Bitcoin Makes Massive Comeback with 8% Gain

Bitcoin's price has defied the expected downward trend for the time being, as evidenced by the cryptocurrency's chart, thanks to the demand pressure that erupted after the large decrease in the dollar index.

The price action clearly shows that it has broken over the $20,460 resistance level and continued higher, eventually reaching the $22,000 milestone (the golden ratio of the Fibonacci sequence).

The crypto asset has increased by more than 8% in the past week. As a result, Bitcoin is in a bullish position after breaking through the $20,000 barrier.

The one-day data shows that demand for the coin has just increased significantly, signaling the return of the buyers.

Even if the bulls have their sights set on the $22,000 mark, the currency still has to break over two other key price levels first.

A price drop could be in the horizon if purchasers abandon the market again. Since Bitcoin's bullish momentum shifted, many altcoins have also seen large price increases.

The coin's fate may rest on the next few trading sessions, which could determine the bulls' continued strength. If Bitcoin's price drops from its current level, it will revisit the $19,000 region.

In addition, the price can rise as high as $21,600 to $23,000 to compensate for the shortage in liquidity. The first reaction in the market has been gloomy so far.

Buyers' next major target is the $23,000 region if they want to keep the price of Bitcoin rising steadily. When prices hit this level, a reversal around $20,000–$15,000 is likely.

Long positions can be entered into with less risk as a result of this adjustment (potential Bitcoin trade on the chart). Stop commands must be followed at all times. A relevant scenario is one in which a second wave of price cuts, from $23,000 to $19,500, is planned and executed. Before I mentioned $15,000, but now that DXY is proposing and accepting a drop on its slide, that figure is irrelevant.

Several indicators suggest that the price of BTC will keep going up unless someone does something to stop it.

Dogecoin has been reacting aggressively to the popular video on Twitter, with escalation up more than 22%. This may indicate that Elon Musk is determined to get the deal done for Twitter. Elon Musk has just brought a kitchen sink into Twitter headquarters office to get the SINK to be Sink in

-There is a reasonable possibility that USDT's dominance will decrease to the subsequent strong level.

-Hot as ever, -Dollar- Dixie is just waiting to be indexed.

If you want to make a move on the market, you should wait until the next two twelve-hour candles have closed. This will protect you from being fooled by market fluctuations.

At he time of publication, Bitcoin had a market value of approximately $20,800. The coin has emerged from a protracted period of consolidation.

Now that the coin's range-bound movement has halted, the $22,000 price level requires the Bitcoin price to break through many significant price levels.

The coin encountered stiff selling pressure near $21,100, and found support about $21,600. Bitcoin's price will return to $19,700 if the bulls lose steam or if the market corrects itself.

There is still solid support at $19,700 for the cryptocurrency market. The volume of Bitcoin trades in the most recent session increased, signaling robust buying activity.

The growth wave is not over, and the next global target is $24,000 and higher, if sellers can't produce a phony breakout of the $20,500 range and demonstrate aggression on local timeframes.

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