• BTC/USD bears slowed by 30142, with selling activity reversing around the 30148.60 area
• Technical support and buying pressure in areas of 29427, 28886, 28804, 28182, 28096 and 27306
• 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and 200-bar MA (4-hourly)

BTC/USD Bears Slowed by 30142

Bitcoin (BTC/USD) suffered from bearish sentiment early in the Asian session as the pair failed to sustain a break of the 30407 level. Selling activity reversed around the 30148.60 area, representing a test of the 23.6% retracement of a recent depreciating range from 31525.10 to 29715.87.

Price Objectives

Additional upside price objectives for Bitcoin include the 31737 , 32125 , and 33569 areas. Stops are cited above additional upside price objectives around the 31674 , 32043 , 34531 , and 34658 areas.

Technical Support & Buying Pressure

Following recent selling pressure , areas of potential technical support and buying pressure include the 29427 , 28886 , 28804 , 28182 , 28096 , and 27306 areas. Technicians are closely watching to see how much technical support develops around the 28095.44 area, representing the 23.6% retracement of a historical depreciating range from 69000 to 15460 .

Moving Averages

Traders are observing that the 50-bar MA (4-hourly) is bullishly indicating above both 100-bar MA (4-hourly) and 200-bar MA (4-hourly). Additionally, 50-bar MA (Hourly) is bearishly indicating below both 100-bar MA (Hourly) and 200-bar MA (Hourly). Price activity is nearest 100 barMA(4 Hourly) at 30422.49 and 50 barMA(Hourly) at 30234.43 .


Sally Ho’s Technical Analysis is provided by a third party, for informational purposes only; it does not reflect Crypto Daily’s views nor is it intended to be used as legal, tax, investment or financial advice