ביטקוין שואף לרווחים נוספים, כאשר המגמות הטכניות מצביעות על התחזקות — Barrons.com

[라온]

By Doug Busch

Bitcoin has been showing renewed strength, which could signal broader risk appetite on Wall Street.

If the advance persists, it could help reinforce a broader risk-on backdrop across technology and other growth-oriented areas of the market.

We are already starting to see this with software's renewed vigor, and conversely we are starting to see some outflow from the defensive groups like consumer staples as the State Street Consumer Staples Select Sector SPDR ETF fund was down more than 5% this week as of Thursday afternoon. If that holds, it would be the largest weekly decline in nearly four years.

Looking at Bitcoin's daily chart reveals some positive traits. The stock has broken above a bear flag, or it could be interpreted as a short bullish ascending triangle too.

Notice a bearish death cross was recorded last December, but keep in mind that once these occur, bulls should look out for positive catalysts as they tend to happen after most of the technical damage has been done. That theme came after the completion of a bullish morning star on Feb. 25, and notice the doji candle the previous session, which adds to the allure. That was followed by a bullish engulfing candle on March 2, and then came the breakout on Wednesday above the round $70,000 number. I think this can be bought here and look for a tactical move toward $81,000 in the near term, which would fill in the upside gap from Jan. 30, and be an advance of 14% from current prices. From there it could be carving out a double bottom base. Remain constructive above $66,000.

Bitcoin was trading around $71,000 Thursday.

Looking at Bitcoin's monthly chart also shows encouraging signs. Those that say technicals cannot be used in crypto are incorrect. Notice that since the Covid lows anytime the 40-45 RSI level has been tested, as it is now, the price has responded favorably.

Currently, it is mired in a five-month losing streak and remains down more than 40% from its peak of $125,000. It is testing its 50 month simple moving average for the first time since breaking above a bull flag at $75,000 in November 2024, which is often an optimal entry point. Notice how the lows appeared after the completion of a bullish morning star in January 2023 in a cup base.

Momentum continues to favor the bulls, reinforcing the case for further upside.

Doug Busch is the senior technical analyst at Barron's Investor Circle . His technical view is added to stock picks, including those published exclusively for Investor Circle readers. A glossary of technical terms is updated regularly with new entries.

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
source: https://www.tradingview.com/news/DJN_DN20260305009330:0/