Bitcoin (BTC/USD) piercing above bearish channel

Bitcoin (BTC/USD) piercing above bearish channel

The Bitcoin has put a brake on the fall that was sustained during the past weekend and is now recovering in an area of importance to sellers. This is because the BTC/USD pair broke a bearish channel and managed to consolidate above the 50-hour moving average. Now, the lights are on the road to the north.

The Parabolic SAR suggests that the price action remains intact in favor of the bulls, although it is an indication that it can last for a short time, because the sellers could appear in the current stage, thanks to the convergence that has with the moving average of 200 hours and in addition, the BTC is approaching the Fibonacci level of 50% in 8724.

What do we expect?

According to our forecasts in the short-term, cryptocurrency is finding support at the Fibonacci level of 78.6% in 7068, which suggests that the buying price action is concentrated around that area. Therefore, we can not rule out a rebound of Bitcoin towards the Fibonacci level of 38.2% in 9407, once it manages to fracture above the highs of March 16. The RSI remains in the overbought area.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


Deposit with your local payment systems


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera