Slobodan Drvenica
Windsor Brokers
BTC/USD
Bitcoin continues to trend higher and extends rally into fifth straight day, with strong bullish acceleration seen in past three days, when coin’s price rose nearly 15%.
Large long positions from big players were the main driver of Bitcoin in past few sessions, as demand rose significantly after trading of new US spot bitcoin ETF has been recently approved.
Bulls continue to firmly hold grip and nearing psychological 60000 barrier, keeping the Bitcoin on track for a massive monthly gains (around 40%), the biggest since October 2021.
Tuesday’s close above Fibo barrier at 56291 (76.4% retracement of 68911/15437 downtrend) generated fresh bullish signal, which will be boosted on sustained break of 60000 pivot and expose coin’s all-time highs at 68421 and 68911 (posted in April and November 2021 respectively).
Bulls show no signs of fatigue so far as demand remains strong, though some profit-taking in the near future should be a logical reaction to a strong rally in past few days.
Res: 51600; 52500; 53085; 54330.
Sup: 50500; 50000; 48310; 47500.
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.
Recommended Content
Editors’ Picks
Bitcoin volatility hits multi-month lows, raising concerns of liquidation cascades
Bitcoin price has been consolidating between $94,000 and $100,000 for two weeks. Defund exchange FTX repayments on Tuesday dipped Bitcoin towards its lower boundary of the consolidating range.
Litecoin bulls target $170 mark as open interest reaches four-year high of $887 million
Litecoin price extends its gains and recovers above the $135.00 level on Wednesday, rallying over 7% so far this week. LTC’s open interest hints at a continuation of the rally as it reaches the highest level since May 12, 2021, of $887 million.
Maker Price Forecast: MKR generates highest daily revenue of $10 million
Maker price extends its gains by 6%, trading around $1,189 on Wednesday after rallying more than 20% so far this week. On-chain data support a bullish move ahead as MKR generated a new yearly high in daily revenue, and funding rate data is positive.
Ripple's XRP holds symmetrical triangle support as SEC acknowledges Bitwise XRP ETF filings
Ripple's XRP is down 3% on Tuesday despite the Securities and Exchange Commission (SEC) acknowledgment of Bitwise XRP ETF. Unchained Crypto noted that XRP ETF could underperform due to key fundamental issues.
Bitcoin: BTC consolidates before a big move
Bitcoin price has been consolidating between $94,000 and $100,000 for the last ten days. US Bitcoin spot ETF data recorded a total net outflow of $650.80 million until Thursday.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.