Bitcoin remains on track to post weekly gains. Price seems to have steadied between key Fibonacci retracement levels. Bitcoin (BTC/USD) added around 2% on Saturday and closed at $6,8775 but erased the majority of its gains on Sunday. As of writing, the pair was trading at $6,782, down 1.35% on a daily basis. At the current level, the pair is up 15% on a weekly basis and remains on track to close the third straight week in the positive territory. Technical outlook On Thursday, the pair rose to its highest level in three weeks at $7,250 but lost its traction as the buying pressure started to fade away near the 61.8% Fibonacci retracement of the sharp drop at $7,250. With a decisive break above that level, the pair could target $7,650 (50-day SMA) and $8,170 (100-day SMA/200-day SMA). On the downside, supports could be seen at $6,600, (Fibonacci 50% retracement), $6,350 (20-day SMA) and $6,000 (Fibonacci 38.2% retracement/psychological level). Meanwhile, the RSI indicator on the daily chart continues to move sideways near the 50 handle to suggest that the price action is likely to remain neutral in the near-term. BTC/USD daily chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Iraqi Oil Minister: Optimistic about reaching a new OPEC+ supply cut deal FX Street 2 years Bitcoin remains on track to post weekly gains. Price seems to have steadied between key Fibonacci retracement levels. Bitcoin (BTC/USD) added around 2% on Saturday and closed at $6,8775 but erased the majority of its gains on Sunday. As of writing, the pair was trading at $6,782, down 1.35% on a daily basis. At the current level, the pair is up 15% on a weekly basis and remains on track to close the third straight week in the positive territory. Technical outlook On Thursday, the pair rose to its highest level in three weeks at $7,250 but lost its traction… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
