• Bitcoin (BTC/USD) has recently traded as high as the 26553.90 level and is currently orbiting the 25000 figure.
• Upside price objectives related to buying pressure around the 15460 and 16326.16 areas include the 26931, 27609, 28004, 29244, and 29639 levels.
• Retracement levels and areas of potential technical support include the 25451, 24905, 24769, 24218, 23885, 23667, 23061, 22985, 22882, 22236, and 21882 levels.
Elevated Volatility Returns for BTC/USD
Bitcoin (BTC/USD) continued to experience elevated volatility early in the Asian session with its strongest print since June 2022 at 26553.90. Stops were triggered above multiple levels such as 21753 and 22428 with upside price objectives at 26931 and 27609 respectively.
Upside Price Objectives
Buying pressure emerged around the 24064.72 area during a recent pullback which is a 78.6% retracement of its depreciating range from 25288.88 to 19568.52. Upside price targets have been set around 15460 and 16326.16 which include 26931, 27609 ,28004 ,29244 ,and 29639 respectively .
Retracement Levels & Technical Support
Following an appreciation in value retracement levels have been identified including 25451 ,24905 ,24769 ,24218 ,23885 ,23667 ,23061 ,22985 ,22882 ,22236 and 21882 with potential technical support at 19266 and 19132 .
Moving Averages
Traders are noting that 50-bar MA (4-hourly) is bearishly indicating below 100-bar MA (4-hourly) and 200-bar MA (4-hourly). Additionally 50-bar MA (Hourly) is bullishly indicating above 100-bar MA (Hourly) & 200-bar MA (Hourly). Price activity is nearest 200 bar MA(4 hourly) at 22932 & 50 bar MA(Hourly) at 24602 .
Additional Technically Significant Areas
Additional technically significant areas include 15900 ,15512 15313 14500 14364 13369 10727 10432 9682 8837 7538 .
< h2 > Indicators On 4 Hourly chart SlowK is Bearishly Below SlowD while MACD is Bullishly Above MACDAverage; on 60 minute chart SlowK is Bullishly Above SlowD while MACD is Bearishly Below MACDAverage . Disclaimer : Sally Ho’s Technical Analysis provided by third party for informational purposes only not reflecting Crypto Daily views or intended to be used as legal tax investment or financial advice .