Bitcoin Technical analysis

Source: Dukascopy Bank SA
The daily chart for Bitcoin shows a strong and sustained uptrend that is currently undergoing a natural corrective pullback. After a powerful move from lows around 80,000 to a peak above 120,000, the price has entered this correction, a development that was anticipated as the Relative Strength Index had reached overbought territory.



Currently, the price is testing the 30-day moving average, which has acted as key support during the rally. Despite this pullback, the RSI remains comfortably above its 50 midline, indicating overall bullish momentum persists. The primary support levels to watch are defined by the Fibonacci retracement tool, with the first level at the 23.6% retracement of 111,324. A more significant support zone exists where the 38.2% retracement level around 105,338 converges with the rising 100-day moving average.
Back to articles

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.