Cryptocurrency News
Bitcoin price corrects after hitting a wall at a multi-month descending trendline
2022.08.16 19:57
Bitcoin price corrects after hitting a wall at a multi-month descending trendline
On Aug. 15, Bitcoin (BTC) price and the wider market corrected while the S&P 500 and DOW looked to build on four-straight weeks of robust gains. Data from TradingView and CNBC show the Dow pushing through its 200-day moving average, a first since April 21 and perhaps a sign for bulls that the market has bottomed.
While equities markets have been strikingly bullish in the face of high inflation and a steady schedule of interest rate hikes, a number of traders fear that the current 32-day uptrend in the DOW and S&P 500 could be a bear market rally.
