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.
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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.
