BTC/USD
Bitcoin extends steep ascend, benefiting from strong inflows to new US listed ETF, with over one trillion investment in bitcoin registered on Wednesday.
The price hit the highest in over two years in early Thursday’s trading, after 4.3% advance previous day closed well above psychological 50000 barrier, for the first time since mid-December 2021.
Gains in first two weeks of February already surpassed 23%, on track to register the second strong weekly advance and also heading towards the biggest monthly gains since October 2021.
Bulls hit new high at 52563 and focus next target at 53085 (Fibo 138.2% projection of the upleg from 38501), with stronger bullish acceleration to expose barriers at 55576 (Fibo 161.8% projection) and 56291 (Fibo 76.4% retracement of 68911/15434 downtrend).
Caution on strongly overbought conditions on daily chart, which may slow bulls for consolidation.
Broken psychological 50000 level and former top at 49054 (Jan 11) turned to solid supports which should ideally contain dips and guard rising daily Tenkan-sen (47658).
Res: 53085; 54330; 55000; 55576.
Sup: 51640; 50400; 50000; 49054.
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 consolidates after a new all-time high of $99,500
Bitcoin remains strong above $97,700 after reaching a record high of $99,588. At the same time, Ethereum (ETH) edges closer to breaking its weekly resistance, signaling potential gains. Ripple holds steady at a critical support level, hinting at continued upward momentum.
Sandbox hits fresh yearly high as on-chain metrics reach record highs
The Sandbox continued its rally and hit a fresh yearly high of $0.8680 in the early Asian session on Monday after surging over 121% last week. However, at the time of writing, SAND retraces and stabilizes around $0.7600.
Why is Dogecoin price down today?
Dogecoin (DOGE $0.4243) is retreating after reaching its highest levels since May 2021, suggesting a growing profit-taking sentiment among traders following Donald Trump’s win.
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: Rally expected to continue as BTC nears $100K
Bitcoin (BTC) reached a new all-time high of $99,419, just inches away from the $100K milestone and has rallied over 9% so far this week. This bullish momentum was supported by the rising Bitcoin spot Exchange Traded Funds (ETF), which accounted for over $2.8 billion inflow until Thursday. BlackRock and Grayscale’s recent launch of the Bitcoin ETF options also fueled the rally this week.
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.