Sink or swim for BTC? Traders are as divided as ever over Bitcoin's future.
Macroeconomic data releases from the United Statesbut no overall trend change as traders bided their time heading into the weekend.
“Seeing $50,000 calls already on Bitcoin and we have yet to complete a higher high and higher low market structure change,” popular trader Crypto TonyMore optimistic was fellow trader Credible Crypto, who doubled down on a theory which compared current BTC price action to that of late 2020, just after Bitcoin had passed its old 2017 all-time high.
“After such a long and deep sell-off, do we think the DXY is already done on the upside? I don't. Lotta shorts to squeeze yet,” macro investor David BradyU.S. dollar index 1-day candle chart. Source: TradingViewFocusing on monthly timeframes, meanwhile, trader and analyst Rekt Capital eyed a potential cue for Bitcoin to dip before continuing higher.This came in the form of its relative strength index , which in January bounced from all-time lows to reclaim a key support level.
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