When new homes opened on Wall Street on Feb. 6, BTC remained motionless, as analysis revealed an "interesting dynamic" on the bitcoin price data chart.
Cointelegraph Markets Pro and TradingView messages follow the trend of Bitcoin against the dollar, ignoring the opening of the U. S. stock market and staying around $22800.
The foreign exchange currency had lightning ups and downs at the close of the week, opting to abandon its June high above $24000.
As a result, Bitcoin unnerved investors at the start of the week, with many concerned about the possibility of retesting Bitcoin for $20,000 or less.
For testing the raw material index value of network resources on the chain, the focus has now shifted to two classic data chart features: the "golden cross" in the daily time structure and the "death cross" in the weekly time structure.
Gold and the death cross represent the interaction between the 50-day and 200-day moving averages, which traditionally mean the coming rally and bullish market.
This is their evil deed, and if one or more things happen, automated trading tools may be bought or sold according to demand.
"at the moment, the golden cross on the bitcoin D chart may trigger some stock buying. Similarly, an intractable death cross on the W chart will open the sale of some ALGO trading robots.
It also sets out the message that Jerome of the Federal Reserve will release. Jerome's case clues on current inflation policies expire on February 7th, which could easily hurt sales.
Keith Lerner, founder of the chemical index, describes it as an "interesting dynamic evolution".
Bitcoin is moving towards the well-known Golden Cross in the D chart, which is also rising in the short term and may trigger some TA optimization algorithms to buy. People are also moving towards the death cross in the W chart, which is also long-term bullish, "he said in his tweet.
At the macroeconomic level, US stocks opened slightly lower, with the S & P 500 and NASDAQ falling 0.8 per cent and 1.1 per cent respectively. Asian stock markets also closed down on the day.
In addition, the U. S. stock index (DXY) rebounded again, which is likely to put further pressure on risky assets.
At the time of writing, the index exceeded 103.6, the highest since Jan. 9, as investment analysts grew concerned about the health of the login password rebound.
Roman, a popular trader and investment analyst, concluded: "it looks like the dollar is trying to regain its rally this year."
"this will be bad news for data encrypted stocks, because it will represent the adjustment / persistence of the bear market in the stock market. This is a very important week. The development trend warmed up, the US dollar SPX fell into 4100, and then returned to macroeconomic bad news.
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