Slobodan Drvenica
Windsor Brokers
BTC/USD
BTCUSD accelerated higher on Monday (up 2.8% until early US trading) supported by dovish stance of most of major central banks and comments from Republican presidential candidate Donald Trump, who promised friendlier regulation to t5he crypto industry.
Fresh strength cracked psychological 70K barrier for the first time in 1 ½ month, but likely to face increased headwinds here, as studies are overbought, and bullish momentum is fading on daily chart.
Limited dips should be ideally contained above 68500 support zone to keep larger bulls intact and offer better levels to re-enter bullish market.
Firm break of 70K trigger to expose key barriers at 71930 (May 21/June 6 double top).
Caution on dip below 67495 (broken Fibo 76.4%) which would expose lower pivot at 66713 (daily Tenkan-sen).
Res: 70000; 70445; 71000; 71649.
Sup: 68500; 67788; 67495; 66713.
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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