Bitcoin price faces 200-week trendline as US dollar hits 6-month high

Bitcoin (BTC) hugged an essential long-term trendline on Sep. 7 as U.S. dollar strength hit its highest in 6 months.BTC/ USD 1-hour chart. Source: TradingViewBitcoin vs. 200-week moving typical types “million dollar question” Data from Cointelegraph Markets Pro and TradingView showed BTC price relocations focusing on the area around $25,700. U.S. dollar index (DXY) 1-day chart. Source: TradingView” This rally by the dollar will continue to be a drain on risk assets, especially those the furthest up the risk curve (i.e. crypto),” expert Benjamin Cowen wrote in part of X analysis.TraderSZ continued the style, forecasting disadvantage for U.S. equities at the hands of DXY strength.”Price action for the U.S. Dollar Index DXY is extremely bullish (and for that reason bearish for monetary properties),” Caleb Franzen, senior analyst at Cubic Analytics, included.

Thank you for reading this post, don't forget to subscribe!

Bitcoin (BTC) hugged an essential long-lasting trendline on Sep. 7 as U.S. dollar strength hit its highest in 6 months.BTC/ USD 1-hour chart. Source: TradingViewBitcoin vs. 200-week moving typical types “million dollar question” Data from Cointelegraph Markets Pro and TradingView revealed BTC cost moves focusing on the area around $25,700. Looks to generally be shorts chasing cost here at the last bit.

” The million dollar question is whether Bitcoin holds above the 200-Week EMA,” he summarized.BTC/ USD 1-week chart with 200EMA. U.S. dollar index (DXY) 1-day chart. Source: TradingView” This rally by the dollar will continue to be a drain on danger possessions, particularly those the outermost up the risk curve (i.e. crypto),” analyst Benjamin Cowen composed in part of X analysis.TraderSZ continued the style, forecasting disadvantage for U.S. equities at the hands of DXY strength.

“Price action for the U.S. Dollar Index DXY is incredibly bullish (and therefore bearish for financial assets),” Caleb Franzen, senior expert at Cubic Analytics, included.”An accompanying chart showed the DXY 200-day easy and rapid moving averages.U.S. Every financial investment and trading relocation involves danger, and readers should perform their own research study when making a choice.