Bitcoin rises above $41,000 at the Wall Street opening with gold dip and dollar cementing highs

Bitcoin sculpts its own trajectory as Wall Street negotiations begin in the first session after Easter.

Bitcoin (BTC) recovered $41,000 on April 14 as the first day of trading on the Western stock market after Easter painted a more optimistic image.

Analysis calls for caution in BTC

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD rising above $41,000 on April 19, reaching five-day highs on Bitstamp.

In a refreshing change in the dark atmosphere during the holiday period, the largest cryptocurrency began to copy what gold had achieved days earlier, the latter since it fell from $1,998 to $1,960 per ounce at the time of writing.

Equally energized, however, was the US dollar, which continued to consolidate its strength in a potential counterwind for BTC.

The US dollar exchange rate index (DXY) remained above the crucial mark of 100 on the day, with analysts previously predicting that its next step would be a decisive moment for cryptocurrencies.

As crypto sentiment came out of "extreme fear", the Material Indicators monitoring feature, however, required a balanced assessment of BTC price action.

Several moving averages, he said on April 19, needed to be recovered before the prospects could fundamentally change.

Before you get too excited about yesterday's #Bitcoin price action, remember that bulls need to recover these major moving averages to validate a trend reversal. To avoid a possible bull trap.