BTCUSD Pair Is Displaying a Strong Upward Trajectory

The BTCUSD pair is displaying a strong upward trajectory, supported by favorable indicator alignment and sustained momentum in market sentiment. Technically, the market recently rebounded from the $108,640 zone, which coincides with the 1.0 Fibonacci extension level. The breakout above the $117,470 midpoint Fibonacci retracement signaled a shift from consolidation to renewed upside momentum. Following this move, BTCUSD briefly touched resistance near $124,530 before retracing slightly toward the moving average. The retracement remains shallow and healthy, suggesting a continuation phase rather than exhaustion. The recent price behavior also indicates that bulls are maintaining control as higher lows continue to build structural strength along the ascending trendline that originated from mid-September.

Forecasting forward, BTCUSD appears well-positioned to extend its rally toward $126,300 and potentially $130,000 if bullish volume remains consistent. The key support levels are now seen near $118,000 and $112,400, where potential buying interest is expected to reemerge should a temporary correction occur. Sustained trading above the 9-day moving average would reinforce momentum for a retest of the $130,000 psychological resistance in the near term. If price closes decisively above this barrier, it could open a pathway toward the $136,000 mark, establishing a new medium-term high while solidifying the broader bullish market structure heading into the next cycle.

BTC Key Levels

Supply Levels: $124,530, $130,000, $136,000
Demand Levels: $118,000, $108,390, $95,980

What are the indicators saying?

https://www.tradingview.com/x/ykiCBZb9

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

https://www.tradingview.com/x/ykiCBZb9

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 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

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.

• 

  gurely

• 

  Mark Austin

• 

  Anthony Wintle

• 

  Ramla Soni