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BTC/USD Holding 19012.07 After Rebound: Sally Ho's Technical Analysis 3 December 2020 BTC

BTC/USD Holding 19012.07 After Rebound:  Sally Ho's Technical Analysis 3 December 2020 BTC

Bitcoin (BTC/USD) moved higher in today’s North American session as the pair appreciated to the 19466.58 area after trading as low as the 18885.00 area in the European session, a test of the 18922.31 area that represents the 23.6% retracement of the recent appreciating range from 15708.24 to 19915.14. The pair has recently traded around its recently-established all-time high around the 19915.14 area, a level that was established after Stops were elected above the previous all-time high of 19891.99.  Additional upside price objectives include the 20311.36, 20534.46, and 21909.24 areas, levels that relate to buying pressure that emerged earlier this year around the 6430.00 and 6854.67 areas.

Following the move to a recent all-time high, traders are paying close attention to recent areas of upside buying pressure, including the 13215.00, 14310.00, 15708.24, 16200.00, and 17610.77 areas.  Some important retracement levels related to these ranges include 18762.96, 18154.60, 17355.69, 17112.57, 16701.07, 16304.69, and 15935.90.  Below current price activity, additional areas of technical support include the 14273.50, 14259.01, 14101.50, 13989.55, 13892.29, 13705.50, 13663.43, and 13594.42 levels. Chartists are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly).   Also, the 50-bar MA (hourly) is bullishly indicating above the 100-bar MA (hourly) and above the 200-bar MA (hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 18393.19 and the 50-bar MA (Hourly) at 19034.75.

Technical Support is expected around 16200/ 15996.17/ 15479.66 with Stops expected below.

Technical Resistance is expected around 19915.14/ 20311.36/ 21909.24 with Stops expected above.  

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.

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