BTC/USD stays pressured around short-term key support after three-week downtrend.
Bear cross, downbeat oscillators keep sellers hopeful around 61.8% Fibonacci retracement level.
Five-week-old ascending trend line support may test the bears nearby horizontal line.
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BTC/USD seesaws around $36,700 during the late Sundays trading, after declining for three consecutive weeks in the last.
In doing so, the Bitcoin pair makes rounds to the 61.8% Fibonacci retracement (Fibo.) of the quotes upside from late January to February 10.
That said, three-week-old horizontal support around $36,300 may restrict the BTC/USD pairs immediate downside ahead of an upward sloping trend line from January 24, near $34,500 by the press time.
Following that, the late January low near $32,950 will be in focus.
Alternatively, recovery moves need to provide a decisive break above the 200-SMA level of $40,043 to push back the short-term sellers.
Even so, BTC/USD bulls will remain cautious until the pair stays below a descending trend line from February 10, close to $42,000 by the press time.
Saxo Bank Adds 5 New Companies to its Crypto Theme Basket
May has been tough for cryptocurrencies and Saxo Bank’s crypto basket has also suffered, but much less than cryptocurrencies themselves, making it the worst performing theme in May. Saxo is adding five new companies to its crypto and blockchain theme basket including the Swedish-based crypto broker Safello Group that has just IPO’ed in Stockholm.