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Bitcoin Trader Fears a Bear Market Comeback: Watch the US Dollar

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it ignored the start of U.S. equities trading to stay near $22,800.

The pair had seen flash volatility into the weekly close, abandoning levels nearer its six-month highs above $24,000.

Bitcoin thus worried market participants as the week began, with an increasing number eyeing a potential retest of $20,000 or lower.

For on-chain monitoring resource Material Indicators, attention now turned to two classic chart features: a “golden cross” on daily timeframes and a “death cross” on weekly timeframes.

Representing interplay between the 50 and 200-period moving averages, golden and death crosses traditionally indicate upcoming bullish and bearish moves, respectively.

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