• Bitcoin (BTC/USD) maintained strong upward momentum early in the Asian session as the pair explored bids above the 24000 figure following its acute ascent to a fresh multi-month high around the 24903 level.
• Technical support levels and areas of potential buying pressure are around the 23833, 23552, 23171, 23134, 22878, 22717, 22674, 22101, 21439, and 21295 areas.
• Upside price objectives related to buying pressure around the 16326.16 area include the 25455, 25774, 27609, and 28004 levels.
Bullish Momentum
Bitcoin (BTC/USD) maintained strong upward momentum early in the Asian session as the pair explored bids above the 24000 figure following its acute ascent to a fresh multi-month high around the 24903 level. Stops were elected above a series of upside price objectives during the massive rally including the 23980.62 and 24224.60 levels.
Technical Support Levels
Technical support levels and areas of potential buying pressure are around the 23833, 23552, 23171, 23134, 22878 ,22717 ,22674 ,22101 ,21439 ,and 21295 areas. Moving averages associated with this price action include 50-bar MA (4-hourly), 100-bar MA (4-hourly), 200-bar MA (4-hourly), 50-bar MA (Hourly), 100-bar MA (Hourly) and 200-bar MA (Hourly). Price activity is nearest to 100 bar MA( 4 Hourly ) at 22832 .33 and 50 bar MA( Hourly )at23109 .81 respectively .
Upside Price Objectives
Upside price objectives related to buying pressure around 16326 .16 area includes25455 ,25774 ,27609 & 28004 levels . Similarly Upside price objectives related to buying pressure around 15460 area includes 26612 ,26931 ,29244 & 29639 levels respectively .
Stops Expected
Stops expected below technical support level 18390 .99 /16714 .46 /14500 .15 while stops expected above technical resistance level 25455 .06 /25774 .41 /26612 .64 respectively