{"id":548479,"date":"2023-02-06T19:00:39","date_gmt":"2023-02-06T16:00:39","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-trader-fears-a-bear-market-comeback-watch-the-us-dollar\/"},"modified":"2023-02-06T19:00:39","modified_gmt":"2023-02-06T16:00:39","slug":"bitcoin-trader-fears-a-bear-market-comeback-watch-the-us-dollar","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-trader-fears-a-bear-market-comeback-watch-the-us-dollar\/","title":{"rendered":"# Bitcoin trader fears a bear market comeback: Watch the US dollar"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a4ea662e421f\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a4ea662e421f\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-trader-fears-a-bear-market-comeback-watch-the-us-dollar\/#%E2%80%9D_Bitcoin_trader_fears_a_bear_market_comeback_Watch_the_US_dollar_%E2%80%9C\" >&#8221; Bitcoin trader fears a bear market comeback: Watch the US dollar &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-trader-fears-a-bear-market-comeback-watch-the-us-dollar\/#Bitcoin_Golden_cross_meets_death_cross\" >Bitcoin: Golden cross meets death cross<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-trader-fears-a-bear-market-comeback-watch-the-us-dollar\/#Dollar_strength_rebounding_is_%E2%80%9Cbad_news%E2%80%9D_for_crypto\" >Dollar strength rebounding is &#8220;bad news&#8221; for crypto<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_trader_fears_a_bear_market_comeback_Watch_the_US_dollar_%E2%80%9C\"><\/span>&#8221; Bitcoin trader fears a bear market comeback: Watch the US dollar &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-5a4050f8>Bitcoin (BTC) stayed motionless at the Feb. 6 Wall Street open as analysis showed an \u201cinteresting dynamic\u201d in play on BTC price charts.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/173e0e36-b6df-4562-ba73-de447fe2d177.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_Golden_cross_meets_death_cross\"><\/span>Bitcoin: Golden cross meets death cross<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a> followed BTC\/USD as it ignored the start of U.S. equities trading to stay near $22,800.<\/p>\n<p>The pair had seen flash volatility into the weekly close, abandoning levels nearer its six-month highs above $24,000.<\/p>\n<p>Bitcoin thus worried market participants as the week began, with an increasing number eyeing a potential retest of $20,000 or lower.<\/p>\n<p>For on-chain monitoring resource Material Indicators, attention now turned to two classic chart features: a \u201cgolden cross\u201d on daily timeframes and a \u201cdeath cross\u201d on weekly timeframes.<\/p>\n<p>Representing interplay between the 50 and 200-period moving averages, golden and death crosses traditionally indicate upcoming bullish and bearish moves, respectively.<\/p>\n<p>Such is their notoriety that automated trading tools may buy or sell as required should one or both events occur.<\/p>\n<p>\u201cAt the moment it occurs, a Golden Cross on the Bitcoin D chart could trigger some buying. Likewise, a pending Death Cross on the W chart will trigger some algotrading bots to sell,\u201d Material Indicators <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MI_Algos\/status\/1622608720965390342\">wrote<\/a> in a tweet on the day.<\/p>\n<p>It also highlighted upcoming comments from Jerome Powell, Chair of the United States Federal Reserve. Due on Feb. 7, cues over inflation policy present in Powell\u2019s words could easily move markets.<\/p>\n<p>Continuing on the chart crosses, Material Indicators co-founder Keith Alan described them as an \u201cinteresting dynamic evolving.\u201d<\/p>\n<p>\u201cBitcoin is headed for an eminent Golden Cross on the D chart which is short term bullish and could trigger some TA algos to buy. We are also headed for a Death Cross on the W chart which is longer term bearish,\u201d he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/KAProductions\/status\/1622581106322145281\">stated<\/a> in his own <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> post.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/2f6e1566-3825-4adc-9339-76c0c6c83a01.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD annotated charts with golden and death crosses marked. Source: Keith Alan\/ Twitter<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Dollar_strength_rebounding_is_%E2%80%9Cbad_news%E2%80%9D_for_crypto\"><\/span>Dollar strength rebounding is &#8220;bad news&#8221; for crypto<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On macro, U.S. stocks were down slightly at the open, with the S&amp;P 500 and Nasdaq Composite Index losing 0.8% and 1.1%, respectively. Asian stocks had also finished the day lower.<\/p>\n<p><strong><em>Related:\u00a0Is BTC price about to retest $20K? 5 things to know in Bitcoin this week<\/em><\/strong><\/p>\n<p>The U.S. dollar index (DXY) meanwhile continued its rebound in a move threatening to pressure risk assets further.<\/p>\n<p>The Index traded above 103.6 at the time of writing, its highest since Jan. 9, as analysts began to fear for the health of the crypto rally.<\/p>\n<p>\u201cIt <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears the dollar is attempting to reclaim its yearly uptrend,\u201d popular trader and analyst Roman <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Roman_Trading\/status\/1622614006849499136\">summarized<\/a>.<\/p>\n<blockquote><p>\u201cThis is bad <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> for crypto &amp; stocks because it will indicate a pullback \/ continuation of bear market. This week is very important. A reclaim of trend, $SPX loses 4100, &amp; I turn back to macro bearish.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/2656b8a8-dc32-4243-954f-2bc2830e78cc.png\"><figcaption style=\"text-align: center;\"><em>U.S. dollar index (DXY) 1-day candle chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p class=\"post-content__disclaimer\">The views, thoughts and opinions expressed here are the authors\u2019 alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-trader-fears-a-bear-market-comeback-watch-the-us-dollar\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin trader fears a bear market comeback: Watch the US dollar &#8220; Bitcoin (BTC) stayed motionless at the Feb. 6 Wall Street open as analysis showed an \u201cinteresting dynamic\u201d in play on BTC price charts. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin: Golden cross meets death cross Data from Cointelegraph Markets Pro and&#8230;<\/p>\n","protected":false},"author":1,"featured_media":548480,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/58745d8c-749f-41a9-830d-02098e851e22.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,76153,73785],"class_list":["post-548479","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-dollar","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/548479","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=548479"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/548479\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/548480"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=548479"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=548479"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=548479"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}