BTC/USD To Test 30000 in New Year? Sally Ho’s Technical Analysis 1 January 2021 BTC

Bitcoin (BTC/USD) extended recent gains early in today’s North American session as the pair appreciated to the 29688.88 area after trading as low as the 28751.82 area during the Asian session, with the intraday high representing a fresh lifetime high.  Traders are curious to see if the pair will challenge the psychologically-important 30000 figureStops were recently elected above the 29119.99 area, an upside price objective related to buying pressure that emerged around the 3858 area earlier this year.  Stops were previously triggered above the 27079.7827388.2827769.99, and 28387 levels during the pair’s ascent.  Some bullish clues emerged after BTC/USD was supported above the 25667.32 area during recent pullbacks, a previous upside price objective related to buying pressure that emerged earlier this year around the 3858 area.  Additional upside price objectives include the 30456.39 and 31424.78 areas. 

Following the pair’s recent moves to successive all-time highsdownside retracement levels and areas of potential technical support include the 28764.8328192.8427853.9727730.72, and 27268.59 areas. BTC/USDtraded up more than 44% in January, and closed 2020 with a gain of approximately 292%.  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 26713.37 and the 50-bar MA (Hourly) at 28923.04.

Technical Support is expected around 25914.25/ 25510.87/ 24386.59 with Stops expected below.

Technical Resistance is expected around 29688.88/ 30456.39/ 31424.78 with Stops expected above.  

On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.

On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.                                                                                                                                                   

Title: BTC/USD To Test 30000 in New Year? Sally Ho’s Technical Analysis 1 January 2021 BTC
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Published Date: Fri, 01 Jan 2021 18:23:23 +0000

Jeannine Cruz

Jeannine Cruz– Earnings I am known as Jeannine Cruz, I am a writer and an industrialist by profession. My age is 32 years. My aim is to gather the attention of the targeted audience without being boring and unexciting. I like to utilize the free time in writing my views and thoughts for my book lovers or readers. My most preferred articles are usually about finance and business; however, I have written various topics in my articles. I do not have a specific genre. I get very creative when I have to express myself, I often sing, write or draw to portray my feelings. When it comes to my free time or you can say ‘ME-TIME’, I love to play with my cat, sleep an extra hour, or play my favorite video games.

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