On Monday, September 27, Bitcoin trading closed down 2.35%

On Monday, September 27, Bitcoin trading closed down 2.35%. The price has been hovering around the $ 42,500 level for several days, as are the major currencies against the dollar. The dollar index hit a new high on the back of risk aversion and higher yields on US bonds.

The yield on 2-year US Treasuries hit an 18-month high on concerns about an approaching US government closure, as well as expectations of a QE cut. The higher the rates, the more expensive the debt. Funding for the US government will last until December 3. Legislators must address the debt ceiling in the coming days to avoid a shutdown. On expectations of curtailment of the QE program, the shares of the technology sector are being sold.

On the hourly and four-hour time frames, support is at $ 40,700. Moreover, the lows of $ 40,675 and $ 40,750 are close to each other. Sellers are planning to break stops in order to collapse the price below 40 thousand.If you look at targets below the level of 40 thousand, you can see a level in the region of 37.5 thousand. Resistances are 43,500 and 46,000

The Chinese developer Evergrande remains a ticking time bomb for all exchanges. The People's Bank of China (PBOC) has pledged to protect home buyers by pouring more money into the banking system. This is what keeps the markets from selling stocks in Asia, Europe and the United States.