Slobodan Drvenica
Windsor Brokers
Bitcoin
Bitcoin was down 3% in early Tuesday’s sharp selloff which signals continuation of a bear-leg from 71929 (June 7 peak).
Fresh bears emerged after a mild recovery was repeatedly capped by psychological 70K barrier, with drop marking so far the biggest daily loss since May1.
The price hit the lowest in two weeks, with breach of initial Fibo support at 68270 (23.6% of 56427/71929) and completion of failure swing pattern on daily chart, generating bearish signal.
Momentum indicator (14-d) broke into negative territory and the price slid below 10/20DMA’s, weakening near-term structure, with Friday’s twist of daily cloud, also expected to attract.
Bears eye 100DMA (66529) which guards pivotal 66K support zone (higher base / Fibo 38.2%), loss of which would generate reversal signal and spark further weakness.
Near-term action should stay capped by broken Fibo level at 68270 and broken daily Kijun-sen at 68512, to keep near-term bias with bears.
Res: 68062; 68270; 68512; 69642.
Sup: 66533; 66529; 66000; 65701.
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
Is Altcoin Season here as Bitcoin reaches a new all-time high?
Bitcoin reaches a new all-time high of $98,384 on Thursday, with altcoins following the suit. Reports highlight that the recent surge in altcoins was fueled by the victory of crypto-friendly candidate Donal Trump in the US presidential election.
Shanghai court confirms legal recognition of crypto ownership
A Shanghai court has confirmed that owning digital assets, including Bitcoin, is legal under Chinese law. Judge Sun Jie of the Shanghai Songjiang People’s Court shared this opinion through the WeChat account of the Shanghai High People’s Court.
BTC hits an all-time high above $97,850, inches away from the $100K mark
Bitcoin hit a new all-time high of $97,852 on Thursday, and the technical outlook suggests a possible continuation of the rally to $100,000. BTC futures have surged past the $100,000 price mark on Deribit, and Lookonchain data shows whales are accumulating.
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange
Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.
Bitcoin: New high of $100K or correction to $78K?
Bitcoin surged to a new all-time high of $93,265 in the first half of the week, followed by a slight decline in the latter half. Reports highlight that Bitcoin’s current level is still not overvalued and could target levels above $100,000 in the coming weeks.
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.