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Bitcoin rises above $51K as the dollar flexes muscles against the euro
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Bitcoin (BTC) regained its bullish strength after reclaiming $50,000 last week and continued to hold the psychological level as support on Dec. 27. Meanwhile, its rival for the top safe-haven spot, the U.S. dollar, also bounced off a critical price floor, hinting that it would continue rallying through into 2022.
The U.S. dollar index (DXY), which measures the greenback's strength against a basket of top foreign currencies, has been trending towards the apex of a "symmetrical triangle" pattern on its daily chart.
In doing so, the index has been treating the structure's lower trendline as its solid support level, thus hinting that its next breakout would resolve to the upside.
Should a symmetrical triangle breakout occur, the technical profit
Read more on cointelegraph.comAbout this in other media
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