- BTC/USD at Fresh Multi-Month Highs: Bitcoin (BTC/USD) has been surging higher, reaching its strongest print since early June 2022, and is currently eyeing the 30127.80 area as an upside price objective.
- Technical Support and Resistance Levels: Upside price objectives include the 29244.66, 29639.37, 30127.80 and beyond, while retracement levels and areas of potential technical support include the 25948, 25756, 25358 and more.
- Moving Averages Indicate Bullish Momentum: The 50-bar MA (4-hourly) is bullishly indicating above both the 100-bar MA (4-hourly) and 200-bar MA (4-hourly), while on a 60-minute chart SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.
BTC/USD at Fresh Multi-Month Highs
Bitcoin (BTC/USD) has been surging higher in recent trading sessions to reach its strongest print since early June 2022. Bulls are increasingly eyeing the 30127.80 area as an upside price objective associated with buying pressure around the 15460 and 19568.52 levels. Other upside price objectives include the 29244.66, 29639.37, 30275.12 and 30763.09 levels.
Technical Support & Resistance Levels
Stronger long positions are looking for price objectives around 34658 and 35821 in further appreciation from current levels, while retracement levels and areas of potential technical support include the 25948, 25756, 25358 ,24253 ,24099 ,23789 ,23147 ,22605 ,and 22198 levels for any pullback in prices from current highs. Downside price objectives below current activity also exist around 19266 ,19132 ,19106 ,19006 ,18981 ,18919 ,18822 18116 17720 17523 17457 17230 & 17196 areas if bearish momentum prevails over bullish sentiment going forward.
Moving Averages Indicate Bullish Momentum
On a 4 hour chart moving averages indicate bullish momentum; with the 50 bar MA being bullishly indicated above both 100 bar MA & 200 bar MA’s respectively; similarly on an hourly basis SlowK is also bullishly indicated above SlowD while MACD is bearishly below MACDAverage for now but could change going forward with rising prices or vice versa if prices start to decline significantly instead of appreciating further from here on out .