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

BTC/USD outlook: Slight bullish bias above daily cloud, but stronger direction signals still needed

BTC/USD outlook: Slight bullish bias above daily cloud, but stronger direction signals still needed
Slobodan DrvenicaSlobodan DrvenicaWindsor Brokers

BTC/USD

Bitcoin is consolidating in early Tuesday, after advancing 2.8% on Monday and remains constructive as the latest jump has generated positive signal on a marginal close above important barriers at $66144 (50% retracement of $72750/$59538) and $66330 (top of ascending daily Ichimoku cloud).

Geopolitics and broader financial market sentiment remain bitcoin’s main driver, with conflicting studies on daily chart (14-d momentum remains in negative territory / MA’s are in mixed setup, but daily cloud underpins, and near-term bias is expected to remain with bulls while the price stays above the cloud.

However, stronger signals can be expected on sustained break above Fibo 61.8% barrier at $67700 (bullish) or fall below 10DMA at $64039 (bearish).

Res: 67700; 68000; 68325; 69632.
Sup: 66144; 64585; 64039; 62656.

BTCUSD

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 recovery lacks momentum as bulls defend $1.00 support

Ripple recovery lacks momentum as bulls defend $1.00 support

Ripple maintains a bearish outlook while trading above its immediate $1.00 support on Thursday. The remittance token has sustained a steady decline from the July high of $1.18, underpinning reduced demand and the lack of catalysts to sustain recovery.

Crypto Today: Bitcoin, Ethereum, XRP remain sluggish amid mixed ETF flows

Crypto Today: Bitcoin, Ethereum, XRP remain sluggish amid mixed ETF flows

The cryptocurrency market continues to trade sideways on Thursday, with Bitcoin struggling to reclaim the $64,000 level. Ethereum is attempting to build momentum near the key $1,900 resistance, while Ripple maintains support above $1.00, yet upward movement remains limited.

Bitcoin Price Forecast: BTC rebounds slightly as consolidation range keeps direction unclear

Bitcoin Price Forecast: BTC rebounds slightly as consolidation range keeps direction unclear

Bitcoin rebounds mildly, trading above $63,800 at the time of writing on Thursday after four consecutive days of losses. BTC has been trading sideways since mid-July, while cautious institutional flows and neutral momentum indicators suggest traders remain hesitant, pointing to a lack of clear directional bias.


Hyperliquid eyes 50-day EMA breakout as bullish momentum builds

Hyperliquid eyes 50-day EMA breakout as bullish momentum builds

Hyperliquid is trading in the green on Thursday, extending gains toward the 50-day Exponential Moving Average (EMA) at $58.36. Institutional demand remains firm as Hyperliquid treasury Hyperion DeFi saw a $31 million fair value increase in the last quarter.

Bitcoin: Can bulls weather the market uncertainty?

Bitcoin: Can bulls weather the market uncertainty?

Bitcoin (BTC) remains resilient, trading above $65,000 on Friday, with bulls defending key support despite cautious market sentiment. US-listed spot Bitcoin Exchange-Traded Funds (ETFs) showed strong inflows through Thursday, pointing to renewed institutional demand.