BTC/USD Rebounds Above 24K, Analysts Eye Further Gains

7. Februar 2023 Von admin Aus

• Bitcoin (BTC/USD) rebounded slightly early in the Asian session.
• Stops were elected above the 24224.60 and 23980.62 levels, indicating buying pressure around the 15460 and 20370.01 areas respectively.
• Technical support levels and areas of potential buying pressure are around the 22389, 22184, 21230, 20294, 19861, 19357, and 18822 levels.

BTC/USD Price Movement

Bitcoin (BTC/USD) rebounded slightly early in the Asian session as the pair rallied back above the 24000 figure after bottoming out around the 23257.71 area. This move lower represented another test of the 200-hour simple moving average followed by a surge to an upside price objective related to buying pressure that emerged around 15460 and 20370.01 areas when Stops were elected above 24224.60 and 23980.62 levels respectively.

Upside Price Objectives

Upside price objectives related to buying pressure around 16326.16 include 25455, 25774, 27609, and 28004 levels; while those related to buying pressure around 15460 include 26612, 26931, 29244 and 29639 levels.

Technical Support & Resistance Levels

Following recent highs technical support levels & areas of potential buying pressure are observed at 22389, 22184, 21230, 20294, 19861 ,19357 & 18822 levels with Stops below 18199 ,18024 ,17537 & 17343 respectively.

Moving Averages

Traders are noting that 50-bar MA (4-hourly) is bullishly indicating above 100-bar MA (4-hourly) as well as 200-bar MA (4-hourly). Additionally 50-bar MA (hourly) is also bullishly indicating above 100-bar MA (hourly) & 200-bar MA (hourly). Price activity is nearest 50 bar MA(4 hourly) at 23296.19 & 50 bar MA(Hourly )at 23508.19.

Macd Indicators

On 4 Hourly chart SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage; on 60 minute chart SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage .