Is Bitcoin beginning to look a lot like Christmas?
BTC/USD annotated chart. Source: Michaël van de Poppe/ Twitter$18,500 as a formidable resistance zone to watch, while a daily close above $17,167 would be “encouraging.”alongside a chart showing $17,552 as clinch level on daily timeframes.A still-optimistic trader who tweets under the alias “Moustache” meanwhile
to a classic bottoming pattern — the inverse head and shoulders — “in full swing” on the 12-hour chart.Eyes were meanwhile on United States equities after Asian markets had another strong day's trading.Hong Kong's Hang Seng was up 4.5% on the day, while the Shanghai Composite Index managed a nearly 1.8% gain.
The U.S. dollar remained a focus within the macro picture, with the U.S. Dollar Index near five-month lows in what could yet be a boon for Bitcoin.Sven Henrich, founder of NorthmanTrader, meanwhile noted the ongoing inverse correlation between DXY and the S&P 500. "A key chart to navigating markets in past few months: The US dollar $SPX directional correlation. Still sitting at 95%," heThe views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BTC price levels to watch as Bitcoin holds $17K into the market openBTC price has the potential to head higher still after three-week highs, Bitcoin traders hope.
Read more »
Bitcoin analysts eye weakening US dollar as BTC price fights for $17KBTC price takes on $17,000 into the weekly close with Bitcoin analysts eyeing U.S. dollar weakness.
Read more »
Bitcoin, Ethereum Technical Analysis: BTC Races to 3-Week High on Monday – Market Updates Bitcoin NewsBitcoin was trading above $17,000 on Monday, as the world’s largest cryptocurrency raced to a three-week high.
Read more »
DOGE Soars 6%, BTC Stuck at $17K Amid Low Trading Volumes (Weekend Watch)Dogecoin is the best performer from the larger-cap alts, while CELO and NEXO have gained the most from the mid-caps.
Read more »
Bitcoin Pulls Above $17K as Axie Infinity (AXS) Skyrockets 23% (Market Watch)Bitcoin managed to register its highest price tag in just over 20 days.
Read more »
Bitcoin Above $17K as Unwinding of ‘Fed Trade’ Lifts US StocksBitcoin bounces back above $17,000 despite trading at a significant discount following the collapse of crypto exchange FTX. Arca Head of Research Katie Talati joins “First Mover” to discuss major crypto price actions and notable token activities of SRM, AAVE and APE. Plus, the latest on the correlation between digital assets and the traditional market.
Read more »