Amici
1
Joe. Adam
The Bitcoin price has now fallen to around USD 17,600 and is thus further penetrating the support zone between USD 14,000 and USD 20,000. Has the bottom been reached now?
Joe. Adam
Bitcoin price dipped below the $19,252 support level and set a swing low at $17,605 over the last two days. This sudden drop was met with buying pressure from sidelined bulls that eventually pushed the weekly candlestick up by 16% from the swing low.
Joe. Adam
USD /CAD are going to see further US dollar weakness here as well, perhaps reaching down towards the 1.28 handle and then eventually the 1.25 level. However, if we do turn around and break above the highs of the week, we could rally towards the 1.35 level