Bitcoin manages an impressive comeback from two-month lows, but how high can BTC price action go before speculators take over?In a stirring comeback, BTC price action has managed to leave its latest swing lows far behind it, gaining nearly $8,000 versus the pit of last week’s sell-off.
On exchanges, things remain promising, with funding rates neutral, and there are few signs of a mass desire to long BTC at current levels. If Bitcoin sees a change of trajectory, traders and analysts will be interested in seeing to what extent nearby support levels succeed at limiting any fresh downside.
“Upcoming week is going to be an interesting one, likely we'll see some more upwards momentum as Friday showed the way for the Dollar & Bitcoin with terrible economic data. QE is coming soon.”U.S. dollar strength took a hit on the jobs data, with the U.S. Dollar Index declining precipitously to spike to its lowest levels since April 10.
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