Ethereum / Breaking News / Bitcoin / Analytics
Bitcoin (BTC/USD) appreciated to the 9296.98 level in today’s Asian session as the pair was listed from the 9085.00 area during yesterday’s North American session. Following the pair’s recent move lower to the 8950.00 level during Thursday’s North American session, the pair quickly rebounded to the 9433.00 level before coming off and finding technical Support just below the 9063.99 area, representing the 76.4% retracement of this relative low and relative high. Selling pressure emerged during yesterday’s North American session right around the 9300.14 area, representing the 23.6% retracement of the 10540.49 – 8917.00 range.
Stops were elected above the 100-bar MA (hourly) during the move higher yesterday to the 10540.49 area, then indicating around the 9258.64 area. The 100-bar MA (hourly) is now indicating above the 50-bar MA (hourly) and chartists are observing market activity to see if BTC/USD can build a constructive base above the 50-bar MA (hourly). Notably, the 200-bar MA (hourly) is now indicating just above the 8947.18 area, an important level that was technical Support during Thursday’s European session. Below current market activity, traders expect buying pressure around the 8929 and 8688 levels. Above current market activity, traders expect selling pressure around the 9430, 9532, and 9585 levels.
Price activity is nearest the 50-bar MA (4-hourly) at 9,061.73 and the 100-bar MA (Hourly) at 9,233.63.
Technical Support is expected around 8918.47/ 8535.67/ 8062.04 with Stops expected below.
Technical Resistance is expected around 9774.89/ 10540.49/ 10939.34 with Stops expected above.
On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.
On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.