BTC/USD Reverses Ahead of June Low to Stage Three-Day Rally
BTC/USD appears to be reversing ahead of the June low (24763) as it stages a three-day rally.
BTC/USD Outlook
BTC/USD may push towards the $27470 (23.6% Fibonacci extension) to $28220 (23.6% Fibonacci retracement) region as it trades to a fresh monthly high (26845), with a move above the 50-Day SMA (28207) bringing $29140 (38.2% Fibonacci extension) back on the radar.
However, BTC/USD may track the negative slope in the moving average after snapping the upward trend from earlier this year, with a move below 25990 (38.2% Fibonacci retracement) bringing the June low (24763) back on the radar.
BTC/USD Outlook
BTC/USD may push towards the $27470 (23.6% Fibonacci extension) to $28220 (23.6% Fibonacci retracement) region as it trades to a fresh monthly high (26845), with a move above the 50-Day SMA (28207) bringing $29140 (38.2% Fibonacci extension) back on the radar.
However, BTC/USD may track the negative slope in the moving average after snapping the upward trend from earlier this year, with a move below 25990 (38.2% Fibonacci retracement) bringing the June low (24763) back on the radar.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.