +3.90 (+0.21%)
     

  • Silver

    21.87
    -0.03 (-0.13%)
     

  • EUR/USD

    1.0562
    -0.0026 (-0.2429%)
     

  • 10-Yr Bond

    2.7870
    -0.0680 (-2.38%)
     

  • Vix

    29.43
    +0.08 (+0.27%)
     

  • GBP/USD

    1.2495
    +0.0020 (+0.1587%)
     

  • USD/JPY

    127.8500
    +0.0560 (+0.0438%)
     

  • BTC-USD

    29,800.95
    +479.62 (+1.64%)
     

  • CMC Crypto 200

    650.34
    -23.03 (-3.42%)
     

  • FTSE 100

    7,389.98
    +87.24 (+1.19%)
     

  • Nikkei 225

    26,739.03
    +336.19 (+1.27%)
     
WEF 2022:

Yahoo Finance is in Davos! Get the latest updates here

Bitcoin Under Pressure, Faces Support at $30K

  • Oops!
    Something went wrong.
    Please try again later.
Omkar Godbole
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • BTC-USD

Bitcoin’s quick recovery from 2 1/2-week lows below $32,000 seen Wednesday doesn’t seem to have inspired buyers. The cryptocurrency is currently trading 3% lower on the day near $31,750 amid fresh signs of bearishness in daily chart indicators.

  • The 14-day relative strength index (RSI) has dropped below the two-month rising trendline. The pattern indicates that price consolidation may end with a bearish move.

  • The MACD histogram, an indicator used to identify trend changes and gauge trend strength, is teasing a bearish crossover below zero.

  • However, intermediate-term studies favor a bullish breakout from the ongoing price squeeze.

  • On the higher side, the 50-day simple moving average at $35,240 remains the level to beat for the bulls.

  • Contracting Bollinger bands suggest a big move is overdue.

Also read: Bitcoin Little Changed Amid Uncertainty in Release of Grayscale Shares 

Related Stories

Recommended Stories

  • Why Tesla Stock Raced Higher Today

    Cathie Wood is buying more shares of the EV maker -- and you might want to, too, based on this battery news.

  • Nvidia stock in focus ahead of earnings

    Yahoo Finance's Dave Briggs discusses what to expect from Nvidia earnings.

  • Better Buy Ahead of FDA Meetings: Moderna vs. Novavax

    Moderna (NASDAQ: MRNA) and Novavax (NASDAQ: NVAX) both delivered major returns for investors in the early days of the coronavirus vaccine race. Moderna's vaccine entered the market in December of 2020. Novavax's vaccine began winning authorizations a year later -- but isn't yet approved in the United States.

  • This is the photographic evidence presented in a lawsuit over fast-food burger sizes

    Are there legal consequences when restaurants advertise exaggerated versions of their menu items? The photographic evidence from one lawsuit.

  • Why Kohl's Stock Was Soaring Today

    Shares of Kohl's (NYSE: KSS) were jumping today as the struggling department store chain took the next step in selling itself, with some potential offers reportedly ranging up to $62 a share. Reuters reported this morning that many of the potential bidders were considering lowering their buyout offer price given market conditions amid the pullback in retail stocks last week and the broad market this year. Among the bidders are Sycamore Partners, Franchise Group, Simon Property Group and Brookfield Asset Management (the mall REITs that took over JCPenney), and Acacia Research, which had offered $64/share for Kohl's back in January, though that offer was rejected.

  • Elon Musk Sounds an Alarm on Italy, Hong Kong, South Korea

    Tesla's CEO, the world's richest man, is increasingly commenting, and acting, on matters of global concern.

  • Billionaire Steven Cohen Bets Big on These 2 High-Yield Dividend Stocks

    The markets these days are flashing warning signs for investors. High inflation and slowing GDP growth threaten a return to the stagflation of the late 70s, while China’s strict anti-COVID lockdowns and the Russia-Ukraine war are working together to keep supplies of oil, food, and manufactured goods short, supply chains tangled – and prices high. In short, it’s an investment environment that cries out for defensive plays. Dividend stocks are clear choice for investors looking to buy in. Their ap

  • Strong insider buying suggests a 15% rally in the S&P 500 from here

    One of the troubling things about this market downturn is that as brutal as it got, corporate insiders never showed much interest in their discounted stocks. Using history as a guide, the S&P 500 (SPX) the Dow Jones Industrial Average (DJIA) and the Nasdaq Composite (COMP) stand to advance 15%-20% over the next three months. “Quality” means buying by insiders with strong records, buying by executives over directors who are further from the business, and bullish formations like cluster buys.

