Bitcoin Pullback Can’t be Ruled Out Forex Signals
The pair rose above the key resistance level at 21,000 for the first time since last week. The current price is about 20% above the lowest level during the weekend.Bitcoin had a terrible weekend as its price crashed below $19,000 for the first time since 2020. This decline happened as investors continued worrying about the coin’s demand amid a high-interest rate environment. It also coincided with the worst week for stocks since 2020 as the S&P 500 moved to a bear market.
At the same time, stocks are doing well. As Bitcoin held above $21,000, American shares did well, with the Dow Jones rising by more than 600 points. The Nasdaq 100 index, on the other hand, rose by more than 400 points. In the past few months, Bitcoin has had a close correlation with American shares.
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