Technical Analysis of BTC/USD for September 6, 2023
September 6, 2023 9:26 am
Crypto Industry News:
Reports from the cryptocurrency industry are able to very accurately show global trends. One recent report by Consensys reveals that Nigeria is now a world leader when it comes to crypto awareness. This study was conducted in the form of an online survey and was attended by 15,158 people from 15 countries around the world. The countries surveyed included the United States, Great Britain, France, Japan, South Korea and Argentina.
According to the study, Nigeria is the world leader when it comes to awareness of BTC and other cryptocurrencies. As many as 99% of respondents have heard of cryptocurrencies, and 91% of them are willing to invest in digital assets.
Although the small number of respondents means that the results may not be entirely reliable, the report clearly shows what is known about African countries. According to the report, Nigeria ranked as the leader when it comes to crypto-awareness. The results of the survey are in line with what Nigerians themselves say about themselves. Knowledge of cryptocurrencies in this African country located on the Gulf of Guinea is at an exceptionally high level. In addition, 91% of respondents expressed a willingness to invest in digital assets.
Technical Market Outlook:
The BTC/USD pair has broken below the key short-term technical support seen at the level of $25,356 and made a new swing low at the level of $25,333. The bearish pressure is strong and the momentum is again weak and negative, so the short-term outlook for BTC remains bearish. The intraday technical support is seen at the level of $25,820 and the intraday technical resistance is seen at the level of $26,119.
Weekly Pivot Points:
WR3 – $26,375
WR2 – $26,157
WR1 – $26,042
Weekly Pivot – $25,939
WS1 – $25,824
WS2 – $25,721
WS3 – $25,503
Trading Outlook:
The bulls broken above the gamechanging level located at $25,442, so now the mid-term outlook for BTC is bullish. The last pull-back has reached the 38% Fibonacci retracement and the market is ready to continue the up move. The next target for bulls is seen at the level of $32,350. As long as the level of 19,572 is not clearly violated, there is a chance for a long-term up trend to continue.
The material has been provided by InstaForex Company – www.instaforex.com
Crypto Industry News:
Reports from the cryptocurrency industry are able to very accurately show global trends. One recent report by Consensys reveals that Nigeria is now a world leader when it comes to crypto awareness. This study was conducted in the form of an online survey and was attended by 15,158 people from 15 countries around the world. The countries surveyed included the United States, Great Britain, France, Japan, South Korea and Argentina.
According to the study, Nigeria is the world leader when it comes to awareness of BTC and other cryptocurrencies. As many as 99% of respondents have heard of cryptocurrencies, and 91% of them are willing to invest in digital assets.
Although the small number of respondents means that the results may not be entirely reliable, the report clearly shows what is known about African countries. According to the report, Nigeria ranked as the leader when it comes to crypto-awareness. The results of the survey are in line with what Nigerians themselves say about themselves. Knowledge of cryptocurrencies in this African country located on the Gulf of Guinea is at an exceptionally high level. In addition, 91% of respondents expressed a willingness to invest in digital assets.
Technical Market Outlook:
The BTC/USD pair has broken below the key short-term technical support seen at the level of $25,356 and made a new swing low at the level of $25,333. The bearish pressure is strong and the momentum is again weak and negative, so the short-term outlook for BTC remains bearish. The intraday technical support is seen at the level of $25,820 and the intraday technical resistance is seen at the level of $26,119.
Weekly Pivot Points:
WR3 – $26,375
WR2 – $26,157
WR1 – $26,042
Weekly Pivot – $25,939
WS1 – $25,824
WS2 – $25,721
WS3 – $25,503
Trading Outlook:
The bulls broken above the gamechanging level located at $25,442, so now the mid-term outlook for BTC is bullish. The last pull-back has reached the 38% Fibonacci retracement and the market is ready to continue the up move. The next target for bulls is seen at the level of $32,350. As long as the level of 19,572 is not clearly violated, there is a chance for a long-term up trend to continue.
The material has been provided by InstaForex Company – www.instaforex.com
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