• Bitcoin (BTC/USD) is trading at its highest levels since early June 2022.
• Bulls are eyeing price objectives around the 30127.80 and 34658 areas.
• Retracement levels and areas of potential technical support include the 25948, 25756, 25358, 24253, 24099, 23789, and 23147 levels.
Multi-Month Highs for BTC/USD
Bitcoin (BTC/USD) has been experiencing a surge in recent days which has seen it reach its highest levels since early June 2022. The pair is currently trading around the 29190.04 area with strong technical support given by the 26525 level.
Upside Price Objectives
Bulls have their eyes on several upside price objectives including the 29244.66, 2963937,, 30127.80, 30275.12 and 30763.09 areas as well as further out goals such as 34658 and 35821 levels should current momentum continue to build up steam.
Retracement Levels & Areas of Support
In case of any retracements from current prices there are also several key retracement levels and areas of potential technical support that traders should be mindful of including the 25948, 25756, 25358, 24253, 24099, 23789 and 23147 points among others below current market activity..
Moving Averages Indicate Bullish Momentum
Traders will also want to keep an eye on various moving averages which are indicating bullish sentiment such as 50-bar MA (4-hourly) which is currently bullishly above both 100-bar MA (4-hourly) and 200-bar MA (4-hourly). The same can be said for 50-bar MA (hourly) which is also bullishly above both 100-bar MA (hourly) and 200-bar MA (hourly).
It is important to note that this analysis should not be taken as legal or financial advice but rather informational only in nature provided by a third party source.