Битцоин (BTC) hit three-day lows into the July 10 weekly close as $21,000 gave way as short-term support.
Trader eyes bullish divergences across markets
Подаци из Цоинтелеграпх Маркетс Про ТрадингВиев showed BTC/USD giving up some of its gains from earlier in the week while still looking to cap its најбољи недељни добици since March.
The pair circled $20,850 at the time of writing, around $1,600 below the week’s peak at the 200-week moving average.
Despite no continuation of the breakout, Bitcoin gave some commentators cause for cautious optimism ahead of the new week beginning.
“The markets are showing higher timeframe bullish divergences and the sentiment is the same as on a funeral,” Cointelegraph contributor Michaël van de Poppe сажети.
“A recipe for a reversal is there, and it can accelerate quite fast. Invest when nobody is interested. Sell when everyone is interested.”
Popular trader Crypto Tony meanwhile entertained the idea of a new sideways phase entering before a deeper drop, something which he imagined “would drive everyone crazy.”
$ БТЦ / $ УСД – Playing with ideas
If we start to reject harder and fail to reclaim the range high, we may start to see something like this shape up. Would drive everyone crazy i can imagine pic.twitter.com/wwoa8vjMRv
— Црипто Тони (@ЦриптоТони__) Јула КСНУМКС, КСНУМКС
Macro conditions remained uncertain, with upheaval in Sri Lanka adding to a sense of nervousness engendered by the common global theme of energy, food and financial crisis.
All this crazy shit happening in the world, I just can’t see how anyone can be macro bullish
we need new buyers and retail, without that there is no continuation… only chop
all pumps are an opportunity to exit and buy lower$ БТЦ pic.twitter.com/npAKi1L8uw
— Ninja (@Ninjascalp) Јула КСНУМКС, КСНУМКС
Attention focused on the U.S. dollar Index (DXY), which had ended the week back on support after spiking to fresh highs not seen in twenty years.
Risk Reserve hits all-time lows
Those seeking a golden buying opportunity on BTC meanwhile got a fresh key signal from the Reserve Risk indicator.
Релатед: Биткоин 'јефтин' за 20 долара јер однос цена БТЦ-а и новчаника опонаша 2013.
As напоменути by commentator Murad over the weekend, Reserve Risk, which shows long-term holder sentiment, hit its lowest-ever levels at July’s prices.
“Either this indicator is broken or we are in the high timeframe bottoming zone,” he said in part of Twitter comments alongside data from on-chain analytics firm Glassnode.
Reserve Risk, as Cointelegraph пријавио, has been rediscovering its green “buy” zone since March, this corresponding to optimal chances to invest with “outsized returns” as a result.
Овдје приказана стајалишта и мишљења су искључиво становишта аутора и не одражавају нужно ставове Цоинтелеграпх.цом. Сваки потез улагања и трговања укључује ризик, приликом доношења одлуке требало би да спроведете сопствено истраживање.
Source: https://cointelegraph.com/news/bitcoin-eyes-best-weekly-gains-in-3-months-as-btc-price-slips-below-21k