BTC/USD Peaks Around 36457: Technical Analysis by Sally Ho June 20, 2021 BTC

Bitcoin (BTC/USD) rallied towards 35875.59 after falling as low as 35214.76 during the European session, rising earlier in today's Asian session and recently represents a test of 34833.26 to 38.2. % retraction of the depreciation range from 37325 to 33333. Traders pushed BTC/USD as high as the 36457.18 area during the European session before selling pressure set in, this level represents a test of 50% retracement of the 30000 to 42990 valuation range, which is a recent psychological rally to multi-week highs. The stops were selected over the 40000 and 41000 numbers, which are important as Traders see the 41304.22 level as potential technical resistance, representing a 38.2% retracement of the recent depreciation range between 59592.20 and 30000. Zones 51375, 51245, 50527, 51375, 51245, 50527, 48478, 47698, 47136, 41581, 40303, and 39604. The upward retracement levels and potential areas of technical resistance are the 41304, 43331, 44796, 47449, 48287 and 51567 levels. Potential technical support areas include 29156, 28747, 28387, 27706, 27317, 27175, 26621 and 26249. Traders note that the 50-bar (4-hour) MA is bullish above the 100-bar (4-hours) MA and above the 200-bar (4-hours) MA. Also, the 50 bar (per hour) MA gives bearish indication below the 100 bar (hours) MA and below the 200 bar (hours) MA. Price activity is closest to the 100 bar (4-hours) MA at 36970.18 and the 50 bar MA (on the hour) at 36738.70. Technical support is expected around 29156/28747.28/27706.27 with pauses expected below. Technical resistance is expected around 46000/51569.56/64899 with expected stops above. On the 4-hour chart, SlowK is bullish above SlowD, while MACD is bearish below the MACDA average. On the 60-minute chart, SlowK is bearish below SlowD while MACD is bullish

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