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

BTC/USD outlook: Fresh bulls broke through 200-DMA which capped the action for two weeks

BTC/USD outlook: Fresh bulls broke through 200-DMA which capped the action for two weeks
Slobodan DrvenicaSlobodan DrvenicaWindsor 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.

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

XRP stuck in tight range as whale demand, on-chain activity strengthen

XRP stuck in tight range as whale demand, on-chain activity strengthen

Ripple (XRP) declines for a second day in a row, trading around $1.07 at the time of writing on Tuesday. The remittance token has continued to sustain a bearish outlook, aligning with the broader cryptocurrency market.
Bitcoin rises toward $64,000 as Coldcard exploit, strategy sales recede – ADA advances

Bitcoin rises toward $64,000 as Coldcard exploit, strategy sales recede – ADA advances

Bitcoin rose 1.6% over the last 24 hours, climbing as high as $64,160 to the highest since July 31 before retreating. The rebound followed a selloff spurred by an exploit that targeted a cold wallet over the weekend and bitcoin sales by the world’s largest corporate holder.
Crypto Today: Bitcoin, Ethereum, XRP shows recovery signs as Ethereum and XRP struggle

Crypto Today: Bitcoin, Ethereum, XRP shows recovery signs as Ethereum and XRP struggle

Bitcoin (BTC) advances above $63,000 on Tuesday, buoyed by increasing investor risk appetite. Ethereum (ETH) continues to trade under pressure below the supply range at $1,900 and above the short-term $1,800 support. At the same time, Ripple’s (XRP) upside is constrained under the pivotal $1.10 level while support at $1.00 remains intact.
US Yen intervention puts Bitcoin, risk assets on notice for liquidity flux

US Yen intervention puts Bitcoin, risk assets on notice for liquidity flux

Washington’s growing coordination with the Bank of Japan (BoJ) points to a potential boost in global dollar liquidity — even as it runs up against a yen carry trade unwind that could squeeze liquidity if it deepens further. Last week, the US and Japan conducted a rare joint intervention to prop up the yen, which had slid to 40-year lows of 164 per dollar — the first of its kind since 1998.
Bitcoin: Bulls hold the line

Bitcoin: Bulls hold the line

Bitcoin (BTC) edges slightly lower, trading at $64,300 at the time of writing on Friday but holding firmly above a key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) support BTC as they continued to attract institutional flows through Thursday, pointing to the fourth consecutive week of net inflows.