Bitcoin continues to trade in a tight range with low volatility between the high area north of $19,000 and $20,000. The cryptocurrency is moving about critical support, but macroeconomic factors threaten to push it into previous lows. Related Reading: Lightning Speed: 5 Ways To Make Money/ Earn Sats Using The Lightning Network At the time of writing, Bitcoin (BTC) trades at $19,700 with a 1% and 8% loss in the last 24 hours and 7 days, respectively. The cryptocurrency’s performance has been affecting the entire sector as Ethereum (ETH), Binance Coin (BNB), and another retrace to early August levels. At these low volatile levels, the battle between bulls and bears seems more evident. Bitcoin was able to close its August monthly candle about critical support which could contribute to a potential relief. However, the U.S. dollar presents a potential short-term hurdle for risk-on assets. Data from a crypto analyst indicates that the currency broke about an important resistance and might make a fresh run into levels last seen in 2003. As seen below, the U.S. dollar, as measured by the DXY Index, breach the resistance at 109 and could move into a multi-year high of 111 before re-testing previous levels. This breakout must be confirmed by a daily candle close but seems likely to extend as the dollar consolidated below resistance before running higher. According to crypto analyst Justin Bennett, this U.S. dollar rally poses a risk for...
