$13K Bitcoin price predictions emerge with BTC falling below historic trendline

$13K Bitcoin price predictions emerge with BTC falling below historic trendline

Bitcoin (BTC) prices broke below a long-standing support wave that was instrumental in keeping its strong bullish bias intact after March 2020’s crypto market crash.Dubbed the 50-week simple moving average, or 50-week SMA, the wave represents the average price traders have paid for Bitcoin over the past 50 weeks. Over the years, and in 2020, its invalidation as price floor has contributed to pushing the Bitcoin market into severe bearish cycles.Bitcoin price breakdowns below 50-week

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Big bullish pattern on US dollar index chart puts Bitcoin at risk of losing $30K

Big bullish pattern on US dollar index chart puts Bitcoin at risk of losing $30K

Dollar traders have kept a close eye on a potentially bullish “inverse head-and-shoulders” pattern building in the U.S. dollar index (DXY) chart. Meanwhile, the smell of a stronger greenback is weakening Bitcoin’s (BTC) upside case, especially as the flagship cryptocurrency struggles to break out of its current $30,000-35,000 trading range.Three troughs, one price ceilingIn detail, the inverse head-and-shoulders (IH&S) pattern forms after a downtrend. It contains three successive troughs, with the middle trough (head) being

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Record outflows from Canada’s biggest Bitcoin fund see BTC reserves drop by 50%

Record outflows from Canada’s biggest Bitcoin fund see BTC reserves drop by 50%

A Canada-based Bitcoin fund, operated by 3iQ Corp, has witnessed a dramatic decline in its BTC reserves since June.Literally named the Bitcoin Fund (QBTC:CN), the closed-end investment product, was holding around 24,000 BTC in its vaults in early June. However, as the monthly session progressed, the reserves first dropped to below 16,000 BTC in a dramatic, straight-line decline. Later, another massive withdrawal pushed the Bitcoin Fund’s BTC reserves to around 13,000 BTC, according to on-chain

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