Capitalcore
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BTCUSD H4 Technical and Fundamental Outlook
BTCUSD, commonly known as "Bitcoin-Dollar," is the most widely traded cryptocurrency forex pair, representing Bitcoin against the US Dollar. As a highly volatile asset, BTCUSD is influenced by macroeconomic events, institutional adoption, and Federal Reserve monetary policies. Today’s key economic events include speeches from multiple Federal Reserve officials, such as Governor Philip Jefferson, Richmond Fed President Thomas Barkin, and Chicago Fed President Austan Goolsbee, who may provide insights into future monetary policies. If their remarks are hawkish, indicating tighter monetary policies, it could strengthen the USD and put downward pressure on BTCUSD. Additionally, the ISM Non-Manufacturing PMI and Crude Oil Inventories reports may further drive volatility. Given the market's sensitivity to Fed policy signals, traders should monitor these events closely to anticipate BTCUSD price action.
Chart Notes:
• Chart time-zone is UTC (+02:00)
• Candles’ time-frame is 4h.
The BTCUSD H4 chart shows the price reacting at the 0.618 Fibonacci retracement level around $97,008, which aligns with a significant support zone near $98,000. This level has been tested multiple times, and the latest two bearish candles suggest growing selling momentum. If the $98,000 - $97,000 support area fails to hold, BTCUSD could see a deeper decline toward the $95,684 Fibonacci support level. Conversely, if buyers step in, we may see a rebound toward the $99,340 (0.5 Fib) and $101,671 (0.382 Fib) resistance zones. The Parabolic SAR has recently flipped bullish, with the last 10 dots positioned below the price, signaling a potential reversal if support holds. However, the bearish price action and market momentum indicate that a breakdown is possible. Traders should closely watch price action at $98,000 - $97,000 to confirm whether it remains a strong support or breaks, leading to further downside.
• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.
Capitalcore
BTCUSD, commonly known as "Bitcoin-Dollar," is the most widely traded cryptocurrency forex pair, representing Bitcoin against the US Dollar. As a highly volatile asset, BTCUSD is influenced by macroeconomic events, institutional adoption, and Federal Reserve monetary policies. Today’s key economic events include speeches from multiple Federal Reserve officials, such as Governor Philip Jefferson, Richmond Fed President Thomas Barkin, and Chicago Fed President Austan Goolsbee, who may provide insights into future monetary policies. If their remarks are hawkish, indicating tighter monetary policies, it could strengthen the USD and put downward pressure on BTCUSD. Additionally, the ISM Non-Manufacturing PMI and Crude Oil Inventories reports may further drive volatility. Given the market's sensitivity to Fed policy signals, traders should monitor these events closely to anticipate BTCUSD price action.
Chart Notes:
• Chart time-zone is UTC (+02:00)
• Candles’ time-frame is 4h.
The BTCUSD H4 chart shows the price reacting at the 0.618 Fibonacci retracement level around $97,008, which aligns with a significant support zone near $98,000. This level has been tested multiple times, and the latest two bearish candles suggest growing selling momentum. If the $98,000 - $97,000 support area fails to hold, BTCUSD could see a deeper decline toward the $95,684 Fibonacci support level. Conversely, if buyers step in, we may see a rebound toward the $99,340 (0.5 Fib) and $101,671 (0.382 Fib) resistance zones. The Parabolic SAR has recently flipped bullish, with the last 10 dots positioned below the price, signaling a potential reversal if support holds. However, the bearish price action and market momentum indicate that a breakdown is possible. Traders should closely watch price action at $98,000 - $97,000 to confirm whether it remains a strong support or breaks, leading to further downside.
• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.
Capitalcore
