US Dollar Remains Bullish And Stable Increasing BTC’s Chances Of Plummeting Below $18,125

On October 13, the trading price of Bitcoin (BTC) ended up losing its ground in the bullish territory. The bulls were able to demonstrate strong selling pressure and that caused BTC’s price to fall.

BTC Price Fell Close to $18,125

On the mentioned day, the trading price of Bitcoin lost its value and moved down from a high trading price of $18,843.

As the price of BTC started to lose its bullish trend, a decline could be witnessed on the real-time price chart. With BTC experiencing a significant pull, its value dipped to a low of $18,125.

The Buyers were attracted

As the trading price of Bitcoin came close to a low of $18,125, the bulls came into action. They started to fight the bears to end the selling spree. Finally, the bulls did succeed and a sharp recovery was witnessed.

Even the latest trading session for Bitcoin is showing a path to recovery.

Equilibrium Formed Between Both Sides

On October 14, the bulls successfully pushed the trading price of Bitcoin over the moving averages. However, great resistance is being witnessed by the bulls at the higher trading levels.

The bulls are determined to continue their fight against the bears and keep pushing BTC’s price. They want to push the trading price of BTC to a high of $19,466 (20-day EMA).

Even the relative strength index for Bitcoin is moving toward the midpoint. It suggests that if the bulls keep at it, then BTC’s RSI may raise over the midpoint.

As the RSI is currently at the midpoint, it suggests that an equilibrium has been formed between the sellers and the buyers.

Bitcoin’s Journey to a Higher Resistance Level

If the bulls buy Bitcoin at a higher level, then it may manage to cross the $20,000 barrier once again to hit a high of $20,500.

Going forward, as the momentum keeps on building, the bulls will successfully achieve a stronger rally. This would help push BTC’s price to a high of $22,800. This would be a high resistance level for BTC.

Dollar to Pull BTC below $18,125

Despite the buying power and the bullish sentiments of the investors, it is expected the trading price of BTC may move into the bearish zone.

This would happen because of the growing value of the USD. With the above expectations data coming out for the CPI, the Feds have no choice but to increase the interest rates.

This has eventually increased the trading price of the USD, causing an inverse impact on the trading price of Bitcoin.

As the selling pressure of the bears continues to rise, backed by the rising power of the USD, Bitcoin’s price may fall below $18,125.

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