ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for tools Level up your trading with our powerful tools and real-time insights all in one place.

Bitcoin (BTCUSD) Signals Bullish Momentum with Rising Confidence

Share On Facebook
share on Linkedin
Print

BTCUSD signals bullish momentum with rising confidence. From a price action standpoint, BTCUSD recently formed a five-wave bearish structure that ended at around $74,420 before experiencing a bullish market shift. A clear Change of Character (CHoCH) occurred after the fifth wave low, where price decisively broke previous highs around $88,800. This confirmed a transition from bearish to bullish sentiment. Since then, the price has rallied strongly, breaking through previous resistance at $95,980 and reaching the current level around $104,020.

©

The market structure now forms higher highs and higher lows, which is characteristic of an uptrend. Support is firmly held above $95,980 and $88,800. Looking ahead, BTCUSD is well-positioned to test the next major resistance at approximately $108,390. A clean breakout above this level could open up a swift move toward $115,000 and potentially $125,000 in the coming weeks. Given the current momentum and structure, pullbacks to $95,980 or even $88,800 may offer buying opportunities. As long as price remains above the recent low of $85,010, the bullish structure remains intact.

Bitcoin (BTCUSD) Signals Bullish Momentum with Rising ConfidenceBTC Key Levels

Supply Levels: $108,390, 115,000, $125,000
Demand Levels: $95,980, $85,010, $74,420

What are the indicators saying?

The BTCUSD daily chart displays a clear bullish structure supported by indicators. The 9-day Simple Moving Average (SMA) is currently trending upward and acting as dynamic support, with the price holding above it at approximately $103,720.

The Moving Average Convergence Divergence (MACD) indicator shows the MACD line above the signal line, signaling bullish momentum, while the histogram continues to print positive bars, confirming upward strength. The momentum has been steady since early April, supporting a continuation of the uptrend. The indicators align with the price structure, reinforcing bullish confidence.

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).

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 Ltd. ADVFN Ltd 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

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com