BTCUSD Range Break Could Define the Next Major Move
Bitcoin has recovered toward $63,500 after testing the lower boundary of its two-month sideways range. Softer US inflation, weaker labour-market data and lower expectations for further Fed tightening are helping risk sentiment, but regulatory uncertainty continues to limit momentum.
A confirmed breakout above $65,625 could strengthen the bullish scenario and open the way toward $69,460 and $75,000.
The bearish scenario would become relevant after a sustained move below $62,500. In this case, BTC could decline toward $59,375, $57,000 and $53,125.
Technical signals remain mixed: the Bollinger Bands are flat and MACD momentum is weak, while the Stochastic Oscillator is turning higher from oversold territory.
Support: $62,500, $59,375, $57,000, $53,125
Resistance: $65,625, $69,460, $75,000
Tags: #BTCUSD , #Bitcoin , #BTC , #TechnicalAnalysis , #SupportAndResistance , #Breakout, #FederalReserve, #Cryptocurrency
Bitcoin has recovered toward $63,500 after testing the lower boundary of its two-month sideways range. Softer US inflation, weaker labour-market data and lower expectations for further Fed tightening are helping risk sentiment, but regulatory uncertainty continues to limit momentum.
A confirmed breakout above $65,625 could strengthen the bullish scenario and open the way toward $69,460 and $75,000.
The bearish scenario would become relevant after a sustained move below $62,500. In this case, BTC could decline toward $59,375, $57,000 and $53,125.
Technical signals remain mixed: the Bollinger Bands are flat and MACD momentum is weak, while the Stochastic Oscillator is turning higher from oversold territory.
Support: $62,500, $59,375, $57,000, $53,125
Resistance: $65,625, $69,460, $75,000
Tags: #BTCUSD , #Bitcoin , #BTC , #TechnicalAnalysis , #SupportAndResistance , #Breakout, #FederalReserve, #Cryptocurrency