TRENDING:
Trade War
XAU/USD
Silver
EUR/USD
GBP/USD
USD/CAD
AUD/USD
Sponsored by
Login
|

BTC/USD outlook: Bulls likely to take a breather following repeated failure at 200-DMA barrier

BTC/USD outlook: Bulls likely to take a breather following repeated failure at 200-DMA barrier
Slobodan DrvenicaSlobodan DrvenicaWindsor Brokers

BTC/USD

BTCUSD edged higher on Friday and hit new three week high, in attempts to extend 4.6% advance on Thursday.

Bitcoin received strong boost from Fed rate cut and underpinned by dovish shift in global rate view.

Technical picture is bullish on daily chart (multiple MA bull-crosses / 14-d momentum is in steep ascend), but bulls face headwinds from overbought conditions, which was presented through repeated failure to break pivotal 200DMA barrier at 63869.

The second consecutive daily close below 200DMA to confirm signal that bulls may take a breather for consolidation before resuming.

Dips are likely to be shallow, as overall picture is bullish and positive sentiment is strong.

Support at 61157 (100DMA) should ideally contain dips and guard lower pivots at 60000 zone (psychological / 10/55 DMA bull-cross) loss of which would sideline bulls.

Res: 63869; 64138; 64500; 65050.
Sup: 62607; 62103; 61928; 61156.

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

Ripple falters amid sell-off jitters and negative funding rates

Ripple falters amid sell-off jitters and negative funding rates

Ripple (XRP) has come under pressure, drifting lower to $1.35 at the time of writing on Tuesday. The over 2% correction looks poised to erase the previous day’s gains, which lifted the remittance token to $1.42.

Bitcoin could risk $50,000 amid the US-Iran war, mirroring the Russia-Ukraine war losses

Bitcoin could risk $50,000 amid the US-Iran war, mirroring the Russia-Ukraine war losses

Bitcoin (BTC) remains at downside risk amid escalation in the Middle East war, as Iran retaliates against the US, Israel, and its neighbouring countries. Drawing parallels to the early days of the Russia-Ukraine war, Bitcoin could extend losses below $60,000. 

Crypto Today: Bitcoin, Ethereum, XRP pull back as sentiment remains in extreme market fear

Crypto Today: Bitcoin, Ethereum, XRP pull back as sentiment remains in extreme market fear

The cryptocurrency market is broadly in the red on Tuesday as the Middle East grapples with an escalating war. Bitcoin (BTC) is in a pullback, trading below $67,000 at the time of writing, and most altcoins follow suit.

Bitcoin slips below $67,000 as risk-aversion grows amid escalating US-Iran war

Bitcoin slips below $67,000 as risk-aversion grows amid escalating US-Iran war

Bitcoin price slides 3% on Tuesday, nearly erasing the previous day's rebound. US-listed spot ETFs recorded an inflow of more than $450 million while Strategy added 3,015 BTC on Monday.

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: Another month of losses, and it’s been five

Bitcoin: Another month of losses, and it’s been five

Bitcoin (BTC) price is stabilizing around $68,000 at the time of writing on Friday, but the Crypto King is poised to close February on a fragile footing, marking its fifth consecutive month of losses since October and a rare start to the year with back-to-back monthly corrections.