TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
|

BTC/USD outlook: Bitcoin regains ground and reverses more than a half of the latest sharp fall

BTC/USD outlook: Bitcoin regains ground and reverses more than a half of the latest sharp fall
Slobodan DrvenicaSlobodan DrvenicaWindsor Brokers

BTC/USD

BTCUSD kept firm tone on Monday and attempts to extend recovery from new 3 ½ month low (102880) hit after the biggest drop in 2025 on Friday and Saturday, when bitcoin lost near 10% of its value.

Announcement of President Trump’s plan to raise tariffs on Chinese goods by 100% sparked a sharp sell-off, as bitcoin did not act as digital safe-haven asset, but was sold in risk aversion along with stocks.

Technical picture on daily chart has improved after strong downside rejection on Saturday that left daily candle with very long tail, pointing to strong downside rejection and formation of bear-trap under 200DMA.

Subsequent recovery on Sunday generated another positive signal on completion of bullish engulfing pattern, with fresh extension higher on Monday, probing through daily cloud top (115900).

Today’s close above 55DMA and 50% retracement of 126299/102880 fall (114330/114589 respectively) is needed to keep fresh bulls intact, with close above cloud top to confirm signal and expose targets at 117.353 (Fibo 61.8%) and 120000 (psychological) in extension).

Caution on return and close below daily cloud base (113169).

Res: 116053; 117353; 117980; 120000.
Sup: 114589; 113169; 111826; 110000.

Chart

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.

More from Slobodan Drvenica
Share:

Editor's Picks

Zcash Price Forecast: ZEC declines as US inflation surprise offsets fresh ETF inflows

Zcash Price Forecast: ZEC declines as US inflation surprise offsets fresh ETF inflows

Zcash is trading in the red, extending its previous day’s roughly 6% losses as the broader cryptocurrency market falls on rising US inflation. The US Consumer Price Index print came in higher than expected, at an annual increase of 3.7% versus the expected 3.6%, raising concerns about inflation and rate hikes.

Ripple and Stellar outlook: XRP and XLM extend losses as US inflation data weighs in

Ripple and Stellar outlook: XRP and XLM extend losses as US inflation data weighs in

Ripple and Stellar extend their losses on Thursday as bearish momentum builds, having corrected over 7% and 11% so far this week. XRP and XLM both slip below key support zones, indicating weakening technical structure.

Bitcoin falls on hot CPI: Why $80,000 support matters

Bitcoin falls on hot CPI: Why $80,000 support matters

Bitcoin's most critical level to watch is near $80,000 as September's hot inflation reading pressures the crypto market, according to Glassnode. The top crypto declined within minutes of the September CPI release, which showed a 3.7% annual increase in headline inflation, above forecasts of 3.6%. Core inflation, which excludes food and energy prices, came in at 2.6%.

Ethereum Price Forecast: ETH falls below $2,500 as hot CPI raises Fed hike odds

Ethereum Price Forecast: ETH falls below $2,500 as hot CPI raises Fed hike odds

Ethereum (ETH) extended its decline below $2,500 on Wednesday after a hotter-than-expected US inflation print renewed selling across the crypto market. At the time of writing, the top altcoin trades near $2,430, down 3.1% in the past 24 hours. The US Consumer Price Index (CPI) for September rose 0.6% monthly, in line with market forecasts and up from a 0.4% increase in August.
Bitcoin: Uptober or Rektober?

Bitcoin: Uptober or Rektober?

Bitcoin (BTC) price is down over 4% so far this week, trading below $83,000 at the time of writing on Friday as mounting selling pressure threatens to derail the seasonal “Uptober” rally. Profit-taking, a surge in long liquidations and weakening demand from institutional investors are weighing on BTC.