Crypto investment analysis: BTC price standing on 30220
BTC price is expected to move between 30440-29960 next 24 hrs.
Bitcoin (BTC/USD) is waiting for more technical guidance at the beginning of the Asian session as the pair is pushing hard around the 30281.33 area, representing a 23.6% retracement of the 29715.87 close thanks to the 30456 close. The sell has changed around 30148. which represents a test of 23.6% retracement of the decline of the range from 31525.10 to 29715.87.
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| BTC price movement possibility for next 24 hrs |
The selling pressure initially
increases recently in the area of 31142.38 and this raises the risk of
another test of the area of 29427, representing the 38.2% retracement of
26165 thanks to the range of .98 to 31443.67. Below this zone, the 28604.83
level represents the 50% retracement of this appreciation level. Other high
targets include the areas 31737, 32125, and 33569. Stops are quoted above the
price extension around 31674, 32043, 34531, and 34658. Following recent selling
pressure, potential technical support areas and buying pressure include the
29427, 28886, 28804, 28182, 28096, and 27306 areas. of the decrease in history
from 69000 to 15460. Traders note that the bar 50 MA (4 hours) points above the
100 bar MA (4 hours) and above the 200 bar MA (4 hours). Also, the 50-bar MA
(hourly) is bearish below the 100-bar MA (hourly) and below the 200-bar MA
(hourly).
Price activity is closest to the
100-bar MA (4 hourly) at 30,465.99 and the 100-bar MA (hourly) at 30,403.73.
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