Bitcoin (BTC/USD) is holding onto some of its gains as it tries to stay above the 50% retracement level at 26709.83. During its rapid rise above 28000, key technical levels were broken, including 27139, 27466, 27728, and 27766. In the short term, BTC/USD could test upside levels at 28316, 28548, 29145, 29330, and 30183. Higher price objectives include 30526, 30611, 30762, and 31145. Additional buying pressure could push the price to 32125 and 33569, with stops above 32043, 34531, 34658, and 35912. Support and potential buying pressure levels are at 26947, 26620, 26293, and 25828.
During the pullback, stops were triggered below 27314 and 27234, leading to downside price objectives at 27941 and 27778. Short-term downside levels include 27045, 27009, 26732, and 26283. Support and buying pressure can be found at 23661, 22793, and 21725. The recent low at 25234.76 tested a major downside price objective at 25128.94, associated with selling pressure in July. The moving averages indicate a bearish signal on the 4-hourly chart and a bullish signal on the hourly chart.
The nearest moving averages are at 27068.11 (4-hourly) and 26770.83 (hourly). Technical support is expected at 24440.41, 23270.10, and 22769.39, with stops below. Resistance levels are at 31986.16, 32989.19, and 34658.69, with stops expected above. The 4-hourly chart shows bearishness in SlowK and bullishness in MACD, while the 60-minute chart shows bearishness in both SlowK and MACD.
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