Bitcoin drži 5-sedmični maksimum jer trgovac sugeriše da je 'parabolični' medvjeđi trend gotov

bitcoin (BTC) took aim at $24,000 on July 20 after a night of solid gains put bulls in the driving seat.

Parabolas violated

Podaci iz Cointelegraph Markets Pro i TradingView followed BTC/USD as it breached $23,800, its highest level since June 13.

Against expectations, crypto staged a recovery beyond an intra-hour “fake-out” as risk assets benefitted from u opadanju United States dollar strength.

The inverse correlation between the U.S. dollar index (DXY) and Bitcoin remained center stage on the day, with the greenback coming off twenty-year highs at the end of the week prior.

“The Dollar is taking a nice hit today from the bears,” popular trader Crypto Tony rekao je Twitter followers as the breakout took shape:

“Good sign for Bitcoin as things cool off for the DXY.”

$ DXY has broken the Parabolic Trend (Parabola) that has been formed since Jan 7, 2021.

It’s time to pay attention. pic.twitter.com/xg344NrOCw

— wolf (@ImNotTheWolf) Juli 19, 2022

Fellow analyst Wolf, meanwhile, eyed the breakdown of a “parabolic trend” in place on DXY throughout 2022. At the same time, as per analysis from popular trader Jibon, BTC/USD had ended its parabolic run to macro lows.

#Bitcoin Parabolic Run is Over As Expected pic.twitter.com/1uuu0AfKKD

— Trader_J (@Trader_Jibon) Juli 20, 2022

Those “expectations” upućeni to a strategy forecasting BTC/USD rising to $40,000 before another bearish phase puts in a fresh macro bottom.

Major trendlines see a sudden test

Returning to current price action, meanwhile, significance came in the form of crucial trendlines being broken.

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Among them were the 200-week moving average (WMA) at $22,800 and Bitcoin’s realized price at $21,934 as of July 19, data from on-chain analytics firm glassnode potvrđeno.

Oboje su classic fixtures in Bitcoin bear markets, with BTC/USD usually wicking below while preserving the levels as basic support.

Attention thus focused on the weekly close, which would confirm a breakout from the 200 WMA.

$ BTC 1D

Hard to believe but #bitcoin has broken the 50 DMA, 200 WMA (confirms week close), major upward resistance, & Bear Flag all in the same day.

Shorting a breakout isn’t the best idea. I TP’d a bit early on longs but will reenter on a retest of support.#cryptocurrency pic.twitter.com/BDwf0f67GK

— Roman (@Roman_Trading) Juli 19, 2022

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