• Bitcoin (BTC/USD) is maintaining strong upward momentum in the Asian session near the 24000 figure.
• Upside price objectives related to buying pressure around the 16326.16 area include the 25455, 25774, 27609, and 28004 levels.
• Technical support levels and areas of potential buying pressure are around the 23833, 23552, 23171, 23134, 22878, 22717, 22674, 22101, 21439, and 21295 areas.
Price Rally
Bitcoin (BTC/USD) maintained strong upward momentum early in the Asian session as the pair explored bids above the 24000 figure following its acute ascent to a fresh multi-month high around 24903 level. Stops were elected above a series of upside price objectives during this rally such as 23980.62 and 24224.60 levels.
Upside Price Objectives
Upside price objectives related to buying pressure around 16326.16 area include 25455, 25774, 27609 and 28004 levels.
Technical Support Levels
Following this move higher to multi-month highs technical support levels and areas of potential buying pressure are around 23833, 23552, 23171 ,23134 ,22878 ,22717 ,22674 ,22101 ,21439 and 21295 areas respectively with stops cited below 21047 ,20874 ,20724 and 20370 levels .
Moving Averages Traders are observing that 50-bar MA (4-hourly ) is bearishly indicating below 100-bar MA (4-hourly) which is above 200- bar MA (4 – hourly ). Also 50 – bar MA (hourly ) is bullishly indicating above 100 – bar MA (hourly ) which is also above 200 – bar MA (hourly ). Price activity is nearest 100 – bar MA ( 4 – hourly ) at 22832 . 33 & also 50 – bar MA( Hourly ) at 23109 . 81 .
< h2 >Other Technically Significant Areas Below current price activity other technically significant areas include 15900 , 15512 , 15313 , 14500 , 14364 , 13369 , 10727 10432 9682 8837 & 7538 levels . Disclaimer : Sally Ho’s Technical Analysis is provided by a third party & for informational purposes only ; it does not reflect views of Crypto Daily nor is it intended to be used as legal tax investment or financial advice .