Bitcoin (BTCUSD) Displays Bullish Momentum Above Key Support Levels

BTCUSD displays bullish momentum above key support levels. The chart shows significant bullish price action, with a Break of Structure (BOS) above $108,400 confirming the uptrend. Support at $100,000 has held firm, as evidenced by the bounce marked by bullish candlesticks near this level. The price also respected an order block (OB) between $90,000 and $99,5100, which acted as a demand zone. The sustained higher highs and higher lows validate the bullish structure.

BTCUSD is projected to rally towards $115,000 as the next major resistance level, supported by strong buying interest at $100,000. If this resistance is breached, a potential test of $125,000 may follow. However, failure to hold above $100,000 could prompt a retest of $99,500 or the $90,000 order block for renewed buying opportunities. Overall, the outlook remains bullish as long as the price stays above key support levels.

BTC Key Levels

Demand Levels: $100,000, $85,000, $66,800
Supply Levels: $109,400, $125,000, $115,000

What Are the Indicators Saying?

The Moving Average Convergence Divergence (MACD) indicator signals bullish momentum, as the MACD line crosses above the signal line while both remain in positive territory. The price is trading above the 9-day Simple Moving Average (SMA) at $103,330, indicating an upward trend. The SMA is also acting as dynamic support, suggesting buyers are actively supporting higher prices. This confluence of bullish indicators underpins the ongoing uptrend in BTCUSD.

Learn from market wizards: Books to take your trading to the next level.

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

Follow @ItuGlobal

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Comments are closed

WHAT IS ADVFN?

ADVFN covers all things stock market.

From the news and opinion pieces on pages like this to share discussion forums, charting tools, financials, live share prices and Level 2, order book data

If you trade or invest ADVFN has the tools you need to make the right decisions.

• 

  101 Ways to Pick Stock Market Winners

  You need the number one bestselling investment guide, the definitive text for day traders, investors and stock pickers.

• 

  The Death of Wealth

  Dissecting the global economy and the financial markets, the book lays out the evidence for the next economic game changer: the Death of Wealth.

• 

  Lawrence Gash

• 

  Luis Aureliano

• 

  Angelina Jennifer

• 

  Capital.com