Coinbry

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Bitcoin price struggles to reach $26K amidst 10-month high in US dollar strength

Bitcoin price struggles to reach $26K amidst 10-month high in US dollar strength

Bitcoin is facing resistance and its price trajectory is uncertain after briefly dropping below $26,000 support.

Analysts suggest that a potential head-and-shoulders formation could lead to a drop to the $22,000-$20,000 range.

Traders emphasize the importance of holding current levels as support to avoid further downside.

The U.S. Dollar Index (DXY) has reached its highest level since November 2022, which could negatively impact Bitcoin and other risk assets.

Investors should conduct their own research and be aware of the risks involved in trading and investing.

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