• BTC/USD has surged to its highest level since early June 2022, with bulls now eyeing the 30127.80 area.
• Uptrends are being supported by technical support levels around 26525 and 23.6% retracement of 19568.52 to 28937.93 range.
• Downside price objectives include 19266, 19132, 19106, 19006, 18981, 18919, 18822, 18116, 17720 and 17523 areas.
BTC/USD at Fresh Multi-Month Highs
Bitcoin (BTC/USD) maintained positive momentum early in the Asian session as the pair sought to add to recent gains following a surge higher to the 29190.04 area – its strongest print since early June 2022.
Technical Support
Technical support around the 26525 level solidified the recent move higher, right around the 23.6% retracement of the appreciating range from 19568.52 to 28937.93.
Bulls Eyeing Price Objectives
Bulls are increasingly eyeing the 30127.80 area – an upside price objective associated with buying pressure around the 15460 and 19568.52 levels.
Following this appreciation, other upside price objectives include: 29244.66; 29639.37; 30275.12; 30763.09; and 31477.37.
Meanwhile potential technical support includes: 25948; 25756; 25358; 24253; 24099; 23789; 23147; 22605; and 22198.
Below current price activity is downside price objectives including: 19266; 19132; 19106; 19006; 18981 ; 18919 ; 18822 ; 18116 ; 17720 ; 17523 ; 17457 ; 17230 ; and 17196 areas.
Moving Averages
Traders have observed that 50-bar MA (4-hourly) is bullishly indicating above 100-bar MA (4-hourly) and 200-bar MA (4-hourly). Additionally 50-bar MA (hourly) is also bullishly indicating above 100-bar MA (hourly) and 200-bar MA (hourly). Price activity is nearest 50 bar MA (4 hourly) at 27840 .07 and 50 bar MA (Hourly) at 27976 .31.
Chart Analysis On 4 Hourly chart , SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage . On 60 minute chart , SlowK is Bullishly above SlowD while MACDis Bearishly below MACDAverage