Bitcoin (BTC) cooled volatility above $17,000 into the Dec. 5 Wall Street open as traders confirmed upside targets.
Bitcoin traders warm to near-term upside
маалыматтарды Cointelegraph Markets Pro жана TradingView followed BTC/USD as it held overnight gains, having hit three-week highs.
The weekly close itself was encouraging for some, forming Bitcoin’s highest since the FTX чатагы сынды.
Now, traders were hoping that upside would continue toward $20,000, with various resistance zones in play.
“Slowly, but surely, Bitcoin is grinding upwards. Needs to crack $17.4-17.6K, but then we most likely continue quite fastly towards $19K,” Michaël van de Poppe, founder and CEO of trading firm Eight, жазган in an update on the day.
A кийинки пост offered a BTC/USD chart with relevant price levels of interest.
Fellow trader Titan of Crypto белгиленген $18,500 as a formidable resistance zone to watch, while a daily close above $17,167 would be “encouraging.”
“Are we leaving the range this week?” trader DoopieCash суралган alongside a chart showing $17,552 as clinch level on daily timeframes.
A still-optimistic Moustache meanwhile учтуу to a classic bottoming pattern, the inverse head and shoulders, “in full swing” on the 12-hour chart.
Dollar strength faces tense week
Eyes were meanwhile on United States equities as Asian markets had another strong day’s trading.
байланыштуу: Акциялар үчүн "жакында" кыйроо болобу? Бул аптада Биткойндо 5 нерсени билүү керек
Hong Kong’s Hang Seng was up 4.5% on the day, while the Shanghai Composite Index managed nearly 1.8%.
The U.S. dollar remained a focus within the macro picture, with the U.S. dollar index (DXY) near five-month lows in what could yet be a boon for Bitcoin.
Sven Henrich, founder of NorthmanTrader, meanwhile noted the ongoing inverse correlation between DXY and the S&P 500.
“A key chart to navigating markets in past few months: The US dollar $SPX directional correlation. Still sitting at 95%,” part of Twitter comments сөз күндө.
Бул жерде айтылган көз-караштар, ойлор жана ой-пикирлер бир гана авторлорго таандык жана алар Cointelegraphтун көз-караштарын жана көз-караштарын чагылдырбайт.
Source: https://cointelegraph.com/news/btc-price-levels-to-watch-as-bitcoin-holds-17k-into-the-market-open