BTC/USD: levels for trading

BTC/USD: levels for trading

Trade ideas

SELL 11,250; TP 10,930; SL 11,350

BUY 11,650; TP1 11,900; TP2 12,200; SL 11,590 

Last week BTC/USD failed to close at the weekly high in the 12,295 area and ended up near 11,416. On H4, the Bitcoin is capped by the 50-period MA at 11,575. As long as the price remains under that resistance, it may test the 50-day MA at 10,930. This line guards the way to 9,870 (support line, Fibonacci level). The return above 11,600 will open the way up to 11,900 and 12,295. Ultimately we expect BTC to retest 13,100.  



USD Regains Strenght

Looking ahead, highlights from macroeconomic calendar include EZ Sentiment Index and Fed’s Evans speech who is a Fed non-voter. Rise in US-China tensions (WeChat specifically) sends US dollar higher.

Latest news

Exuberance and Optimism Keep Going

Russian health ministry has approved coronavirus vaccine developed by Moscow's Gamaleya Institute. He hopes Russia will start mass production of coronavirus vaccine very soon.

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