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Title: $90,000 Bitcoin Next? This Indicator Holds Clue
As the cryptocurrency market continues to navigate volatile trading conditions, a crucial indicator is pointing towards a potential upside for Bitcoin (BTC). According to recent data, a decisive break above the 200-day simple moving average (SMA) at $88,245 could propel the asset towards the $90,000 mark.
This forecast relies on the correlation between the U.S. dollar index (DXY) and the price of BTC. As the DXY has dropped to a three-year low, a rally in gold prices is fueling the cryptocurrency market’s growth. However, if prices fall below the daily SMA 50 at $84,066, the bearish scenario would be reactivated.
The article highlights that the opinions expressed here are not investment advice and should only be used for informational purposes. It emphasizes the importance of performing thorough research before making any investment decisions.
Source: https://u.today/90000-bitcoin-next-this-indicator-holds-clue
