Bitcoin Weekly Outlook: T-Bonds Threaten Crucial BTC/USD Support

Bitcoin shrugged off a significant week prior as the Federal Reserve, Bank of England, and Bank of Japan declared their interest rate decisions and monetary policy guidance.

In the short-term, supporting the upside outlook is the uncertainty led by a rising number of coronavirus infections in the US.

Across crypto Twitter, analysts claim that Bitcoin price just had an extremely bullish close, but a crucial momentum measuring indicator says otherwise. In fact, the tool just flipped bearish for the first time on weekly timeframes since April 2020, right after the Black Thursday rebound and pre-halving rally. Bitcoin Weekly MACD Opens Bearish For First […]

Bitcoin has slumped 3 percent a day after the short-covering fueled rally ran out of steam. The cryptocurrency which had hit a fresh 2-month low of $221.11 raced to hit an intraday high of $237.66 as a big chunk of short positions unwound near the important floor of $220. Bitcoin is now trading at $228.63. Technically, Bitcoin is grossly oversold considering the daily charts but, if we take a bigger view and study weekly charts instead, we get a very different picture. Below are the technical observations made from studying the weekly BTC-USD price chart. Bitcoin Chart Structure - A look....

Bitcoin markets will behave more like that of Treasury bonds and gold during market recovery, said the analysts. The latest crypto market research from Bloomberg Intelligence suggests that Bitcoin may start to behave more like United States (U.S.) Treasury bonds and gold, rather than stocks.In its August Crypto Outlook report, penned by Senior Commodity Strategist Mike McGlone and Senior Market Structure Analyst Jamie Coutts, the research unit compared Bitcoin markets to those of gold, bonds, and oil.The authors suggested that macroeconomic influences such as the Federal Reserve’s monetary....