Bitcoin

Bitcoin (BTC/USD) encountered light upward momentum early in the Asian session as the pair partially recovered after trading as low as the 33400 area, representing a test of the 78.6% retracement of the appreciating range from 33000 to 35144. Stops were elected belowthe 33737.64 area during the preceding downturn, a downside price objective technically associated with selling pressure around the 34843.04 area. Stops were recently elected above a series of upside price objectives including the 33819, 33755, 34826, and 35035 levels, and major Stops were also elected above the 34190.77 area during the appreciation, a previous downside price objective related to historical selling pressure around the all-time high of 69000 and 59249 levels.Technically, the fresh multi-month high around the 35157 area represented a test of an upside price objective around the 35035 area that is related to recent upward activity around the 29328 and 32525 levels. Additional upside price objectives include the 35718, 35982, 36115, 36541, 36798, 37239, 37890, 38409, 38561, 38584, 39636, 40549, 40743, 40837, 41402, 43841, 43860, and 44269 levels. Following the surge higher, areas of technical support and potential buying pressure include the 32992, 31652, 31238, 30570, 30028, and 29488 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 bearishly indicating below the 100-bar MA (hourly) and above the 200-bar MA (hourly).Price activity is nearest the 50-bar MA (4-hourly) at 32255.27 and the 100-bar MA (Hourly) at 34182.03.Technical Support is expected around 31238.97/ 30028.62/ 28818.26 with Stops expected below.Technical Resistance is expected around 36541.57/ 37239.15/ 38584.16 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 Bullishly above SlowD while MACD is Bullishly above MACDAverage.Sally Ho’s Technical Analysis<a href="https://cryptodaily.co.uk/2023/10/bitcoin-btc-price-analysis-moderation-continues-around-33819-28-october-2023" rel="noopener noreferrer nofollow">View Yesterday’s Trading Analysis</a>Disclaimer: Sally Ho’s Technical 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.RELATED TOPICS: <a href="https://cryptodaily.co.uk/tag/sally-ho" rel="noopener noreferrer nofollow">#SALLY HO</a> <a href="https://cryptodaily.co.uk/tag/btcusd" rel="noopener noreferrer nofollow">#BTCUSD</a> <a href="https://cryptodaily.co.uk/tag/btc-usd" rel="noopener noreferrer nofollow">#BTC/USD</a> <a href="https://cryptodaily.co.uk/tag/btc" rel="noopener noreferrer nofollow">#BTC</a> <a href="https://cryptodaily.co.uk/tag/bitcoin" rel="noopener noreferrer nofollow">#BITCOIN</a> <a href="https://cryptodaily.co.uk/tag/trading" rel="noopener noreferrer nofollow">#TRADING</a><a href="https://cryptodaily.co.uk/tag/trading-analysis" rel="noopener noreferrer nofollow">#TRADING ANALYSIS</a> <a href="https://cryptodaily.co.uk/tag/trading-analytics" rel="noopener noreferrer nofollow">#TRADING ANALYTICS</a> <a href="https://cryptodaily.co.uk/tag/analytics" rel="noopener noreferrer nofollow">#ANALYTICS</a> <a href="https://cryptodaily.co.uk/tag/technical-analysis" rel="noopener noreferrer nofollow">#TECHNICAL ANALYSIS</a><a href="https://cryptodaily.co.uk/tag/breaking-news" rel="noopener noreferrer nofollow">#BREAKING NEWS</a> <a href="https://cryptodaily.co.uk/tag/spotlight" rel="noopener noreferrer nofollow">#SPOTLIGHT</a><a href="https://cryptodaily.co.uk/2023/10/crypto-mom-bemoans-sec-scorched-earth-approach-to-lbry-crypto-token" rel="noopener noreferrer nofollow">DON&#39;T MISS</a><a href="https://cryptodaily.co.uk/2023/10/crypto-mom-bemoans-sec-scorched-earth-approach-to-lbry-crypto-token" rel="noopener noreferrer nofollow">Crypto Mom bemoans SEC scorched earth approach to LBRY crypto token</a><a href="https://cryptodaily.co.uk/2023/10/dydx-dydx-price-analysis-dydx-chain-to-distribute-all-fees-to-stakers-and-validators" rel="noopener noreferrer nofollow">UP NEXT</a><a href="https://cryptodaily.co.uk/2023/10/dydx-dydx-price-analysis-dydx-chain-to-distribute-all-fees-to-stakers-and-validators" rel="noopener noreferrer nofollow">dYdX (DYDX) Price Analysis: dYdX Chain To Distribute All Fees To Stakers And Validators</a><img src="https://academy-public.coinmarketcap.com/optimized-uploads/335aaf56e5af405191267010a7f2645e.jpeg" />

Bitcoin (BTC) Price Analysis: Bounce From 33400 – 29 October 2023

Crypto Daily™

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