On Monday, September 27, bitcoin trading closed down by 2.35%. The price has been circling around the $42,500 level for several days, as have the major currencies against the dollar. The dollar index has updated the maximum against the background of avoiding risk and increasing the yield of US bonds.
The yield on 2-year US Treasury bonds reached an 18-month high due to concerns about the approach of the US government shutdown, as well as expectations of a reduction in QE. Lawmakers must resolve the debt ceiling issue in the coming days to avoid a shutdown. On expectations of the curtailment of the QE program, shares in the technology sector are selling off.
On the hourly and four-hour timeframe, support is at $40700.
Moreover, the lows of $40675 and $40750 are close to each other. Sellers are planning to disrupt the stops in order to collapse the price below $ 40 thousand, somewhere in the area of $37.5 thousand. The resistance marks are $43500 and $46000
The Chinese developer Evergrande remains a time bomb for all exchanges. The People’s Bank of China (PBOC) has promised to protect home buyers by injecting more money into the banking system. This is what keeps the markets from selling stocks in Asia, Europe and the United States.