• Bitcoin (BTC/USD) is at its highest level since June 2022.
• Uptrend targets include the 29244.66, 29639.37, 30127.80, 30275.12, 30763.09 and 31477.37 levels.
• Technical support is expected around 25256.83/ 24224.50/ 21753.70 with Stops expected below
Fresh Multi-Month Highs for BTC/USD
Bitcoin (BTC/USD) has surged to a fresh multi-month high in the Asian session as the pair moves towards 29190.04 area, its strongest print since early June 2022.. The 23.6% retracement of the appreciating range from 19568 .52 to 28937 .93 provides technical support and bulls are now increasingly eyeing the 30127 .80 area as an upside price objective associated with buying pressure around 15460 and 19568 .52 levels.
Uptrend Targets
Following recent appreciation, key levels for potential upside targets include 29244 .66, 29639 .37, 30127 .80, 30275 .12 ,30763 .09 and 31477 .37.
Technical Support
Potential retracements and areas of technical support include 25948 ,25756 ,25358 ,24253 ,24099 ,23789 , 23147 ,22605 and 22198 levels with downside objectives including 19266 ,19132 ,19106 ,19006 ,18981 ,18919 18822 18116 17720 17523 17457 17230 and 17196 areas.
Moving Averages Indicators
The 50-bar MA (4-hourly) is indicating above both 100-bar MA (4-hourly) and 200 bar MA (4-hourly). Similar bullish pattern is seen on hourly chart where 50 -bar MA is above both 100 -bar MA and 200 -bar MA while price activity remains nearest to 50 -bar MA at 27840 .07 and 27976 .31 respectively.
MACD Analysis
On 4 -Hourly chart SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage whereas on 60 minute chart SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.
Disclaimer: Sally Ho’s Technical Analysis is provided by a third party, and for informational purposes only. It does not reflect the views of Crypto Daily nor it intended to be used as legal tax investment or financial advice