A big challenge for BITCOIN
Price keeps bouncing from the downtrend and now it seems harder to regain 20k level.
On last week Dollar Index drop (DXY), Bitcoin managed to bounce off the $18,600 but at the very last moment of weekly candle close price shoot up to be stopped right above 2017 all time highs $19,666.
Starting the weekly trading period DXY is recovering for another attempt to break resistance giving weakness to Bitcoin. We will see what price action tells us during the week but crypto bulls need to step up if not the flush down on BTC will be imminent.. 16k first 13,8k later.. in case of a breakout 20k must be held then 25k likely for end of November for a double local top.
On last week Dollar Index drop (DXY), Bitcoin managed to bounce off the $18,600 but at the very last moment of weekly candle close price shoot up to be stopped right above 2017 all time highs $19,666.
Starting the weekly trading period DXY is recovering for another attempt to break resistance giving weakness to Bitcoin. We will see what price action tells us during the week but crypto bulls need to step up if not the flush down on BTC will be imminent.. 16k first 13,8k later.. in case of a breakout 20k must be held then 25k likely for end of November for a double local top.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.