Bullish view
- Buy the BTC/USD pair and set a take-profit at 100,000.
- Add a stop-loss at 94,000.
- Timeline: 1-2 days.
Bearish view
- Sell the BTC/USD pair and set a take-profit at 94,000.
- Add a stop-loss at 100,000.
Bitcoin price continued its rebound to its highest level since November 14 as demand for cryptocurrencies rose. The BTC/USD pair moved to 97,500, up sharply from a low of 80,465 in November last year.
BTC/USD Technical Analysis
The daily timeframe chart shows that the BTC/USD pair has been in a strong uptrend in the past few months, moving from a low of 80,465 in November to the current 97,500.
It has moved above the crucial resistance level at 94,900, its highest level in December last year. Moving above that level was notable as it was the upper side of the ascending triangle pattern, a common bullish continuation sign.
The pair has moved above the 50-day and 25-day Exponential Moving Averages (EMA). It has also moved above the Supertrend indicator, while the Relative Strength Index (RSI) and the MACD indicators have continued rising.
The RSI moved from the oversold level of 23 in November to the current 70, while the two lines of the MACD have moved above the zero line.
Therefore, the pair will likely continue rising in the coming days as bulls target the important resistance level at 100,000. A move above that level will point to more gains over time.
Top Regulated Brokers
On the other hand, a drop below the important support level at 94,900 will invalidate the bullish outlook.
CLARITY Act and ETF Inflows
The BTC/USD pair continued its strong rally as traders eyed the markup of the CLARITY Act, which will happen on Thursday.
This is an important regulatory event that will separate the duties between the Securities and Exchange Commission (SEC) and the CFTC. It will be the most important regulatory success in the United States after the GENIUS Act, which was passed last year.
Bitcoin price is rising as demand from the US retail and institutional investors, with ETF inflows rising by over $1 billion this year. These funds now have over $57.2 billion in inflows and $123 billion.
The BTC/USD pair rose as investors anticipated that the Supreme Court would deliver its decision on Donald Trump's tariffs. Most traders on Polymarket and Kalshi expect that the court will rule against Donald Trump on the tariff issue.
Ready to trade our free Forex signals? Here are the best MT4 crypto brokers to choose from.