Slobodan Drvenica
Windsor Brokers
BTC/USD
BTCUSD is trading near one-month low in early Friday, holding in red for the fourth consecutive day and on track for the second weekly loss.
Initial signals of formation of reversal pattern on larger timeframe (weekly) on a series of lower tops and lower lows from record high (73839) is evident, though still looking for confirmation.
Fresh bears pressure pivotal double-Fibo supports at 54969/54850 (61.8% of 48738/65050 and 38.2% of 24129/73839 upleg) break of which risk deeper drop and test of July low (53142), guarding psychological 50K level and Aug 5 spike low at 48738.
Strengthening negative momentum and multiple MA bear-crosses on daily chart, reinforce bearish outlook.
Corrective upticks should be capped by falling 10DMA (58220), guarding upper pivot at 60000 (psychological, reinforced by 20DMA), violation of which would sideline bears.
Res: 56894; 57800; 58220; 59814.
Sup: 54969; 54850; 53904; 52587.
-638612116994382336.png)
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
Recommended Content
Editors’ Picks
Bitcoin Weekly Forecast: BTC nosedives below $95,000 as spot ETFs record highest daily outflow since launch
Bitcoin price continues to edge down, trading below $95,000 on Friday after declining more than 9% this week. Bitcoin US spot ETFs recorded the highest single-day outflow on Thursday since their launch in January.
Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers
Bitcoin (BTC) slipped under the $100,000 milestone and touched the $96,000 level briefly on Friday, a sharp decline that has also hit hard prices of other altcoins and particularly meme coins.
Solana Price Forecast: SOL’s technical outlook and on-chain metrics hint at a double-digit correction
Solana (SOL) price trades in red below $194 on Friday after declining more than 13% this week. The recent downturn has led to $38 million in total liquidations, with over $33 million coming from long positions.
SEC approves Hashdex and Franklin Templeton's combined Bitcoin and Ethereum crypto index ETFs
The SEC approved Hashdex's proposal for a crypto index ETF. The ETF currently features Bitcoin and Ethereum, with possible additions in the future. The agency also approved Franklin Templeton's amendment to its Cboe BZX for a crypto index ETF.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin (BTC) price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot Exchange Traded Funds (ETFs) in January and the reduced supply following the fourth halving event in April.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.