Bitcoin Hides $22,000 As US Dollar Falls From Top, Ethereum Gains 20%
This is Ethereum for crypto traders on the day Bitcoin faces crucial resistance and a slew of sellers at the lookout.
Market Update
Bitcoin (BTC) hit $22,000 on July 19 as macro conditions slowly turned towards risky assets.
BTC/USD 1-Hour Candle Chart ( Bitstamp). Source: TradingViewData from Cointelegraph Markets Pro and TradingView showed cooling BTC/USD volatility immediately below the crucial 200-week moving average (WMA).
Wall Street's open saw further gains for US equities against the decline of the US dollar, which extended its retracement after hitting its last high in two decades.
The US Dollar Index (DXY) stood at around 106.5 at the time of writing, down 2.6% from its peak on July 14.
So for Bitcoin analysts, it was a case of waiting and seeing, as markets bided their time between buy and sell levels.
$BTC / $USD - Update
These are the options on #Bitcoin to the right.. If we can hold above the $21,700 range and gain momentum, we can pump for wave 3..
However, if we die, I'm looking for another corrective wave down.. pic.twitter.com/cLGVGdTivK
— Crypto Tony (@CryptoTony__) July 19, 2022"I've shared this chart before, but just like that $DXY is collapsing resulting in risky assets showing some momentum", Cointelegraph contributor Michaël van de Poppe
This is Ethereum for crypto traders on the day Bitcoin faces crucial resistance and a slew of sellers at the lookout.
Market Update
Bitcoin (BTC) hit $22,000 on July 19 as macro conditions slowly turned towards risky assets.
BTC/USD 1-Hour Candle Chart ( Bitstamp). Source: TradingViewData from Cointelegraph Markets Pro and TradingView showed cooling BTC/USD volatility immediately below the crucial 200-week moving average (WMA).
Wall Street's open saw further gains for US equities against the decline of the US dollar, which extended its retracement after hitting its last high in two decades.
The US Dollar Index (DXY) stood at around 106.5 at the time of writing, down 2.6% from its peak on July 14.
So for Bitcoin analysts, it was a case of waiting and seeing, as markets bided their time between buy and sell levels.
$BTC / $USD - Update
These are the options on #Bitcoin to the right.. If we can hold above the $21,700 range and gain momentum, we can pump for wave 3..
However, if we die, I'm looking for another corrective wave down.. pic.twitter.com/cLGVGdTivK
— Crypto Tony (@CryptoTony__) July 19, 2022"I've shared this chart before, but just like that $DXY is collapsing resulting in risky assets showing some momentum", Cointelegraph contributor Michaël van de Poppe
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