BTC/USD is on track to test the April high ($72727) as it carves a series of higher highs and lows.
BTC/USD Outlook
BTC/USD trades to a fresh monthly high ($70903) as it extends the advance from the start of the week, with the recent rally in Bitcoin pushing the Relative Strength Index (RSI) towards overbought territory.
A move above the April high ($72727) may push BTC/USD towards the March high ($74791), with a break/close above $74170 (50% Fibonacci extension) opening up the $77790 (161.8% Fibonacci extension) to $78330 (61.8% Fibonacci extension) region.
However, lack of momentum to test the April high ($72727) may curb the bullish price action in BTC/USD, with a move below the $62780 (100% Fibonacci extension) to $64850 (23.6% Fibonacci extension) area bringing $57590 (78.6% Fibonacci extension) on the radar.
--- Written by David Song, Strategist at FOREX.com
BTC/USD Outlook
BTC/USD trades to a fresh monthly high ($70903) as it extends the advance from the start of the week, with the recent rally in Bitcoin pushing the Relative Strength Index (RSI) towards overbought territory.
A move above the April high ($72727) may push BTC/USD towards the March high ($74791), with a break/close above $74170 (50% Fibonacci extension) opening up the $77790 (161.8% Fibonacci extension) to $78330 (61.8% Fibonacci extension) region.
However, lack of momentum to test the April high ($72727) may curb the bullish price action in BTC/USD, with a move below the $62780 (100% Fibonacci extension) to $64850 (23.6% Fibonacci extension) area bringing $57590 (78.6% Fibonacci extension) on the radar.
--- 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.