Bitcoin climbs above $41K on Wall Street open as gold dives, dollar cements highs

Bitcoin(BTC reclaimed $41,000 on April 14 asThe first day Western stock market trading after EasterThe bullish picture is more apparent.

Bitcoin climbs above $41K on Wall Street open as gold dives, dollar cements highs
BTC/USD 1-hour candle graph (Bitstamp). SourceTradingView

AnalysisA call to caution on BTC

DataFrom Cointelegraph Markets Pro and TradingView showed BTC/USD spiking above $41,000 during April19 reaching five days highs on Bitstamp.

InIt was a refreshing break from the gloomy holiday season. The largest cryptocurrency started to replicate what? goldThe price had fallen from $1.998 to $1.960 an ounce at the time this article was written, but it had been achieved within days.

Bitcoin climbs above $41K on Wall Street open as gold dives, dollar cements highs
1-hour candle chart XAU/USD SourceTradingView

EquallyThe U.S. was however energized. dollar, which has continued to consolidate its strength in an ongoing headwind for BTC.

The U.S. dollarCurrency index (DXY), remained aboveThe critical 100 mark onAnalysts had predicted that the crypto market would make a comeback, and today was this day.

Bitcoin climbs above $41K on Wall Street open as gold dives, dollar cements highs
U.S. dollarCurrency index (DXY), 1-day candle chart. SourceTradingView

Ascrypto sentiment exited “extreme fear,” monitoring resource Material Indicators nonetheless called for a level-headed appraisal of BTC price action.

Several moving averages, it said on April 19, needed to be reclaimed before the outlook could fundamentally change.

On April18, however, the account acknowledgedThe current chart setup is bullish.

PunditHopes for pins onBull trigger of RSI

In a now rare bull flag from the stock market, meanwhile, the S&P 500 posted a bottom signal on April19. This has historically fueled BTC price increases.

Related: BitcoinData suggests that hodlers seeking $100K are what’s keeping 40% price decline.

Themove refers to the stochastic absolute strength index (RSI). onThe three-week chart. Aurélien Ohayon, CEO of software firm XOR Strategy, concluded that a repeat performance was now due.

Bitcoin’sYour own RSI chart was similarly primed for positive results. OnDaily timeframes, RSI stood in at 44.7 after just climbing aboveThe 14-day moving average is a bullish event that occurred throughout 2022.

Bitcoin climbs above $41K on Wall Street open as gold dives, dollar cements highs
BTC/USD 1-day candle charts (Bitstamp) with RSI. SourceTradingView

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