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

BTC/USD surges through key barriers and hits the highest levels since January

BTC/USD surges through key barriers and hits the highest levels since January
Slobodan DrvenicaSlobodan DrvenicaWindsor Brokers

BTC/USD

BTC/USD accelerated higher on Monday (up over 4% in Asia / early Europe), extending Friday’s sharp rally (up 6%).

Bulls took a breather for a brief consolidation during the weekend, with initial bullish signal seen on Friday’s close above psychological 80K barrier, being boosted by break of next pivotal barriers at 82331 (Fibo 61.8% of 97572/57673 descend) and 82821 (former top of May 6).

Also, lift above 55WMA (81550) and former top (82821) signals the bottom of larger cycle and generates stronger reversal signal of entire 126299/57673 downtrend, with close above the latter to confirm the signal and shift focus to the upside.

Next key barriers lay at 89467 (100WMA) and 90K (psychological), with the action being underpinned by multiple DMA bull-crosses and strengthening positive momentum.

However, overbought daily studies warn that bulls may face headwinds, with potential dips to be ideally contained by former top (82821) reverted to solid support.

Res: 85500; 86320; 89467; 90000.
Sup: 83888; 82821; 81550; 80000.

Bitcoin

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

Cardano Price Forecast: ADA extends gains after Mastercard deal, Leios testing

Cardano Price Forecast: ADA extends gains after Mastercard deal, Leios testing

Cardano price extends a steady near-term recovery on Monday, inching closer to the long-term 200-day EMA near $0.2464. The recent partnership with Mastercard and the Leios upgrade testing lift ADA investors' spirits. The technical outlook for ADA shows an upside bias as bullish momentum recovers.

Crypto Overview: Bitcoin reclaims $80,000 – Venice Token and NEAR Protocol rally

Crypto Overview: Bitcoin reclaims $80,000 – Venice Token and NEAR Protocol rally

Bitcoin is trading above $81,000 holding firm after a 6% surge on Friday, linked to US financial watchdogs' efforts to structure crypto assets under existing rules following the CLARITY Act's failure to advance. Venice and NEAR Protocol have posted double-digit gains over the last 24 hours, scaling to fresh annual highs.

Top 3 Price Prediction: BTC extends gains, ETH and XRP advance in uptrend

Top 3 Price Prediction: BTC extends gains, ETH and XRP advance in uptrend

Bitcoin, Ethereum, and Ripple extend their gains after posting strong gains of over 5%, 6% and 5%, respectively, last week. BTC trades above $81,300, ETH climbs above $2,600, and XRP holds above the key $1.300 support level. All three momentum indicators suggest early bullish momentum and hint at further gains ahead.

Bitcoin pushes above $81K, faces liquidation test between $83K and $86K

Bitcoin pushes above $81K, faces liquidation test between $83K and $86K

Bitcoin (BTC) rose above $81,000 on Friday after climbing back above the True Market Mean, signaling that the market could potentially have moved back into a bullish regime. The True Market Mean, at $76,660, represents the average price paid by active trading participants. BTC’s move back above the level often signals a return to bullish territory and can trigger positive short-term sentiment.
Bitcoin: BTC shrugs off CLARITY Act setback and hawkish Fed

Bitcoin: BTC shrugs off CLARITY Act setback and hawkish Fed

Bitcoin (BTC) price action has remained resilient this week, trading above $78,000 at the time of writing on Friday, heading toward a key resistance zone. Institutional demand shows early signs of weakness, with spot Exchange Traded Funds (ETFs) on track for a second straight week of outflows, with over $420 million recorded through Thursday amid escalating Middle East tensions.