BTC/USD experienced a significant surge last night, reaching an intraday high of $31,261.11. However, the pair later was hammered back down during Friday morning trading hitting the $29,613.00 before moving back up to the $30,031.00 where its trading now. From the daily, BTC/USD still exhibits strong momentum indicators, with the Average Directional Index (ADX) currently standing at 35.78. The positive directional indicator (+Di) is at 35.98, while the negative directional indicator (-Di) has slightly decreased to 11.77. The Moving Average Convergence Divergence (MACD) line is at 788.86, with the signal line positioned above it at 985.03. Although the two lines are still converging, they remain significantly apart, indicating a bullish trend. Moreover, price remains well above the 50-day Simple Moving Average (SMA) by 9.33% and is 21.99% higher than its 200-day SMA. Both still signify strong market momentum for BTC/USD.
BTC/USD STOCKCHARTS.COM
Bitcoin surged against US Tether last night, reaching a peak of $31,281.60 before experiencing a significant drop to a low of $28,500.00. However, the pair has since rebounded and is currently trading at $30,036.14 as of 11:04 Lima time. It is likely that Minuette (ii) has concluded at the $29,500 low. As a result, we can anticipate a retracement of approximately 61.8% in line with the lower channel trend line. From there, the bullish trend from the $24,800.00 June 15 low should resume.
BTC/USDT BINANCE DAILY CHART
BTC/USDT BINANCE DAILY BAR CHART
