3 ok, amiért a Bitcoin ára nem tudott visszaállni 40 XNUMX dollár fölé

The ongoing story for the past couple of months in the cryptocurrency market has been confusion on whether Bitcoin (BTC) is destined for another leg down or is finally ready to break out toward new highs.

Bitcoin’s price history and data from previous corrections suggest that the current struggles for the top cryptocurrency could persist for a little bit longer due to the strengthening dollar, the possibility of decreasing economic stimulus and a slew of technical factors connected to Bitcoin’s price action.

A strong dollar threatens Bitcoin’s recovery

According to data from Delphi Digital, one of the biggest factors placing strain on risk assets around the globe is the strengthening U.S. dollar which appears to be attempting a trend reversal after falling below 90 in late May.

Rising dollar strength put a halt to the year-long uptrend in the 10-year US Treasury yield which is also a reflection that the economic expansions seen in the first half of 2021 are beginning to lose steam and there is a threat that a new wave of Covid-19 infections threatening the global economic recovery.

Fractals and the Death Cross suggest the correction is not over yet

The short-term outlook for Bitcoin remains bearish as previous instances of the “Death Cross,” which appeared on BTC’s chart in late June, have been followed by a corrective period that can last for nearly a year.

According to the analysts at Delphi Digital, the 12-month moving average is being tested as support, and a dip below this level would signal further downside for BTC price.

The 12-month moving average has been a key support level for Bitcoin historically, so how the price performs near this level could dictate whether the current uptrend remains intact.

Összefüggő: Az salvadoriak az utcára vonulnak, hogy tiltakozzanak a Bitcoin törvényei ellen

Overall, caution is warranted for traders because low volumes have historically led to higher volatility when fewer open bids can lead to rapid price fluctuations.

As explained by Kevin Kelly, a certified financial analyst at Delphi Digital, “the short-term outlook turns quite a bit more bearish if and when we break those key levels” near $30,000.

Kelly azt mondta:

"Nem feltétlenül gondolom, hogy majdnem akkora lehívást fogunk látni, mint mondjuk 2017 decemberét követően, 2018 elején és az év végéig. De azt hiszem, csak a piac struktúráját figyelembe véve, hogy a közeljövőben potenciálisan valamivel több rövid távú ingadozás és potenciálisan még több ellenszél is lehet itt. "

Az itt kifejtett nézetek és vélemények kizárólag a szerző véleményei és véleményei, és nem feltétlenül tükrözik a Cointelegraph.com véleményét. Minden befektetési és kereskedési lépés kockázattal jár, a döntés meghozatalakor saját kutatásokat kell végeznie.

Source: https://cointelegraph.com/news/3-reasons-why-bitcoin-price-has-not-been-able-to-rally-back-above-40k