BTC/USD on Cusp of Testing April High
BTC/USD is on track to test the April high ($72727) as it carves a series of higher highs and lows.
BTC/USD Outlook
BTC/USD trades to a fresh monthly high ($70903) as it extends the advance from the start of the week, with the recent rally in Bitcoin pushing the Relative Strength Index (RSI) towards overbought territory.
A move above the April high ($72727) may push BTC/USD towards the March high ($74791), with a break/close above $74170 (50% Fibonacci extension) opening up the $77790 (161.8% Fibonacci extension) to $78330 (61.8% Fibonacci extension) region.
However, lack of momentum to test the April high ($72727) may curb the bullish price action in BTC/USD, with a move below the $62780 (100% Fibonacci extension) to $64850 (23.6% Fibonacci extension) area bringing $57590 (78.6% Fibonacci extension) on the radar.
--- Written by David Song, Strategist at FOREX.com
BTC/USD Outlook
BTC/USD trades to a fresh monthly high ($70903) as it extends the advance from the start of the week, with the recent rally in Bitcoin pushing the Relative Strength Index (RSI) towards overbought territory.
A move above the April high ($72727) may push BTC/USD towards the March high ($74791), with a break/close above $74170 (50% Fibonacci extension) opening up the $77790 (161.8% Fibonacci extension) to $78330 (61.8% Fibonacci extension) region.
However, lack of momentum to test the April high ($72727) may curb the bullish price action in BTC/USD, with a move below the $62780 (100% Fibonacci extension) to $64850 (23.6% Fibonacci extension) area bringing $57590 (78.6% Fibonacci extension) on the radar.
--- 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.