BTCUSD next moves Outlook Bitcoin Bulls Back Down
A pullback off confluence uptrend support threatens a larger pullback here but keeps the broader trade constructive while within this formation.
Technical Outlook:
Bitcoin prices surged more than 110% off the January lows before faltering with the rally turning at confluent trendline resistance (high registered at 58354). The subsequent breakdown fell more than 23% off the highs with daily momentum closing below overbought territory for the first time since February 8th.
Initial support rests with the lower parallel / 2/10 reversal close near 44854 with broader bullish invalidation now raise raised to the 61.8% Fibonacci retracement of the year-to-date 2021 range / January high-day close at 39430-40667. Ultimately a breach / close above the record high-day close at 57492 is needed to mark resumption with such a scenario eyeing the upper parallels
Technical Outlook:
Bitcoin prices surged more than 110% off the January lows before faltering with the rally turning at confluent trendline resistance (high registered at 58354). The subsequent breakdown fell more than 23% off the highs with daily momentum closing below overbought territory for the first time since February 8th.
Initial support rests with the lower parallel / 2/10 reversal close near 44854 with broader bullish invalidation now raise raised to the 61.8% Fibonacci retracement of the year-to-date 2021 range / January high-day close at 39430-40667. Ultimately a breach / close above the record high-day close at 57492 is needed to mark resumption with such a scenario eyeing the upper parallels
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.