Published
2 years ago on
September 13, 2021
Bitcoin (BTC/USD) was volatile early in the Asian session as the pair gained ground to the 44639.85 level after trading as low as the 43465 area during the North American session. Traders quickly lifted BTC/USD to the 46900 level during the North American session before it collapsed to interday lows around the 43465 area, its weakest print after a recovery following a recent low print of 42830.77 that resulted after last week’s acute sell-off from the 52944.96 area. Stops were elected below the 43909.11 and 43808.59 areas during yesterday’s sell-off, representing the 76.4% and 78.6% retracements of the appreciating range from 42830.77 to 47400.
Following the recent acute depreciation, retracement areas include the 46694, 47887, 49081, 50558, and 50780 levels. Additional downside price objectives and areas of potential technical support include the 40360 and 32576 levels. Traders are observing that the 50-bar MA (4-hourly) is bearishly indicating below the 100-bar MA (4-hourly) and below the 200-bar MA (4-hourly). Also, the 50-bar MA (hourly) is bearishly indicating below the 100-bar MA (hourly) and below the 200-bar MA (hourly).
Price activity is nearest the 50-bar MA (4-hourly) at 47197.35 and the 50-bar MA (Hourly) at 45279.85.
Technical Support is expected around 42405.29/ 39903.28/ 37401.27 with Stops expected below.
Technical Resistance is expected around 53025.00/ 54088.38/ 55841.04 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 Bullishly above SlowD while MACD is Bearishly below MACDAverage.
Disclaimer: This trading analysis is provided by a third party, and for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
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