Bitcoin (BTC) Price Analysis: Orbiting 44481 After 45000 Peak – 8 December 2023
Bitcoin’s price awaited new technical guidance after reaching a 19-month high around $45,000. During this recent surge, certain price levels were broken, indicating potential upside targets. These levels include $42,721.31, $44,481.98, $43,781.04, and more. The $45,000 high also tested a level around $45,278.22, which is historically significant. Moving forward, potential upside targets can be seen at $46,105, $46,487, and $49,161. On the other hand, areas of support and buying pressure are at $40,256, $38,998, $38,028, $37,321, and $35,285.
Technical indicators suggest a bullish trend, with the 50-bar MA (4-hourly) above the 100-bar MA (4-hourly) and the 200-bar MA (4-hourly). The 50-bar MA (hourly) is also above the 100-bar MA (hourly) and the 200-bar MA (hourly). The nearest 50-bar MA (4-hourly) is at $40,058.89, while the nearest 50-bar MA (hourly) is at $43,188.63. Additionally, there is expected support around $37,392.45, $36,720.55, and $35,633.00, with potential resistance at $46,487.10, $47,108.16, and $48,240.00.
In terms of technical indicators on the 4-hourly chart, SlowK is bearishly below SlowD, and MACD is also bearishly below MACDAverage. However, on the 60-minute chart, SlowK is bullishly above SlowD, while MACD is bearishly below MACDAverage.
Sally Ho’s Technical Analysis View Yesterday’s Trading Analysis
For more detailed analysis and insights into yesterday’s trading, you can refer to Sally Ho’s technical analysis.
By
By
By
By