BTC / USD looks to further growth: Technical Analysis by Sally Ho August 3, 2021 BTC

Bitcoin (BTC / USD) continued its offensive at the start of the Asian session as the pair worked to sustain recent growth that saw strong buying activity above the 41000 mark.  Traders ‘ demand for BTC / USD showed the pair grew by 18.5% last month and more than 43% year-on-year.  The stops were recently picked up during the rise to multi-week highs above 42311.77, an area that represents a 50% correction of the fall December from 58359.53 to 26264.  The latest buying pressure was also around 38182.30, representing a 23.6% decline in the latest December increase from 29301.56 to 40925.56. 

In October, October, in addition to the final domains and additional levels of reverse correction to be included in the 43016, 43549.50, 44017.07, 44336.95, and 45708.51 domains.  After rising to multi-week highs, price correction levels are down and include 39319.93, 37405.42, 35858.09, 34310,75 and 32396.24.  Traders note that the 50-bar average (4 hours) is rising above the 100-bar average (4 hours) and above the 200-bar average (4 hours).   In addition, it indicates that the 200 bar average (per hour) is above the 100 bar average (per hour) and the 200 bar average (per hour) at October.

Price activity is closest to the 50 bar average (4 hours) at 37707,25 and the 50 bar average (hours) at 40284,27.

Technical support expected in the region 28747.28/ 27706.27/ 27175.66 you’d expect that to happen with the stops below.

Technical resistance expected to be close 46000/ 51569.56/ 64899 with stops expected above.  

On the 4-hour chart, SlowK declines below slow, while the MACD rises above the Macda average.

On the 60-minute chart, SlowK is below the slow one, while MACD is below the Macda average.                                                                                                                                               

 

DISCLAIMER: This trade analysis is provided by a third party and is for informational purposes only. This crypto does not reflect everyday opinion and is not intended for use

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