BTC/USD Delivered Many Gifts In 2020: Technical Analysis 25 December 2020 BTC

Bitcoin (BTC/USD) continues to remain in position to challenge recent lifetime highs with bids that could propel the pair back above the psychologically-important 24000 figure.   Traders have recently taken BTC/USD back below the 23000 figure but technical bids have kept the pair’s downside range limited. Traders are curious to see how BTC/USD trades through the holiday period and finishes the calendar year.  BTC/USD has recently traded up more than 18% month-to-date, and traded up more than 221% year-to-date.  The pair’s recently-established lifetime high around the 24300 area has traders focusing on some key retracement levels including the 22195.9421865.9621607.5421144.0020957.1120882.6818889.0518768.5817217.6117059.92, and 15546.17 levels

If BTC/USD resumes recent upward buying pressure, additional upside price objectives include the 24374.7324758.0524862.2825171.61, and 25373.10 areas.   Other levels that are technically significant include a range of upside price objectives above which Stops were elected during the recent appreciation, and these include the 23650.1923693.2923779.5824080.75, and 24179.17 levels.  Traders 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 22965.53 and the 100-bar MA (Hourly) at 23336.10.

Technical Support is expected around 21971.13/ 21409.71/ 20678.47 with Stops expected below.

Technical Resistance is expected around 24374.73/ 24758.05/ 25171.61 with Stops expected above.  

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

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

Be the first to comment

Leave a Reply

Your email address will not be published.