Bitcoin eyes best weekly gains in 3 months as BTC price slips below $21K
Bitcoin (BTC) hit three-day lows into the July 10 weekly close as $21,000 gave way as short-term support.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD giving up some of its gains from earlier in the week while still looking to cap its best weekly gains since March.
The pair circled $20,850 at the time of writing, around $1,600 below the week’s peak at the 200-week moving average.
Despite no continuation of the breakout, Bitcoin gave some commentators cause for cautious optimism ahead of the new week beginning.
“The markets are showing higher timeframe bullish divergences and the sentiment is the same as on a funeral,” Cointelegraph contributor Michaël van de Poppe summarized.
Popular trader Crypto Tony meanwhile entertained the idea of a new sideways phase entering before a deeper drop, something which he imagined “would drive everyone crazy.”
$BTC / $USD - Playing with ideasIf we start to reject harder and fail to reclaim the range high, we may start to see something like this shape up. Would drive everyone crazy i can imagine pic.twitter.com/wwoa8vjMRv
Macro conditions remained uncertain, with upheaval in Sri Lanka adding to a sense of nervousness engendered by the common global theme of energy, food and financial crisis.
All this crazy shit happening in the world, I just can’t see how anyone can be macro bullishwe need new buyers and retail, without that there is no continuation… only chopall pumps are an opportunity to exit and buy lower$BTC pic.twitter.com/npAKi1L8uw
Attention focused on the U.S. dollar Index (DXY), which had ended the week back on support after spiking to fresh highs not seen in twenty years.
Those seeking a golden buying opportunity on BTC meanwhile got a fresh key signal from the
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