Bitcoin hit a five day high on May 15th and continued to rebound after Wall Street opened.Join us, official account: Chen is bad, not bad$40000 remains attractive for BTC pricesAccording to data from CointelegraphMarketsPro and TradeView, the BTC/USD on Bitstamp reached $27666
Bitcoin hit a five day high on May 15th and continued to rebound after Wall Street opened.
Join us, official account: Chen is bad, not bad
$40000 remains attractive for BTC prices
According to data from CointelegraphMarketsPro and TradeView, the BTC/USD on Bitstamp reached $27666.
Bitcoin
27356 USD
Due to the narrow volatility of the US stock market on the same day, cryptocurrency analysts are searching for clues to the next direction of the market.
For Michael van de Poppe, the founder and CEO of the trading company Eight, the prospects are bright.
Bitcoin 27,600
Weekly schedule; holding 200MA and EMA. I believe we will continue to move towards $38000- $42000 from here
VandePoppe referenced the 200 week moving average and index moving average, which were retested later last week after two months of support.
I am a fan of this kind of crash/recycling, "continued Kaleo, a popular trader, alongside the four hour chart of Bybit's BTC/USD permanent swaps.
Seeing that this is a very stable r/r long setting, it may return to the high point of the range. Yes, $40000 is still attractive
At the same time, by checking the status of the BTC/USDBince order book and monitoring the resource MaterialIndicators, it has been concluded that there have been no fluctuations so far.
TraderSkew added that the market is largely controlled by spot buyers of Coin An.
Coinbase spot led this trend with strong positive spot growth (market buying), "some Twitter comments pointed to the day's rise.
Rapid increase in the withdrawal of the US dollar
In other aspects, after a week of strong gains, attention continues to focus on the strengthening of the US dollar.
Although the final BTC/USD hit a two month low below $26000, the new week began with the opposite setting - a strengthening cryptocurrency market and a decline in the US dollar index (DXY).
Surprisingly, what is the negative correlation between cryptocurrencies and the US dollar? Today, the US dollar took a breather as we saw a recovery in cryptoassets, "responded popular trader Wick.
Trader CryptoTony pointed out that DXY's "very strong" closing may continue to put pressure on cryptocurrencies.
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