Bitcoin Eyes ‚Next Big Move‘ as $19K Retest Looms: Analyst

• Bitcoin (BTC) is currently trading in a „pivotal area“ between $19,000 and $28,000.
• Popular trader Skew believes that the next few days will decide which direction BTC’s price will go.
• The direction of BTC’s price could be affected by U.S. dollar strength, bond yields and stock market performance.

Bitcoin Price Range Between $19K and $28K

Popular trader Skew believes that Bitcoin (BTC) is currently trading in a „pivotal area“ between $19,000 and $28,000. This week could decide which direction BTC’s price will go, as it has been consolidating over the past two weeks.

U.S Dollar Strength and Other Factors Could Affect Price Direction

The direction of BTC’s price could be affected by U.S dollar strength, bond yields and stock market performance. Skew suggested that this makes it more likely for USD to rally into Friday due to the structure of DXY / JPYUSD.

Decision Time for Bitcoin Price Action

It is decision time for Bitcoin as the range it is in could also see a trip to either $19K or $28K depending on market conditions in the coming days according to Skew’s analysis. There is no clear indication as to which direction prices are going yet but these factors will play a role in determining where prices end up this week.

Bulls Eager To Continue Rally To $30K

Bulls eager to continue their trip towards the coveted goal of reaching a price point at around $30k may have their work cut out for them if USD strength persists throughout this week’s trading session . Until then there is still speculation about which way prices are headed next but traders should keep an eye on USD strength since it might affect the outcome significantly .

Conclusion

Ultimately, this week will decide where Bitcoin’s price goes next as traders wait with anticipation to see how things play out within its current range between$19k -$ 28k ,which can be influenced by various factors such as U . S . dollar strength , bond yields ,and stock market performance .