Bitcoin Weekly Outlook: Is BTC/USD About To Surge Higher?

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Bitcoin was able to pare a significant portion of the losses it incurred last week due to a strengthening dollar sentiment. And now, the benchmark cryptocurrency is looking to continue its upside momentum based on a favorable fundamental outlook in the new week. BTC/USD was up 1.05 percent to $10,891 during the early morning trading session on Monday. Its latest uptick appeared as buyers tried to slow down in the US dollar market. A trade through 94.74–the US dollar index’s (DXY) local top–seemed unlikely as traders assessed the resumption of coronavirus stimulus package talks this week. DXY corrects lower after testing resistance at 94.74-level. Source: TradingView.com US Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi indicated that they will resume negotiations over the long-delayed aid. The package, which may scale up to $2.4 trillion, will benefit millions of American households and individuals who qualify. “I am hoping for a…

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