Bitcoin Price Analysis: Stops Cited Above 30994 - 30 June 2023

Crypto Daily
Crypto Daily

29 Jun 2023 2:00 PM

Bitcoin (BTC/USD) sought to extend recent gains early in the Asian session as the pair rallied from the 29885.53 area and reached the 30753.74 area following steady upsid...

  • Bitcoin (BTC/USD) has been experiencing gains and reached the 30753.74 area.
  • The 50-bar, 4-hourly simple moving average has provided support for BTC/USD.
  • The recent high was around the 31443.67 area, testing an upside price objective.
  • Additional upside price objectives include the 31737, 32125, and 33569 areas.
  • Potential support and buying pressure areas include 29863, 29427, 28886, 28804, 28182, 28096, and 27306.
  • Technicians are watching the 28095.44 area for technical support.
  • The 50-bar MA (4-hourly) is above the 100-bar MA (4-hourly) and the 200-bar MA (4-hourly).
  • The 50-bar MA (hourly) is below the 100-bar MA (hourly) and above the 200-bar MA (hourly).
  • Price activity is nearest the 50-bar MA (4-hourly) at 30245.77 and the 100-bar MA (hourly) at 30400.39.
  • Technical support is expected around 24440.41/23270.10/22769.39 with stops expected below.
  • Technical resistance is expected around 31986.16/32989.19/34658.69 with stops expected above.
  • On the 4-hourly chart, SlowK is bullish above SlowD while MACD is bearish below MACDAverage.
  • On the 60-minute chart, SlowK is bearish below SlowD while MACD is bullish above MACDAverage.

The sentiment of the article is mostly neutral, focusing on technical analysis and price movements of Bitcoin (BTC/USD).

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