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Bitcoin Holding at Key Support-Level
Bitcoin is on watch this week following the consolidation we’ve seen following the recent correction lower. The futures market dropped from highs of almost $125k in mid-August to test support at the $108,855 level. While this region holds, the broader bull trend remains in place and focus is on a trend resumption and a fresh move higher. Should we drop below this level, however, risks of a deeper move are seen. Given the drop lower we’ve seen in USD on the back of Friday’s jobs data, the macro-backdrop remains supportive for BTC and, for now, risks look skewed towards a fresh phase of buying. However, ... (full story)
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