Following the Bank of Japan's significant rate increase, BTCUSD momentum followed. The absence of greater surprises and indications of no swift tightening helped risk assets. At the moment, it trades around $88170; it reached an intraday high of $88326.
Oscillators and moving averages to forecast the trend of BTCUSD
CMP- $88138
EMA (4-hour chart)
55-EMA- $88372
200-EMA- $91753
365-EMA- $96113. The pair trades below the short-term and long-term moving averages.
Major Support - $85000. Any breach below $85000 will drag the pair down to $83000/$80000.
Major Resistance - $90000. Any break above $90000 confirms minor bullishness, a jump to $95415/$97400/$98500/$10000.
Indicators (4-hour chart)
CCI(50)- Bearish
ADX- Neutral
5. Investment Strategy for BTCUSD
It is good to buy on dips around $87000 with a stop loss around $84000 for target profits of $100000/$107000.
