Slobodan Drvenica
Windsor Brokers
Bitcoin
Bitcoin cracked psychological 90K barrier in early Tuesday trading, in extension of Monday’s 10% rally (the biggest daily gain since May 15).
Bitcoin remains in steep bullish acceleration since Trump’s election victory (advanced 30% since Nov 6 morning), as demand exploded on expectations that Trump’s administration will be, according to campaign promises, crypto friendly.
The fact that Bitcoin moved from round figure 80K to the next one at 90K in just a bit more than one day, describes the strength of the latest rally and starts to materialize expectations for attack at psychological 100K target that I predicted in my comments and speeches in early October.
On the other hand, overbought daily studies suggest that traders may collect some profits from strong rally in past few days, with headwinds already being evident at 90K zone.
Since the bullish sentiment remains very strong, on euphoria over Trump’s victory, corrective actions are likely to be shallow and mark positioning for push through 90K.
Solid supports at 86500 / 84000 zone should ideally contain dips and keep intact lower pivot at 80K.
Res: 90000; 93016; 95000; 98940.
Sup: 86424; 85631; 84113; 81968.
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
Recommended Content
Editors’ Picks
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH and XRP hints for a pullback ahead
Bitcoin price action shows a bearish momentum on the RSI indicator, suggesting a decline ahead. Ethereum price faces resistance around the $4,000 level, indicating a pullback ahead.
Ripple week in review: Can XRP resume rally to hit a new all-time high?
Ripple's XRP is up 7% on Friday as whales are holding onto their tokens despite high profit-taking among retail traders. This attitude from whales could push XRP to a new all-time high at $3.57.
SushiSwap DAO proposes strategy to improve liquidity through treasury diversification
The Sushi decentralized autonomous organization (DAO) issued a proposal on Friday that offers a shift from the protocol's initial treasury holding in SUSHI to accommodate other assets.
Ethereum Price Forecast: ETH nears its all-time high, sees record ETF inflows and high preference than Bitcoin
Ethereum has become more attractive to investors than Bitcoin since the US elections, noted Bybit. Ethereum ETFs posted their highest single-day net inflows after raking in $428.5 million. Ethereum could soon reach a new all-time high if it surpasses the yearly high resistance of $4,093.
Bitcoin: Long-awaited $100K milestone meets profit taking
Bitcoin ends the working week hovering around $98,000 after a very volatile Thursday when it surpassed the $100K milestone and underwent a sharp correction. Strong institutional demand, whale accumulation, and the choice of a pro-crypto figure to lead the US SEC fueled the rally this week.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.