Slobodan Drvenica
Windsor Brokers
Bitcoin fell to the lowest since Feb 27 on Wednesday, as fresh acceleration lower extends into third straight day, boosted by fading bets for the start of Fed rate cuts in the near future.
Monday’s break and close below daily cloud base (60770), Fibo 38.2% of 38501/73839 (60340) psychological 60000 support generated strong bearish signal, which will be boosted by close below rising 100DMA (59106).
Bears pressure next pivotal support at 56170 (50% retracement of 38501/73839), loss of which would open way for deeper drop.
Weekly close below the floor of recent consolidation range at 60000 zone would add to reversal signal and put larger bulls on hold for stronger correction.
Only return and weekly close above 60000zone would sideline immediate downside threats and signal false break lower.
Res: 59106; 60000; 60340; 61074
Sup: 56170; 54179; 53017; 52000
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
Litecoin Price Prediction: LTC tries to retake $100 resistance as miners halt sell-off
Litecoin price grazed 105 mark on Monday, rebounding 22% from the one-month low of $87 recorded during last week’s market crash. On-chain data shows sell pressure among LTC miners has subsided. Is the bottom in?
Bitcoin fails to recover as Metaplanet buys the dip
Bitcoin price struggles around $95,000 after erasing gains from Friday’s relief rally over the weekend. Bitcoin’s weekly price chart posts the first major decline since President-elect Donald Trump’s win in November.
SEC Commissioner Hester Pierce sheds light on Ethereum ETF staking under new administration
In a Friday interview with Coinage, SEC Commissioner Hester Peirce discussed her optimism about upcoming regulatory changes as the agency transitions to new leadership under President Trump’s pick for new Chair, Paul Atkins.
Bitcoin dives 3% from its recent all-time high, is this the cycle top?
Bitcoin investors panicked after the Fed's hawkish rate cut decision, hitting the market with high selling pressure. Bitcoin's four-year market cycle pattern indicates that the recent correction could be temporary.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin 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 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.