Bitcoin price over 3.0% and breached $18,000 mark on news that FTX’s new management located some $5B in cash and some digital investments, raising hopes that the clients of a bankrupt crypto exchange may recover some of their money. Also, the overall appetite for riskier assets on prospects that softening inflation would allow the Fed to ease the tightening process boosted prices of major cryptocurrencies. Ethereum jumped over 4% and briefly broke above resistance at $1,400.
Bitcoin rose sharply on Thursday ahead of key inflation data from the US and is currently testing major resistance at $18300, which is marked with upper limit of the local 1:1 structure, 50.0% Fibonacci retracement of the last downard wave and long term downward trendline.Should break higher occur, upward move may accelerate towards next major resistance at $19100. Source: xStation5
