Bitcoin (BTC/USD) remains bid around the psychologically-important 24000 figure in holiday-driven trade that has traders wondering if the pair will work to establish new lifetime highs. 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 24770.95 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 24758.0524862.2825171.61, 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 24179.17levels. 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 24758.05/ 24862.28/ 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.
Title: Focus Back on BTC/USD’s Upside Post-Holidays: Sally Ho’s Technical Analysis 26 December 2020 BTC
Sourced From: cryptodaily.co.uk/2020/12/focus-back-on-btc-usd-upside-post-holidays-sally-ho-technical-analysis-26-december-2020-btc-bitcoin
Published Date: Sat, 26 Dec 2020 18:04:59 +0000
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