Slobodan Drvenica
Windsor Brokers
BTC/USD
Bitcoin price fell 2.6% in Asian/European trading on Monday, after the dollar received fresh boost from the latest comments from Donald Trump.
Although today’s dip was the biggest in one week, the price so far stays above significant 95K support (psychological/floor of congestion that extends into fifth consecutive day) keeping near-term bias with bulls.
Bitcoin hit new record high at 99800 vs dollar recently that increased pressure on magical 100K barrier, but expected strong headwinds at this zone, pushed the price lower, to hold in prolonged consolidation within 90K/100K range.
This was seen as logical reaction on recent strong post-US election rally, with crypto market being well supported by expected measures from pro-crypto Trump’s administration, but awaiting policies that Trump promised during the campaign, to be implemented that would provide fresh and significant support to bitcoin.
Near-term action shown bitcoin in defensive, but overall, in sideways mode and awaiting fresh direction signals.
Larger bulls to remain intact above 90K, with markets focusing on economic data (US Nov labor report is in focus) and political/geopolitical news.
Res: 95935; 98280; 98800; 99032.
Sup: 95000; 94199; 91501; 90000.
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.
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