BTC/USD outlook: Bitcoin pressures psychological 60K support following 4% drop on Monday
|BTC/USD
Bitcoin fell around 4% by early US trading on Monday, in the biggest one-dal loss since Apr 30.
Fresh acceleration lower is pressuring psychological 60K support (also near Fibo 76.4% of 56427/71929 rally).
Stretched daily studies add to signals that bears would face increased headwinds on approach to 60K pivot, with upticks to stay under the base of thick daily cloud (64214) to keep bears in play and offer better selling levels.
Sustained break through 60K zone to open way for test of 200DMA (57331) and test of key support at 56427 (May 1 low).
Res: 62349; 63235; 64214; 64815.
Sup: 60085; 60000; 58608; 57331.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.