The Impact of the US Stock Market Closure on Bitcoin (US Stock Market Closure 2021 Schedule)

What impact does the closure of the US stock market have on Bitcoin?

According to Bloomberg, Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC), stated, “We have entered the second half of a bear market. In the next few weeks, we will begin to pay attention to market trends.”

In addition, according to data from Tradingview, the price of Bitcoin on BitMEX has been steadily rising since March 18. As of writing, BTC is temporarily trading at $9,280.

From a technical perspective, the current market is running above the MA60 line, with the MACD and RSI indicators in overbought territory. However, with the recent strengthening of market trends, there are signs of a turnaround in the KDJ three lines. 1. If the price continues to rise after the US market closes, it may indicate the possibility of a short-term pullback or rebound. 2. If it falls below support levels such as MA5 and MA10, it indicates that the long and short sides will have increased disagreement. 3. Once it breaks through the upper resistance area, the downward momentum will further increase. 4. If the short-term oscillation adjustment can last for a period of time, it is expected that there will be greater downward space in the next few days.

US Stock Market Closure 2021 Schedule

On March 12, it was announced that the US stock market closure schedule for 2021 is as follows: Federal Reserve Chairman Jerome Powell expects the economy to exceed expectations in the next two years. The US stock market will experience a significant correction to neutral levels in April, rather than a similar situation in early February. In addition, investors need to be aware that the crypto market may also be affected by a sudden drop in prices after the outbreak of the pandemic, but there is still some short-term volatility in risk assets. (Jinshi)