BTC/USD stages a three-day rebound after failing to defend the March low ($59675) last week, and Bitcoin may no longer track the positive slope in the 50-Day SMA ($65914) if it struggles to trade back above the moving average.
BTC/USD Outlook
BTC/USD registers a fresh monthly high ($65949) as it carves a series of higher highs and lows, with a breach above the April high ($72727) bringing the March high ($73791) on the radar.
Next area of interest comes in around $77786 (161.8% Fibonacci extension), but lack of momentum to trade back above the moving average may curb the bullish price series, with a close below the $62220 (23.6% Fibonacci retracement) to $62780 (100% Fibonacci extension) area raising the scope for a move back towards $57590 (78.6% Fibonacci extension).
Failure to defend the monthly low ($56525) may push BTC/USD towards the $53510 (61.8% Fibonacci extension) to $55130 (38.2% Fibonacci retracement) region, with the next area of interest coming in around $49360 (50% Fibonacci retracement) to $50650 (50% Fibonacci extension).
--- Written by David Song, Strategist at FOREX.com
BTC/USD Outlook
BTC/USD registers a fresh monthly high ($65949) as it carves a series of higher highs and lows, with a breach above the April high ($72727) bringing the March high ($73791) on the radar.
Next area of interest comes in around $77786 (161.8% Fibonacci extension), but lack of momentum to trade back above the moving average may curb the bullish price series, with a close below the $62220 (23.6% Fibonacci retracement) to $62780 (100% Fibonacci extension) area raising the scope for a move back towards $57590 (78.6% Fibonacci extension).
Failure to defend the monthly low ($56525) may push BTC/USD towards the $53510 (61.8% Fibonacci extension) to $55130 (38.2% Fibonacci retracement) region, with the next area of interest coming in around $49360 (50% Fibonacci retracement) to $50650 (50% Fibonacci extension).
--- Written by David Song, Strategist at FOREX.com
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.