The long-term uptrend for the Dollar is in jeopardy as bears continue to apply pressure. Meanwhile, Bitcoin bulls are storming higher within arms reach of the all-time high.
After starting a bullish uptrend back in June, the Dollar is starting to falter as the price struggles to breach resistance at 94.200. Last week price printed a doji candle at this level as bullish momentum starts to die down. Today, bears are appearing eager to break support at 93.500.
Traders who went long for Bitcoin last week are in a considerable amount of profit as the price floats above $62,000. This is near the all-time high of $64,878. Price action on the daily is still bullish as price action continues to print hammers. The long-term target is still $70,000.
While the Dollar continues its clash between bulls and bears, traders could expand their trading radar to the crypto and commodities markets. These markets are currently thriving with ideal price action being printed on the charts.
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