Bitcoin snatched upside liquidity as the US trading session began, but traders warned over a failure to preserve BTC price gains.
Bitcoin (BTC) neared $67,000 at Monday’s Wall Street open as the US-Iran peace deal kept risk assets surging.
Data from TradingView tracked BTC price action as BTC/USD added another 1.5% since the weekly close.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
Details of the Iran ceasefire agreement, set to be signed later in the week, delivered major upside to US stocks, with the S&P 500 and Nasdaq Composite Index adding up to 2.4%.
In one of his latest posts on Truth Social, US president Donald Trump reported that shipping traffic through the Strait of Hormuz oil route was already increasing.
“Ships are starting to move, many loaded up with Oil, out of the Strait of Hormuz,” he wrote.
Among traders, opinions still differed over whether Bitcoin would continue higher or abort its latest relief bounce.
“This week is shaping up to be very interesting,” trader Killa told X followers, eyeing a rejection above $67,000.
Trading account JDK analysis argued that it was “still too early to call” a reliable BTC price bottom.
“Now we’re also seeing a break of major resistance and acceptance back into previous value, opening the door for a larger move to the upside,” it wrote on the day.
BTC/USDT one-week chart. Source: JDK Analysis/X
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