Bitcoin ‘bear flag’ breakdown targets $15K as US dollar hits 20-year high By Cointelegraph

[ad_1]

Bitcoin ‘bear flag’ breakdown targets $15K as US dollar hits 20-year high

On Sept. 6, (BTC) price crumbled below $20,000 and the asset looks ready to undergo further decline in September due to a strong U.S. dollar and an ominous technical analysis pattern.

From a technical perspective, Bitcoin risks dropping to $15,000 or below in the coming weeks after breaking out of its prevailing “bear flag” pattern.

daily price chart featuring ‘bull flag’ pattern. Source: TradingView
Mutual funds asset rotations noted in HY1/2022. Source: Goldman Sachs (NYSE:)
DXY daily price chart. Source: TradingView