Bitcoin (BTC) stayed below the $33,000 mark on July 9 with a fresh price dip also putting an end to altcoin strength.

Biểu đồ nến 1 giờ BTC / USD (Bitstamp). Nguồn: TradingView

BTC price flips $33,000 ủng hộ

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it ranged below a previous support level into Friday.

Earlier in the week, $33,000 saw multiple tests but remained in place as support, this only coming undone on Thursday.

$33,000 then became involved in a form of short-term support/resistance flip, with Bitcoin unable to reclaim it and conversely seeing rejection at each attempted rally.

Tại thời điểm viết, the largest cryptocurrency traded at around $32,700, stuck in a narrow range with $32,000 as its floor.

For popular trader Crypto Ed, the time was right to eye macro trends for hints as to what could happen to Bitcoin next.

Đặc biệt, Mỹ. dollar was on the radar — upside in the U.S. chỉ số tiền tệ đô la (DXY), hiện đang ở 92.4, should first subside in order for crypto markets to have room to breathe.

Still keeping an eye on DXY for strength in cryptoI think not before DXY reaches red box, reverses and continues its downtrend. ~$94,= it is,” he commented on the day.

chúng ta. chỉ số tiền tệ đô la (DXY) 1-biểu đồ nến ngày. Nguồn: TradingView

As Cointelegraph often reports, DXY strength tends to be coupled with increased price pressure on Bitcoin, with the reverse also true. This inverse correlation is not fool-proof, Tuy nhiên, with the past year seeing multiple exceptions to the rule.

Altcoins stall as Bitcoin drops

Trên altcoin, trong khi đó, gains were muted by Bitcoin’s slide lower.

The top fifty cryptocurrencies by market cap saw modest losses overnight, contrasting with previous strength.

Có liên quan: Is Bitcoin overbought or oversold? Use Bollinger Bands to find out!

Ether (ETH), the largest altcoin, likewise tracked sideways despite continued progress on its upcoming London hard fork.

As noted by trader and analyst Rekt Capital, Tuy nhiên, price action can still target levels below $2,000 and remainconfluentwith the overall uptrend in 2021.

Lots of confluent support in the $1850-$2000 khu vực,” he added as part of various comments on Thursday.

An attack on 0.070 BTC for the ETH/BTC pair likewise ended in defeat as the week drew to a close, this itself short of major resistance at around 0.075 BTC.

ETH/BTC 1-hour candle chart (Bitstamp). Nguồn: TradingView