The ugly truth behind the recent Bitcoin price recovery
— Tricky setup, Monday, Books, Bulls, Tuesday morning saw, Hold, Weighs, Would mean, Traders might, Stronger — 1 min read
Bitcoin price recovers almost 5% at the start of the week, with a shy 5% in the books. BTC price could drop to $16,020 as US dollar strength kicks back in and weighs on BTC. BTC could see its gains evaporate on the back of that dollar strength. US markets were closed on Monday, with the US dollar returning to life after a long weekend. That would trigger a spiral selloff, with Bitcoin price at risk of dropping 20% and losing roughly 20%. Bitcoin price could pop higher with prospects of trading at $23,878 and $21,969 in the process of a pop higher than the $20,000 test against the $22,000 mark on Tuesday. BTC/USD daily chart. Source