BTC/USD Rebound Keeps RSI Out of Oversold Zone
BTC/USD retraces the sharp decline from earlier this week to keep the Relative Strength Index (RSI) out of oversold territory.
BTC/USD Outlook
BTC/USD fails to extend the recent series of lower highs and lows as it struggles to close below $53510 (61.8% Fibonacci extension), with a breach above $57590 (78.6% Fibonacci extension) raising the scope for a move towards the $62780 (100% Fibonacci extension) to $64850 (23.6% Fibonacci extension) zone.
A breach above the monthly high ($65580) brings the July high ($70004) on the radar but a close below $53510 (61.8% Fibonacci extension) may undermine the recent rebound in BTC/USD, with a move below $47780 (38.2% Fibonacci extension) opening up the February low ($41856).
--- Written by David Song, Strategist at FOREX.com
BTC/USD Outlook
BTC/USD fails to extend the recent series of lower highs and lows as it struggles to close below $53510 (61.8% Fibonacci extension), with a breach above $57590 (78.6% Fibonacci extension) raising the scope for a move towards the $62780 (100% Fibonacci extension) to $64850 (23.6% Fibonacci extension) zone.
A breach above the monthly high ($65580) brings the July high ($70004) on the radar but a close below $53510 (61.8% Fibonacci extension) may undermine the recent rebound in BTC/USD, with a move below $47780 (38.2% Fibonacci extension) opening up the February low ($41856).
--- Written by David Song, Strategist at FOREX.com
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.