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Bitcoin outlook: Bulls regain traction on softer tariff rhetoric

Bitcoin outlook: Bulls regain traction on softer tariff rhetoric
Slobodan DrvenicaSlobodan DrvenicaWindsor Brokers

Bitcoin

Bitcoin jumped on Monday, advancing 2.7% until early US trading, as softer tones on tariffs from Trump’s administration revived positive sentiment.

Fresh strength emerges above multi-day range and generates positive signal on break of  the upper boundary of triangle on daily chart.

Daily close above triangle (upper line lays at 86113) will be minimum requirement to keep fresh bulls in play.

Key barriers at 89168 (Fibo 38.2% of 109582/76550) and 90K (round figure, former range floor and key support) are coming in focus, with break here to generate initial reversal signal and open way for stronger recovery (91295 – 55DMA and 93066 – Fibo 50% mark next targets).

Res: 89168; 90000; 91294; 93066.

Sup: 87497; 86113; 84500; 83098.

BITCOIN

Author

Slobodan Drvenica

Slobodan Drvenica

Windsor Brokers

Industry veteran with over 22 years’ experience, Slobodan Drvenica joined Windsor Brokers in 1995 when he was an active trader for more than 10 years, managing the trading desk and own account departments.

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