Bitcoin Uptrend Soon? Dollar Index Breakdown Sparks Optimism Among BTC Bulls
The US dollar index (DXY) is experiencing one of its largest weekly declines since 2013, fuelling optimism for a potential rally among risk-on assets, including Bitcoin (BTC). The last time the DXY saw such a sharp pullback was during the height of the FTX fiasco in November 2022, which coincided with a Bitcoin bottom. Will Bitcoin See An Uptrend? BTC is down nearly 10% over the past two weeks, largely due to the hawkish stance of the US Federal Reserve (Fed) and concerns over trade tariffs from the US against Canada, Mexico, and China. Related Reading: Is Bitcoin Showing Early Signs Of....
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In an X post published yesterday, crypto analyst Matthew Hyland highlighted that according to the weekly timeframe chart, Bitcoin (BTC) is likely to test the support level between $69,000 to $74,000 in the coming months. Is The Bitcoin Bottom In? Hyland noted that BTC’s weekly resistance level currently hovers around the $90,500 level. The analyst emphasized that if BTC has a weekly close above $89,000, then it may indicate that the market bottom is in. He added: If we do get a weekly close above this area ($89,000 to $91,000), I think the low is in for Bitcoin, and we are not going down....
Cardano (ADA) is in the spotlight as a strong bullish rebound from the $0.6822 support level has reignited traders‘ optimism. This comeback marks a possible turning point for ADA, with renewed momentum driving the price higher and signaling a resumption of its uptrend. As buying interest strengthens, market sentiment appears to be shifting in favor of the bulls, raising the question: how far can Cardano climb in the coming days? All eyes are now on key resistance levels as ADA’s rally gains steam, fueling hopes for sustained growth. This analysis aims to delve into Cardano’s recent....
Despite the positive reports from the United States, positive macroeconomic indicators seem not to be supporting the dollar enough. However, yesterday the pair BTC/USD was traded at a range of $320- $330. After consolidation within a descending triangle the BTC to USD price began to rise in the Asian session and reached a level of $332, where it met the resistance from Bitcoin sellers. Considering holidays in the United States today the main trades will be held during the European session, that should rule a roost for the BTC price today. Going above the $332 price level gives a bullish....
Tron (TRX) holders have been on rough terrain since August with the bears dominating the market. The tables might be turning though in favor of the bulls as shown on the charts. TRX bulls hint at a comeback after a long period of takeover by the bears TRX price down by 0.87% RSI divergence hints at increased investor optimism According to CoinMarketCap, TRX’s price has plunged by 0.87% or trading at $0.0596 as of this writing. Apparently, Tron is trying to bounce back from its weekly low that registered at $0.056. It seems that the token is still traversing in the same range which....
Bitcoin is trading at over $20,000, but the start of what might be the first real correction since the uptrend first began could be forming. However, looking more closely at the DXY Dollar Currency Index, the leading cryptocurrency by market cap could be in for another extended bear phase if a fractal on the dollar […]