Bitcoin (BTC/USD) experienced a moderate trend after a recent surge, trading below the 21000 figure after reaching a high of 21321.98 before dropping to 20333.33. Major stops were triggered above the 19856.70 and 20947.28 areas, with upside price objectives related to buying pressure at the 16326.16 and 17315.08 levels. Bulls are eyeing potential resistance and selling pressure at the 21488.32, 21920, 23127.09, and 23196.08 levels, with historical pressure noted around 25214.57, 32371, and 48240 levels.
The recent move to multi-month highs saw technical support levels at 19938, 19082, 18390, 17699, and 16714. Significant areas below current price activity include 15900, 15512, 15313, 14500, 14364, 13369, 10727, 10432, 9682, 8837, and 7538 levels. The 50-bar MA (4-hourly) is bullish above the 100-bar MA (4-hourly) and the 200-bar MA (4-hourly), with the 50-bar MA (hourly) also indicating bullish trends above the 100-bar MA (hourly) and the 200-bar MA (hourly).
Price activity is closest to the 50-bar MA (4-hourly) at 18105.19 and the 50-bar MA (hourly) at 19987.19. Technical support is expected at 18390.99, 16714.46, and 14500.15, with stops anticipated below these levels. Technical resistance is expected at 21488.32, 22912.49, and 23127.09, with stops anticipated above these levels.
On the 4-hourly chart, SlowK is bearish below SlowD while MACD is bullish above MACDAverage. On the 60-minute chart, SlowK is bearish below SlowD, while MACD is also bearishly below MACDAverage. It’s important to note that Sally Ho’s Technical Analysis is provided by a third party for informational purposes only and does not reflect the views of Crypto Daily or serve as legal, tax, investment, or financial advice.
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