Bitcoin Price Analysis: More Advances from 29900 - 28 June 2023

Crypto Daily
Crypto Daily

27 Jun 2023 6:00 PM

Bitcoin (BTC/USD) sought to add to recent gains early in the Asian session as the pair reached the 30782.06 area before consolidating some advances, the latest renewal of...

  • BTC/USD reached 30782.06 before consolidating some advances
  • Bulls are eyeing the 30994.30 area as an upside hurdle
  • Recent buying pressure intensified just above the 30198.14 area and 29863.96 area
  • Recent print around the 31443.67 area was a twelve-month high and test of an upside price objective
  • Stops were triggered above additional upside price objectives around the 29068, 29159, 29458, 30088, 30200, 30292, and 30477 levels
  • Following recent upside price activity, areas of technical support and potential buying pressure include the 30192, 29863, 29423, 28886, 28179, 28096, and 27293 areas
  • Technicians are closely watching to see how much technical support develops around the 28095.44 area
  • Traders are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly)
  • On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage
  • On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage

The article presents a positive sentiment towards BTC/USD as it highlights recent gains and bullish technical indicators.

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What is the current BTC/USD price?What is the upside hurdle that bulls are eyeing?What are the areas of technical support and potential buying pressure?What are the technical indicators that traders are observing?What is the sentiment of the article towards BTC/USD?

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