BTC/USD Upward from 30342 Technical Aspect: SallyHo's Technical Analysis - June 28, 2023Bitcoin (BTC/USD) attempted to expand its recent gains earlier in the Asian session, reaching the 30782.06 region before consolidating some progress
BTC/USD Upward from 30342 Technical Aspect: SallyHo's Technical Analysis - June 28, 2023
Bitcoin (BTC/USD) attempted to expand its recent gains earlier in the Asian session, reaching the 30782.06 region before consolidating some progress. This is the latest update on the strengthening of upward pressure near the 29900 region. Bulls continue to view the 30994.30 area as an upward obstacle, representing a 23.6% pullback in the recent appreciation range of 29539.57 to 31443.67. Recently, buying pressure has also intensified above the 30198.14 and 29863.96 regions, which is a level of pullback related to buying pressure rebounding near the 26165.98 and 24750 regions. The currency pair has recently reached a twelve month high near the 31443.67 area and tested its upward price target related to increased buying pressure near the 26637.41 area. During the period of continuous appreciation, the stop loss has recently chosen to be above the 30127.80 area, which is an upward price target related to historical buying pressure near the 15460 and 19568.52 areas.
Stop losses are also triggered above additional upward price targets near levels 29068, 29159, 29458, 30088, 30200, 30292, and 30477. Other upward price targets include the 31737, 32125, and 33569 regions. Additional upward price targets with stop loss points located near the 31674, 32043, 34531, and 34658 regions. After the recent price increase, the technical support and potential buying pressure areas include 30192, 29863, 29423, 28886, 28179, 28096, and 27293. Technicians are closely monitoring how much technical support is available near the 28095.44 area, which represents a 23.6% pullback in the historical depreciation range of 69000 to 15460 points. Traders observed a bullish 50 bar moving average (4 hours), indicating a range above 28095.44. Above 100 column MA (4 hour line) and 200 column MA (4 hour line). In addition, the 50 bar moving average (hourly) is bullish, indicating that it is above the 100 bar moving average (hourly) and the 200 bar moving average (hourly).
The price activity is closest to the 50 column moving average (4 hours) of 29365.77 and the 50 column moving average (per hour) of 30400.23.
Expected technical support is located in
Near 24440.41/232770.10/22769.39, the stop loss is expected to be located below.
The expected technical resistance level is
Near 31986.16/32989.19/34658.69, the stop loss is expected to be above.
On the 4-hour chart, SlowK is above SlowD and bullish, while MACD is below MACDaverage and bearish.
On the 60 minute K-line trend chart, SlowK is in a bearish direction lower than SlowD, while MACD is in a bullish direction higher than MACDaverage.
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