Bitcoin Market Structure Turns Bearish as Coin Enters High Value Area

Crypto Usage in The United States Expected to Rise 70% In 2022

A survey by Insider Intelligence reported that 10.7% of US crypto owners will use their cryptocurrencies as a means of payment this year amidst an ongoing upswell of interest in the industry.

Technically speaking

Bitcoin Enters High Value Area

Bitcoin/Dollar trades at $38,400 at the time of writing, down -3% week-on-week.

Value Buyers Accumulate BTC

However, a technical relief rally is probably close. The Dollar index ( DXY) has reached historically significant monthly highs, as risk-off sentiment prevails and monetary tightening continues. This is a place to look for a correction in dollar strength.

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Read More: Large Buyers Take Advantage of Bitcoin’s Flash Sale

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Chris on Crypto

Chris on Crypto

71 Followers

Journalist-turned crypto-writer & analyst; forging the narrative, stacking sats.