Bitcoin (BTC) starts a new week in familiar territory — crucial support is back, but bulls have not yet got their breakout. Could that soon change?
After reclaiming $33,000 on Friday, BTC/USD has held on to the trading corridor it had been in before last week’s brief volatility.
That involved a dip to $32,000 on the back of sudden short positions accumulating on exchange Bitfinex.
The impact was only temporary, however, and the weekend has seen highs of $34,600 on Bitstamp.
Cointelegraph present five factors to consider when eyeing what Bitcoin might do next.
Stocks boom as USD hits classic resistance
With stocks going upwards as usual, there seems to be little in terms of friction that could cause problems for cryptocurrency gains.
While analysts are increasingly warning about a comedown in the future, the mood in equities remains firmly buoyant this week.
“There does seem to be a complacency that Goldilocks is not only alive and well, but that it’s getting stronger by the day,”