Jump to content

Bitcoin Prices Poised for More Gains as Risk Assets Gain After Weak US GDP


Recommended Posts

Cryptocurrency: Bitcoin, Ethereum Gain, Trading Volume Surges Over  100,000%; Check Latest Rates

Jul 29, 2022 | DailyFX
Thomas Westwater, Analyst

BITCOIN, BTC/USD, US GDP, CRUDE OIL, TECHNICAL OUTLOOK - TALKING POINTS

  • Traders went risk on overnight on a weak US GDP print that trimmed Fed bets
  • Australia eyes second-quarter producer price index data as AUD/USD stalls
  • BTC/USD’s technical posture improves after breaking above resistance

BTC/USD TECHNICAL OUTLOOK

BTC/USD continued its run higher after crossing above a key level of resistance in place since early June following a break above the 50-day Simple Moving Average and a descending trendline from March. The 100-day SMA and a level of prior support from May is the next target for the cryptocurrency. The RSI and MACD oscillators are both tracking higher above their respective midpoints.

BTC/USD DAILY CHART

btcusd

Chart created with TradingView

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      21,662
    • Total Posts
      91,985
    • Total Members
      41,952
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    hickhyde22
    Joined 29/03/23 12:46
  • Posts

    • #EURJPY: Detailed Structure AnalysisHere are my latest structure analysis for ⚠️EURJPY.Support 1: 138.80 - 139.25 areaSupport 2: 137.38 - 138.18 areaResistance 1: 143.19 - 143.6 areaResistance 2: 145.00 - 145.58 areaResistance 3: 146.40 - 146.7 areaConsider these structures for pullback/breakout trading.
    • #USDCAD: Important Breakout   USDCAD broke and closed below a solid horizontal demand cluster on a daily. The broken structure turned into resistance now.   Probabilities will be high to see a bearish move from that. Goals will be 1.356 / 1.346 For Additional confirmation use: the best mt4 indicators
    • Dollar Index (#DXY): Key Levels to Watch This WeekHere is my latest structure for Dollar Index.Resistance 1: 103.11 - 103.63 areaResistance 2: 104.74 - 105.1 areaResistance 3: 105.667 - 105.88 areaSupport 1: 100.82 - 100.88 areaConsider these structures for pullback/breakout trading.For Additional confirmation use: Swing Trading Indicators
×
×
  • Create New...