Bitcoin traders weigh next move with BTC price at crucial 200-week trendline

” An accompanying chart showed a possible downside target in a “assistance zone” at just listed below $26,000. BTC/USD annotated chart. #Bitcoin $BTC https://t.co/so3Jyj23QL pic.twitter.com/MfO67SMzU0— King La Crypto (@kinglacrypto) June 7, 2023

Bitcoin (BTC) cooled the volatility into the June 8 Wall Street open as market participants waited for signals.BTC/ USD 1-hour candle light chart on Bitstamp with 200WMA. After flash volatility surrounding industry news occasions, the set returned to sideways trading after bouncing from three-month lows.Now, the 200-week moving average (WMA) formed a critical focus.” We are presently sitting right on the 200WMA,” trading suite DecenTrader composed in part of the days analysis. DecenTrader chose for a conservative view of brief timeframes, cautioning over an increasing long/short ratio on exchanges and that the United States trading session might open with selling.The LTF bear case for #Bitcoin: The Long/Short ratio is continuing to increase.We are presently sitting right on the 200WMA.”Correlating Dollar Index DXY and Bitcoin, we can see the market makers model in play,” he discussed together with a comparative chart.

DXY heads to supportPrior to the Wall Street opening, on the other hand, pronounced weakness in the U.S. dollar formed a potential reason for bullishness on crypto markets.The U.S. Dollar Index (DXY) fell to its lowest in numerous days, targeting support from the monthly open and late May.U.S.”Correlating Dollar Index DXY and Bitcoin, we can see the market makers model in play,” he explained together with a comparative chart.”BTC vs. DXY annotated chart.

Bitcoin (BTC) cooled the volatility into the June 8 Wall Street open as market individuals waited for signals.BTC/ USD 1-hour candle light chart on Bitstamp with 200WMA.” We are currently sitting right on the 200WMA,” trading suite DecenTrader wrote in part of the days analysis. DecenTrader opted for a conservative view of short timeframes, cautioning over an increasing long/short ratio on exchanges and that the United States trading session may open with selling.The LTF bear case for #Bitcoin: The Long/Short ratio is continuing to increase.We are presently sitting right on the 200WMA.