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BTCUSD Technical Analysis - BTCUSD Trading: 2024-11-26
BTCUSD Technical Analysis Summary
Below 92524
Sell Stop
Above 96401
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Neutral |
| Fractals | Neutral |
| Parabolic SAR | Sell |
| MA(200) | Buy |
BTCUSD Chart Analysis
BTCUSD Technical Analysis
The BTCUSD technical analysis of the price chart on 4-hour timeframe shows BTCUSD: H4 is retracing down toward the 200-period moving average MA(200) after hitting all-time high last Friday. We believe the bearish momentum will continue after the price breaches below 92524. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 96401. After placing the order, the stop loss is to be moved to the next fractal high indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Crypto - BTCUSD
Bitcoin price slumped yesterday despite MicroStrategy announcement it purchased another 55,000 bitcoins last week. Will the BTCUSD price continue declining?
In a filing with the SEC, MicroStrategy indicated it spent $5.4 billion to acquire 55,000 bitcoins between November 18 and November 24, paying for the purchase an average price of $97,862. The application software company reported it used proceeds from convertible notes and share sales to fund the purchase. MicroStrategy has been buying tokens since 2020. The company's prior weekly purchase included 51,780 bitcoins for an average price of just over $88,500 per token. Increasing investment in Bitcoin is bullish for cryptocurrency price. However, Bitcoin price closed 3.71% lower on the day despite the $5.4 billion investment announcement.
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