Bitcoin

BTC/USD Extends Upward Push:&nbsp; Sally Ho&rsquo;s Technical Analysis &ndash; 27 March 2023
Bitcoin (BTC/USD) extended its upward trajectory early in the Asian session as the pair reached the 28009.16 level after Stops were elected above the 27933.78 level, representing a test of the 50% retracement of the recent depreciating range from 28839.68 to 27027.88.&nbsp; Additional upside retracement levels in this depreciating range include the 28147.57, 28412.10, and 28451.95.&nbsp; &nbsp;During the recent pullback, Stops were elected below the 27252.39 area, a downside price objective related to selling pressure around the 28839.68 and 28500 levels.&nbsp; Technical trading activity was also evident when BTC/USD was supported around the 26678.16 level during the depreciation, a test of the 23.6% retracement of the recent appreciating range from 19568.52 to 28937.73. &nbsp;
Following the recent appreciation, upside price objectives include the 29244.66, 29639.37, 30127.80, 30275.12, 30763.09, and 31477.37 levels.&nbsp; &nbsp;Following the ongoing appreciation, retracement levels and areas of potential technical support include the 25948, 25756, 25358, 24253, 24099, 23789, 23147, 22605, and 22198 levels. &nbsp;Below current price activity, downside price objectives include the 19266, 19132, 19106, 19006, 18981, 18919, 18822, 18116, 17720, 17523, 17457, 17230, and 17196 areas.&nbsp; Traders are&nbsp;observing&nbsp;that the&nbsp;50-bar MA (4-hourly)&nbsp;is&nbsp;bullishly indicating above the 100-bar MA (4-hourly)&nbsp;and&nbsp;above the&nbsp;200-bar MA (4-hourly).&nbsp; Also, the 50-bar MA (hourly) is bearishly indicating below the 100-bar MA (hourly) and above the 200-bar MA (hourly).
Price activity is nearest the&nbsp;50-bar MA&nbsp;(4-hourly) at 27766.77 and the&nbsp;100-bar MA&nbsp;(Hourly) at 27881.53.
&nbsp;
Technical Support&nbsp;is expected around&nbsp;25256.83/ 24224.60/ 21753.70 with&nbsp;Stops&nbsp;expected below.
Technical Resistance&nbsp;is expected around&nbsp;29244.66/ 29639.37/ 30127.80 with&nbsp;Stops&nbsp;expected above.&nbsp;&nbsp;
On&nbsp;4-Hourly&nbsp;chart,&nbsp;SlowK&nbsp;is Bullishly above SlowD&nbsp;while&nbsp;MACD&nbsp;is Bearishly below MACDAverage.
On&nbsp;60-minute&nbsp;chart,&nbsp;SlowK&nbsp;is Bullishly above SlowD&nbsp;while&nbsp;MACD&nbsp;is&nbsp;Bullishly above MACDAverage.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
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Disclaimer: Sally Ho&rsquo;s Technical Analysis is provided by a third party, and for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

Bitcoin Price Analysis: Bulls Eyeing 28451 - 27 March 2023

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