Bitcoin trader fears a bear market comeback: Watch the US dollar
It's all about a golden cross, a death cross and the Federal Reserve when it comes to Bitcoin price action in the first half of the week. Bitcoin (BTC) stayed motionless at the Feb. 6 Wall Street open as Analysis showed an “interesting dynamic” in play on BTC price charts. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin: Golden cross meets death cross Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it ignored the start of U.S. equities trading to stay near $22,800. The pair had seen flash volatility into the weekly close, abandoning levels nearer its six-month highs above $24,000. Bitcoin thus worried market participants as the week began, with an increasing number eyeing a potential retest of $20,000 or lower. For on-chain monitoring resource Material Indicators, attention now turned to two classic chart Features : a “golden cross” on daily timeframes and a “death cross” on weekly timeframes. Representing interplay between the 50 and 2...