When you say "the USD News," are you referring to news that has to do with the United States dollar, or are you referring to what I also think is "the United States Election"? (USA)
Still on, one thing that I saw pushed the market very far to near breaking the ATH last time was the closeness of the election and how positive the poll was showing in favour of Trump, with the election also being just less than 48 hours from now. I can't lay my head straight to determine what the price of Bitcoin will be before then take it or leave it.
The United States has a great impact among other factors that contribute to the rise and fall of the Bitcoin price up to some certain level, so until the election is conducted and the result is announced, when I know some fucked up news can get to the heads of some traders, I will just be watching the chart do its thing.
Topic: BTC at Crossroads - page 2. (Read 229 times)
Bitcoin's rollercoaster rides since it hit the current ATH at about $73,850 in March has not been hidden and no doubt it must have disappointed a lot of people when it narrowly edged closer to it last week after 7 months of waiting, for it hit $73,610, only to sharply moved downwards due to many US news and the uncertainty around the US election. This may continue for a while but Bitcoin could still head for higher levels soon, it's only at a crossroads. With more bullish outlooks and confirmations on the weekly chart, the bullish path might be intact despite some bearish threats.
On the weekly chart, the OsMA is positive, and so is the Fibonacci as Bitcoin holds above the last Fibo level of 23.6% at $59,940. But trendline has been the issue since March as seen above, it aided the wavy pattern of the coin. It ensured the price did not slip above it until last week, unfortunately, the coin could not close above the level.
This is the mentioned crossroad for Bitcoin, a determining level for bullish or bearish supremacy. The current spot of the line is at $69,280, a sustainable breach and a weekly close above it could signal a more determined bullish market that will have the needed momentum to hit and breach the current ATH ($73,850). On the other hand, the persistent holding above this level may give the Bears the upper hand.
Let me know your thoughts, guys!
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