Slobodan Drvenica
Windsor Brokers
BTC/USD
BTCUSD regained traction on Monday and resumes bull-leg off 58850 (Oct 10 low) after two-day pause.
Fresh advance broke through 200DMA (63302) which capped the action in past two weeks, advancing around 3.5% during Asian and European session.
Bulls cracked Fibo barrier at 64691 (76.4% retracement of 66495/58850) and eye next pivot at 65424 (falling trendline, the upper boundary of larger triangle) which guards key near term barrier at 66495 (Sep 27 peak).
Ascending 14-d momentum broke into positive territory and MA’s turned to bullish setup, contributing to positive near-term outlook, although increased headwinds on approach to the trendline, cannot be ruled out, as stochastic is strongly overbought.
Daily close above 200DMA is seen as minimum requirement to keep fresh bulls in play, with limited dips to find ground above broken Fibo 61.8% (63575) and offer better buying opportunities.
Res: 64959; 65424; 65975; 66495.
Sup: 64000; 63575; 63302; 62673.
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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