Macro:
- The crypto market rebounded as sentiment improved following the US Treasury Secretary's proposal to ease stablecoin regulations, boosting trading volumes and risk appetite.
- On-chain data reflects growing activity. The average bitcoin trade size rose 15% MoM, overall volume jumped, and 78% of supply is now in profit.
- Liquidity support from the increasing M2 money supply in China and the US has further enhanced bitcoin's appeal.
Technical:
- BTCUSD surged to resistance near 94300, aligning with the 100% Fibo Extension, before forming a Doji candle that signals possible correction. The price remains above both EMAs, indicating a bullish shift.
- If the price breaks below 92000, it may leads to a pullback toward the 87000–90000 support zone, near the 23.6%-38.2% Fibo Retracement levels.
- A breakout above 94300 may open the door for a move toward the next resistance around 101400.
Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness
- The crypto market rebounded as sentiment improved following the US Treasury Secretary's proposal to ease stablecoin regulations, boosting trading volumes and risk appetite.
- On-chain data reflects growing activity. The average bitcoin trade size rose 15% MoM, overall volume jumped, and 78% of supply is now in profit.
- Liquidity support from the increasing M2 money supply in China and the US has further enhanced bitcoin's appeal.
Technical:
- BTCUSD surged to resistance near 94300, aligning with the 100% Fibo Extension, before forming a Doji candle that signals possible correction. The price remains above both EMAs, indicating a bullish shift.
- If the price breaks below 92000, it may leads to a pullback toward the 87000–90000 support zone, near the 23.6%-38.2% Fibo Retracement levels.
- A breakout above 94300 may open the door for a move toward the next resistance around 101400.
Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness
I’ve taken a break from my public community engagements to focus on raising my three kids, but I'm rediscovering my passion for working again. Stay connected, as I plan to return and rejoin my old communities with a lot of new skills one day soon.
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I’ve taken a break from my public community engagements to focus on raising my three kids, but I'm rediscovering my passion for working again. Stay connected, as I plan to return and rejoin my old communities with a lot of new skills one day soon.
Penerbitan berkaitan
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.