A stream of bullish Bitcoin adoption news helped to push BTC price back above $37,000 but traders are unsure if the 20% move confirms a trend reversal.
“We are going to lead the shift to crypto and fintech in Mexico,” said one senator.
Altcoins moved higher while a lack of buy volume prevented Bitcoin and Ethereum price from breaking out after the completion of a bullish inverse head and shoulders pattern.
Strong hands accumulated Bitcoin throughout last week’s historic correction but BTC’s inability to reclaim the $40,000 level has some traders afraid of a dead cat bounce.
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