Bitcoin

Bitcoin (BTC/USD) experienced increasing volatility early in the Asian session as the pair faded lower after peaking around the 28613.37 area, representing a near-perfect test of a downside price objective related to selling pressure around the 30222 and 29665 levels. Profit-taking pushed BTC/USD lower to the 27302.30 area following the multi-month high, and bears are anticipating additional consolidation. Stops were elected above many levels during the recent appreciationincluding the 27432, 27567, 27620, 27806, 27941, 28029, 28234, and 28404 areas. Additional upside price objectives include the 28769, 29151, and 29964 levels. Areas of technical resistanceand potential selling pressure include the 28614, 28769, 28934, 29228, 29665, 29964, 30053, and 30222 levels. Stops are cited above the 30178 and 31862 areas.Following the ongoing appreciation, areas of technical support and potential buying pressureinclude the 27241, 27124, 26944, 26699, 26577, 26522, 26274, 25749, and 25670 areas. Further below the market, Stops are accruing below some downside price objectives including the 24155, 23270, 23204, 23164, 22949, 22028, 21496, 21242, and 20702 areas. Three significant technical levels that technicians continue to monitor include the 29514, 23438, and 20195 levels, areas related to selling pressure around the 69000, 59249, and 52100 levels. 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 26858.49 and the 100-bar MA (Hourly) at 27347.17.Technical Support is expected around 24440.41/ 23270.10/ 22769.39 with Stops expected below.Technical Resistance is expected around 31986.16/ 32989.19/ 34658.69 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 Bullishly above SlowD while MACD is Bearishly below MACDAverage.Sally Ho’s Technical Analysis<a href="https://cryptodaily.co.uk/2023/10/bitcoin-price-analysis-bulls-absorb-stops-above-28404-3-october-2023" rel="noopener noreferrer nofollow">View Yesterday’s Trading Analysis</a>Disclaimer: Sally Ho’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.RELATED TOPICS: <a href="https://cryptodaily.co.uk/tag/btc-usd" rel="noopener noreferrer nofollow">#BTC/USD</a> <a href="https://cryptodaily.co.uk/tag/btcusd" rel="noopener noreferrer nofollow">#BTCUSD</a> <a href="https://cryptodaily.co.uk/tag/sally-ho" rel="noopener noreferrer nofollow">#SALLY HO</a> <a href="https://cryptodaily.co.uk/tag/btc" rel="noopener noreferrer nofollow">#BTC</a> <a href="https://cryptodaily.co.uk/tag/bitcoin" rel="noopener noreferrer nofollow">#BITCOIN</a> <a href="https://cryptodaily.co.uk/tag/breaking-news" rel="noopener noreferrer nofollow">#BREAKING NEWS</a> <a href="https://cryptodaily.co.uk/tag/spotlight" rel="noopener noreferrer nofollow">#SPOTLIGHT</a><a href="https://cryptodaily.co.uk/tag/trading-analysis" rel="noopener noreferrer nofollow">#TRADING ANALYSIS</a> <a href="https://cryptodaily.co.uk/tag/trading-analytics" rel="noopener noreferrer nofollow">#TRADING ANALYTICS</a> <a href="https://cryptodaily.co.uk/tag/analytics" rel="noopener noreferrer nofollow">#ANALYTICS</a> <a href="https://cryptodaily.co.uk/tag/technical-analysis" rel="noopener noreferrer nofollow">#TECHNICAL ANALYSIS</a><a href="https://cryptodaily.co.uk/2023/10/celsius-seeks-court-approval-to-start-customer-repayments" rel="noopener noreferrer nofollow">DON&#39;T MISS</a><a href="https://cryptodaily.co.uk/2023/10/celsius-seeks-court-approval-to-start-customer-repayments" rel="noopener noreferrer nofollow">Celsius Seeks Court Approval to Start Customer Repayments</a><a href="https://cryptodaily.co.uk/2023/10/introducing-ankr-liquid-staking-the-latest-in-defi-innovation" rel="noopener noreferrer nofollow">UP NEXT</a><a href="https://cryptodaily.co.uk/2023/10/introducing-ankr-liquid-staking-the-latest-in-defi-innovation" rel="noopener noreferrer nofollow">Introducing Ankr Liquid Staking, The Latest in DeFi Innovation</a>

Bitcoin Price Analysis: Volatility Returns After High Print – 4 October 2023

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