July technical bias position by BTC / USD: Technical Analysis by Sally Ho on July 31, 2021 BTC

Bitcoin (BTC/USD) maintained a positive technical bias early in the Asian session as it sought to contribute to the recent rise following recent twists around the psychologically important 40000 figure.   December July’s recent pressures on messages and recipients have passed some tests and could rise to 40638.92, a 78.6% return from the range of increases from 37371.35 to 52640.35.  Fix it up to levels including prices recently stops and not as a series of levels, 34795, 36209,92, 37960.36 38224,14 recent trading ranges at the top and some extra levels up, including a fix 40247, 40790, 41064, 41132, and 41509. 

Traders observed how BTC / USD performed in the 38236.16 region, where the depreciation correction of 23.6% ranged from 64899 to 30000 Dec.  After rising to multi-week highs, price correction levels include 39770, 37300.26, 35772.37, 34537.50, 33302.63, and 31774,74.  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 34495.44 and the 50 bar average (hours) at 38542.73.

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.

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