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A $9,800 Bitcoin is Possible After Overnight Upside Rejection: Analyst

bitcoinist.com

“SuperTrend is now flipping bearish and looks to be ready to correct as predicted,” the analyst noted, adding that he has closed most of his spot Bitcoin positions with expectations to open them later at lower levels. That is, at least, possible due to supportive macroeconomic fundamentals, such as the recent weakness in the US dollar index.

If Mr. Mnuchin commits that the stimulus deal will reach a conclusion, then it might leave the US dollar under additional stress. Nevertheless, a fundamental misfire, such as no clarity from Mr. Mnuchin on the stimulus deal, could lead the pair to play the downside scenario towards $10,000 – and below.

Read in Full: bitcoinist.com
Bitcoin BTC
$ 69848.05

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Bitcoin Bitcoin
70068.6000 -0.45%
Ethereum Ethereum
3550.02000 -0.54%
BNB BNB
607.384000 3.00%
Solana Solana
185.184000 -0.99%
XRP XRP
0.61609400 -0.67%