Ethereum / Breaking News / Bitcoin / Analytics
Bitcoin (BTC/USD) appreciated to the 9364.95 area early in today’s Asian session as the pair appreciated from the 9253.66 level late in yesterday’s North American session, then right around the 200-bar MA (hourly). Traders continue to search for a market bias as the pair continues to orbit the 9301.26 area, representing the 38.2% retracement of the 7296.44 – 10540.49 range. That area is also near another important retracement level, namely the 9269.57 level that represents the 50% retracement of the broader 4670.69 – 13868.44 range. Below current market activity, the next retracement level related to this broader range is the 8184.23 area. Above current market activity, the next retracement level related to this broader range is the 10354.90 area.
Longer-term BTC/USD traders also observe that current market activity is also orbiting the 9385.99 area, the 61.8% retracement level of another range, specifically the move from 6615.28 to 13868.44. Below that level, the 8327.03 area represents the 76.4% retracement of that range and may provide technical Support. Above that level, the 10241.86 area represents the 50% retracement of that range and may provide technical Resistance. A couple of additional important levels to monitor include the 8947.18 and 9887.63 areas, representing the 76.4% and 61.8% retracements of the 7427.00 – 13868.44 range.
Price activity is nearest the 50-bar MA (4-hourly) at 9,245.74 and the 50-bar MA (Hourly) at 9,342.67.
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 Bearishly below SlowD while MACD is Bearishly below MACDAverage.
On 60-minute chart,