Bitcoin Rebound Emerges Following Test of 50-Day SMA
BTC/USD appears to be breaking out of the range-bound price action carried over from last week following the failed attempts to close below the 50-Day SMA ($28923).
BTC/USD Outlook
BTC/USD seems to be defending the monthly low ($28598) as it trades back above the $29140 (38.2% Fibonacci extension) region, and Bitcoin may track the positive slope in the moving average if it pushes above the opening range for August.
A break above the August high ($30024) may push Bitcoin towards $30490 (50% Fibonacci extension), with the next area of interest coming in around $31840 (61.8% Fibonacci extension), which largely lines up with the July high ($31826).
However, failure to defend the monthly low ($28598) may push BTC/USD towards trendline support, with a break/close below the $27470 (23.6% Fibonacci extension) to $28220 (23.6% Fibonacci retracement) region opening up the $25990 (38.2% Fibonacci retracement) area.
BTC/USD Outlook
BTC/USD seems to be defending the monthly low ($28598) as it trades back above the $29140 (38.2% Fibonacci extension) region, and Bitcoin may track the positive slope in the moving average if it pushes above the opening range for August.
A break above the August high ($30024) may push Bitcoin towards $30490 (50% Fibonacci extension), with the next area of interest coming in around $31840 (61.8% Fibonacci extension), which largely lines up with the July high ($31826).
However, failure to defend the monthly low ($28598) may push BTC/USD towards trendline support, with a break/close below the $27470 (23.6% Fibonacci extension) to $28220 (23.6% Fibonacci retracement) region opening up the $25990 (38.2% Fibonacci retracement) area.
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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.
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.