Bitcoin threatens the worst weekly closure since 2020, since the price of BTC is seeking $ 19K ## Bitcoin bulls nothing to smile, since the weekly candle is approaching the end of almost the same place as two years ago.
Bitcoin bulls to smile, Since a weekly candle is approaching the end of almost the same place as two years ago.
On September 25, Bitcoin (BTC) reached the lowest weekly closure since 2020, since the week of macroeconomic upheavals had its fruit.
Schedule 1-hour candle BTC/USD (Bitstamp). Source: TradingView The trader is preparing for the "important week" for BTC The Cointelegraph Markets Pro and TradingView showed that BTC/USD is trading about $ 19,000, and several hours are left until the end of the week. Although from the beginning of the week the couple has decreased by only $ 400, the traders have little optimism amid concern that in the coming days the outflow of risky assets will continue. “The whole week was traded within Monday range. The closing of the week will be bear, similar to a pin bar,” the popular Crypto Youddha trading account on Twitter in the final message said. "We also consolidate on the minimum of the range. Therefore, first we need a rebound before taking up a position. The next week will be important. (Closing the third quarter + closing the month)." Macrocommentary Alex Krueger, meanwhile, noted that the closure of September 19 became a minimum of bitcoin for 2022. “I think that first is lower, then higher,” he wrote in the discussion on Twitter. "The repetition of the June CPI week on shares, cryptocurrency should exceed all expectations after the rebound, since it demonstrates relative power (strong spot buyers in the last two days). Strong rebound =/ new multi -week upward trend." However, if at the last minute there is no rebound, then the largest cryptocurrency will be on the way to even less enviable achievement - the lowest closure since November 2020.
1-week candle schedule BTC/USD (Bitstamp). Source: TradingView Michael Van de Poppe, the founder and general director of the Eight trading company, added that the volatility next week is practically guaranteed thanks to an unstable macroeconomic situation. In parallel with this, the US dollar index (DXY) prepared to protect the new twenty -year -old maximums reached on the previous week - more than 113.2 and due to several main fiat currencies.
## 1-weekly candle schedule XRP/USD (BINANCE). Source: TradingView