  • The Fed must boost rates by a full percentage point at every meeting to bring down inflation and avoid a job-killing recession

    The Fed is still not doing nearly enough to shrink the money supply and reduce excess demand for labor, energy, metals, houses, and other goods and services.

  • Dick’s Sporting Goods stock rebounds after the retailer cut guidance

    Yahoo Finance Live anchors discuss quarterly earnings for Nordstrom and Dick's Sporting Goods.

  • Costco's in a Bind, but Here's Why It Could Be Cut Loose

    Retail stalwarts like Walmart and Target reported significant drops in profitability due to increased costs on freight, labor, and supply-chain disruption. Bulk retailer Costco Wholesale (NASDAQ: COST) reports in the coming days, and investors seemingly are pricing in bad news; the stock is down more than 20% over the past month. Costco is likely to talk about significant cost increases throughout its business when it reports earnings for the third quarter of its fiscal 2022.

  • 2 “Strong Buy” Stocks Under $10 That Are Too Cheap to Ignore

    The current market conditions – the NASDAQ is down 28% year-to-date, and the S&P 500 is down 17% – offer bargain hunters a target-rich environment. Plenty of sound stocks have seen their prices decline, pulled down by the general market headwinds and the overall stock trend, to levels that have left them too cheap to ignore. At this level, investors can find the benefits of cheap stocks, like those under $10, which offer both learning opportunities and huge upside potential. However, in evaluati

  • ‘Emotions and money do collide’: My girlfriend doesn’t understand how her student loan works and rents a pricey apartment. What if we marry — and divorce?

    THE MONEYIST Dear Quentin, My girlfriend and I have been in a relationship for seven months, and it is getting more serious. I don’t expect us to get married in the next year but I like to plan ahead and if things keep working out, I do see us getting married in two to three years.

  • Why Cruise Line Stocks Are Plunging Today

    Shares of cruise line stocks plunged in trading on Tuesday as the market continues to grapple with economic uncertainty. Industry giant Carnival (NYSE: CCL) (NYSE: CUK) was down as much as 11.3% in trading today, Royal Caribbean Cruises (NYSE: RCL) fell 10%, and Norwegian Cruise Line Holdings (NYSE: NCLH) dropped 11.8%. The news continues to be murky at best with companies warning of slowing sales in a variety of sectors, consumers experiencing inflation, and the Federal Reserve continuing to indicate that it will keep raising interest rates.

  • Energy Transfer Is Looking to Add a New Fuel Source

    Energy Transfer (NYSE: ET) is already one of the most diversified midstream companies in the country. The master limited partnership (MLP) has assets up and down the oil and natural gas value chain, providing a full range of services from the wellhead to the water. One potential new source of growth it's exploring is expanding into the petrochemical industry.

  • Russia to Service Debt in Rubles After US Closes Loophole

    (Bloomberg) -- Russia will service its dollar debt in rubles after the expiry of a sanctions loophole closed the option of payments in the US currency, potentially putting Moscow on track to default.Most Read from BloombergPlot to Kill George W. Bush in Revenge for Iraq War Was Foiled, FBI SaysBiden Demands US ‘Stand Up’ to Gun Makers After Texas AttackTexas Shooter Kills 18 Elementary School Children, One TeacherHungary’s Orban Declares State of Emergency Over War, EconomyThe announcement came

  • 'Big Short' Michael Burry Awakens Ghosts of the 2008 Financial Crisis

    The sad memories of the 2008 financial crisis resurfaced on the markets after a cryptic tweet from 'Big Short' legend Michael Burry.

  • Wall Street Says This Software Name Is Set to Double

    Stocks for cloud-computing companies, which sell software and services linked to remote data centers via the internet, have experienced a horrible start to 2022. While the Nasdaq Composite Index is down nearly 30% year to date, many cloud stocks have fallen much lower. The company provides cloud-based enterprise data warehouse (EDW) services to its customers.

  • Stocks edge higher as investors await Fed minutes

    Yahoo Finance’s Jared Blikre breaks down how markets are trading ahead of the release of FOMC minutes from the Fed’s May meeting.

  • Better Tech Dividend Stock: AT&T vs. Cisco

    AT&T (NYSE: T) and Cisco (NASDAQ: CSCO) are generally regarded as conservative income investments rather than high-growth plays. AT&T still pays a forward dividend yield of 5.4% following its spin-off of Warner Bros. Discovery (NASDAQ: WBD), and Cisco pays a forward yield of 3.5%. Should investors buy either of these blue chip tech stocks as defensive plays against inflation, rising interest rates, and other macro headwinds?