BTC/USD Recovers Ahead of Trendline Support
BTC/USD rebounds ahead of trendline support to take out the December high ($44739).
BTC/USD Outlook
BTC/USD may attempt to test the April 2022 high ($47447) as the upward trend from November remains intact, and a move above 70 in the Relative Strength Index (RSI) is likely to be accompanied by a further advance in Bitcoin like the price action from last year.
Next area of interest comes in around the March 2022 high ($48224) followed by the $48550 (61.8% Fibonacci retracement) region, but failure to clear the April 2022 high ($47447) may keep the RSI out of overbought territory.
Failure to hold above $44130 (38.2% Fibonacci retracement) may push BTC/USD back towards trendline support, with a break/close below $42240 (50% Fibonacci retracement) raising the scope for a test of the 50-Day SMA ($38804).
BTC/USD Outlook
BTC/USD may attempt to test the April 2022 high ($47447) as the upward trend from November remains intact, and a move above 70 in the Relative Strength Index (RSI) is likely to be accompanied by a further advance in Bitcoin like the price action from last year.
Next area of interest comes in around the March 2022 high ($48224) followed by the $48550 (61.8% Fibonacci retracement) region, but failure to clear the April 2022 high ($47447) may keep the RSI out of overbought territory.
Failure to hold above $44130 (38.2% Fibonacci retracement) may push BTC/USD back towards trendline support, with a break/close below $42240 (50% Fibonacci retracement) raising the scope for a test of the 50-Day SMA ($38804).
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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.