Slobodan Drvenica
Windsor Brokers
BTC/USD
BTCUSD surged through former top and psychological 110K barrier and hit new record high near112K on Thursday.
The sentiment brightened on growing hopes of progress in crypto regulatory that sparked strong demand from big names and pushed the price higher.
Completion of correction from former all-time high ($109528) signals start of new phase of coin’s broader uptrend.
Sustained break above 110K is needed to confirm fresh bullish signal and open way for fresh advance, as the pair is on track for the sixth consecutive weekly gain and second straight strong monthly advance.
Meanwhile, bulls are likely to take a breather while markets digest the new conditions, with limited dips rather to be a positioning for fresh push higher
Broken key resistances reverted to immediate and solid supports, guarding rising 10DMA (105400) where potential deeper dips should find firm ground.
Stronger acceleration above 110K would unmask next key target at 120K.
Res: 111941; 115000; 116985; 117887.
Sup: 110000; 109582; 107090; 105400.
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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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