Bitcoin continues to trade in a tight range with low volatility between the high area north of $19,000 and $20,000. The cryptocurrency is moving about critical support, but macroeconomic factors threaten to push it into previous lows.
At the time of writing, Bitcoin (BTC) trades at $19,700 with a 1% and 8% loss in the last 24 hours and 7 days, respectively. The cryptocurrency’s performance has been affecting the entire sector as Ethereum (ETH), Binance Coin (BNB), and another retrace to early August levels.
BTC’s price moving sideways on the 4-hour chart. Source: BTCUSDT Tradingview
At these low volatile levels, the battle between bulls and bears seems more evident. Bitcoin was able to close its August monthly candle about critical support which could contribute to a potential relief.
However, the U.S. dollar presents a potential short-term hurdle for risk-on assets. Data from a crypto analyst indicates that the currency broke about an important resistance and migh ..
Support the originator by clicking the read the rest link below.
