Bitcoin price faces 200-week trendline as US dollar hits 6-month high
BTC price centers on the 200-week exponential moving average, while analysts warn that Bitcoin and risk assets are in danger from a surging dollar.
Auto Added by WPeMatico
BTC price centers on the 200-week exponential moving average, while analysts warn that Bitcoin and risk assets are in danger from a surging dollar.
Bitcoin price is range-bound but several major altcoins such as XRP are showing signs of a potential breakdown.
The S&P 500 is attempting a recovery, but Bitcoin and select altcoins are struggling to break above their respective resistance levels.
After weeks of low volatility, Bitcoin bulls are trying to make a comeback, but the rise in the U.S. Dollar Index may limit the upside recovery.
Bitcoin offers slight volatility after fresh U.S. macro data, but BTC price behavior remains firmly rangebound.
Bitcoin’s record low volatility is also a sign that the next price breakout will be volatile, but everyone is guessing which direction the price will go and how it will…
Bitcoin is at the pivotal 50-day SMA support, and a drop below this level could result in accelerated selling of BTC and altcoins.
Bitcoin bulls have failed to step in, increasing the chance for a retest of the $29,500 support.
Bitcoin has the chance to set off on a "parabolic curve" as the U.S. dollar index threatens to dive below 100, a popular trader says.
The weakness in the U.S. Dollar Index bodes well for Bitcoin and altcoins in the near term.