• Bitcoin (BTC/USD) recently peaked around the 22331.76 area, below the 22401.70 area which represents a downside price objective associated with selling pressure that intensified around the 24262.18 and 23451.11 levels.
• Buying pressure recently emerged around the 21366.45 level, leading to upside price objectives related to buying pressure around the 16326.16 and 15460 areas.
• Technical support levels and areas of potential buying pressure exist around the 21230, 20294, 19861, 19357 and 18822 levels with stops cited below 18199, 18024, 17537 and 17343 levels.
BTC/USD Capped Below 22401
Bitcoin (BTC/USD) has been facing selling pressure after peaking near 22331.76, slightly lower than its downside price objective of 22401.70 due to increased selling activity around 24262.18 and 23451.11 levels respectively.
Emerging Buying Pressure
Buying pressure was observed near 21366.45 level which has led to upside price objectives associated with buying pressure at 16326.16 and 15460 areas respectively.
Technical Support Levels
Technical support can be found at 21230, 20294, 19861, 19357 and 18822 levels with stops placed below 18199, 18024, 17537 and 17343 for further protection against losses if needed in future trades as well as possible uptrends in prices should they occur during trading sessions in this period of time where actual market conditions could potentially change due to geopolitical or economic events that could influence exchange rates in various ways depending upon their degree of severity or importance from an international perspective amongst other factors that could also have an impact on prices over time if deemed relevant by those who are considered experts or authorities when it comes to analyzing currency trends based on real-time data being collected from major exchanges across the globe at any given moment in order to make informed decisions regarding investments that could result in either profits or losses depending upon how these markets are affected by external events beyond their control such as natural disasters among other potential scenarios that might arise without prior warning making it essential for traders anywhere on Earth who wish to remain competitive within global markets need access reliable information backed up by years of experience when making decisions about what assets may be worth investing into under certain circumstances as well as having a plan set up ahead of time so as not take unnecessary risks while trading any digital asset like Bitcoin (BTC).
50 & 200 MA Indicators
Traders are observing that both 50-bar MA (4-hourly) is bearishly indicating below the 100-bar MA (4-hourly) & above 200-bar MA (4-hourly), while 50-bar MA (Hourly) is bearishly indicating below 200-bar MA (Hourly) & above 100-bar MA( Hourly). In addition Price activity is closest to 50 bar MA( 4 hourly )at 22267 & 200 bar MA( Hourly )at 22283 respectively .
MACD Analysis
On 4 – Hourly chart , SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage . On 60 – minute chart , SlowK is Bearishly Below SlowD while MACD is Bearishly Below MACDAverage .