With the DXY (U.S. Dollar Index) showing increased strength, a bearish scenario is emerging for Bitcoin, potentially driving prices down from current levels. Here’s an overview of the critical factors and a strategic approach for navigating this downturn.
Market Overview:
DXY Impact: The rising U.S. Dollar Index traditionally signals a move away from riskier...
Recent price action in BTCUSDT has shown signs of structural weakness, with the market breaking below significant support zones. Currently, it appears that the market is seeking liquidity below the regions of 64000 to 61000, and potentially further down towards 59000 to 53000.
The breach of these levels suggests a shift in sentiment and potential opportunities...
BTCUSDT is been quite slow for these days. Though a correction is being drawn up as it might test short term support of 52577 in the next hours. Even can go further and test 47000 region, which would be a 20% correction. Considering BTCUSDT it is possible.
Price range of $BTCUSDT has a target to 52400 in the next days, where Daily EMA42 act as a historical support. Chance of going up reaching top channel on the short term around 56000 is likely since there are still 2 days left.
$BTCUSD is ranging inside convergence triangle, selling volatility. A major move might occur from tuesday 11th, when it will reach prices above 12000.
BITSTAMP:BTCUSD
