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FxWirePro- BTCUSD Daily Outlook

Ichimoku analysis (Daily chart)


Tenken-Sen- $55689


Kijun-Sen- $55949


BTCUSD lost once again after a pullback till $58420 and the pair is struggling to break above $59000 (May 3rd, 2021). The pair is between $50000 and $60000 for the past week. Any significant trend continuation only if breaks $65000.  The digital asset has formed a minor bottom around $53000 and jumped more than $5000. The Bitcoin is holding above 50 and 100- day MA. It hits an intraday low of $57750 and is currently trading around $57594.


The near-term resistance is around $60000. Any indicative break above targets $61700/$65000. Major trend continuation above $65000.


The pair's minor support is around $55280.A break below will drag the pair down to $53000/$51449 (100- day MA). Any daily close below $51450 will drag the pair down to $47000/$43000. Significant bearishness only if it breaks $43000.


Indicator (Daily chart)


CAM indicator –Slightly bullish


Directional movement index – Neutral


It is good to buy on dips around $53000 with SL around $50000 for TP of $64980.

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