Saturday, October 1

Bitcoin Surpasses $ 51,000 Level As Dollar Strengthens Against Euro By CoinTelegraph

© Reuters. Bitcoin surpasses the $ 51,000 level as the dollar strengthens against the euro

() regained its bullish strength after regaining the $ 50,000 level last week and continued to hold the psychological level as support on December 27. Meanwhile, its rival for the biggest safe-haven spot, the US dollar, also bounced off a critical price floor, hinting that it would continue to rally through 2022.

Triangle Breakout The US dollar index (), which measures the strength of the dollar against a basket of major foreign currencies, has been trending towards the cusp of a “symmetrical triangle” pattern on its daily chart.

In doing so, the index has been treating the structure’s lower trend line as its solid support level, thus hinting that its next breakout would be resolved to the upside.

Read the full article on Cointelegraph

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