Slobodan Drvenica
Windsor Brokers
BTC/USD
BTCUSD is ranging around Fibo level at 67495 (76.4% of 71929/53142) on Monday, suggesting that strong bullish acceleration in past three days, which hit five-week high, might be losing traction.
Stretched daily indicators, with bearish divergence on overbought stochastic, warning that bulls may pause for consolidation / shallow correction, before larger uptrend resumes.
Bitcoin remains supported by US political situation, as well as growing signals of Fed rate cut (September is the earliest expected), adding to idea of limited dips as positioning for fresh acceleration and attack at psychological 70K barrier, as initial target.
Rising 5DMA offer immediate support at 66673, followed by Friday’s spike low at 65795 and top of daily Ichimoku cloud (65107) which should contain dips and keep larger bulls intact.
Res: 67495; 68495; 69000; 70000.
Sup: 66673; 65795; 65107; 64752.
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.
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