Bitcoin hits 3-week high as trader says 'all signs there' to short BTC

Bitcoin hits 3-week high as trader says ‘all signs there’ to short BTC

Bitcoin (BTC) kept grinding higher at the Sept. 12 Wall Street open as traders called for an imminent correction.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView$23,000 proves essential to flip

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $22,481 on Bitstamp, its highest since Aug. 19.

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The pair had preserved existing gains over the weekend, with a declining U.S. dollar providing a catalyst for risk assets as the week began.

The S&P 500 and Nasdaq Composite Index both traded up 1.1% after the first two hours’ trading. By contrast, the U.S. dollar index (DXY) was down 0.7% on the day.

U.S. dollar index (DXY) 1-day candle chart. Source: TradingView

Analyzing the situation, popular trader Crypto Ed said that the time had now come to eye a corrective move on

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