Bitcoin price corrects after hitting a wall at a multi-month descending trendline
Cointelegraph
Published Aug 15, 2022 04:48PM ET
Updated Aug 16, 2022 04:40AM ET
On Aug. 15, Bitcoin (BTC) price and the wider market corrected while the S&P 500 and DOW looked to build on four-straight weeks of robust gains. Data from TradingView and CNBC show the Dow pushing through its 200-day moving average, a first since April 21 and perhaps a sign for bulls that the market has bottomed.
While equities markets have been strikingly bullish in the face of high inflation and a steady schedule of interest rate hikes, a number of traders fear that the current 32-day uptrend in the DOW and S&P 500 could be a bear market rally.
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Written By: Cointelegraph
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