Bitcoin (BTC) With the effect of the recent rise, the US dollar retested $24,000 as it moved towards the monthly close. Strong one Bitcoin (BTC) The weekly close becomes an attack on the resistance levels lost the previous week as the DXY headwinds subside.
Bitcoin (BTC) Rises $1,000 From Weekend Low
According to the data received, BTC/USD recovered in line with the United States stock futures.
The pair hit the lows of $22,770 on Bitstamp over the weekend, but these dips were short-lived as the weekly candle closed above $23,500.
With stocks entering the new week stronger, hopes were raised that Bitcoin (BTC) could continue its upward trend to end February at a high level.
Michaël van de Poppe, founder and CEO of trading firm Eight, said in a part of his Twitter post that day, “Rejection of an important level such as $23,800 will indicate that we will run another support test.,” he wrote.
Popular investor Crypto Tony has also taken a more cautious stance when it comes to the continuation of the overall uptrend.
To Twitter followers If we get back $23,750 and stay above it, I’ll stay long. Or if we lose $22,900 and stay below it I will look bearish” said.
Meanwhile, the US dollar index (DXY) tumbled below 105, supporting all risk assets.
At the time of this writing, Bitcoin (BTC) was trading at $ 23,200.
*Not investment advice.
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