Bitcoin Poised for Uptrend if It Holds Above $28,400; Weaker Dollar Could Boost Bitcoin Further

Bitcoin market structure suggesting an uptrend underway if it settles above $28,400.

Weakening dollar index could add fuel to Bitcoin's fire.

Dollar index facing resistance around 107 level, which is 50% retracement of last swing.

Break above 107-110 range could give more room for dollar to rise.

At writing, Bitcoin $27,907, dollar index 106.29 points.