February 25, 2024

Bitcoin (BTC/USD) remained confined in a related narrow range early it Asian session as a couple in orbit The 23164.73 area, representing the 23.6% reversal from estimating the range from 20723.01 to 24674.01. Some recently buying pressure emerged around the 22755.80 area before BTC/USD met selling pressure around 200 hour simple moving average. Some It stops was recently which is elected below The 22501.07 area when moving the couple lower in his own weaker appear at many trading meetings, representing the 50% reversal from amortization range from 24287.13 to 20715. BTC/USD was in defensive from the beginning of the following August Gains of 15.3% in July and one 66.7% withdrawal until the end of July. The recent move higher in the 24666 area was a test from 24558.33 levelwhich represents the 50% reversal from amortization range from 31549.21 to 17567.45.

Additional upward reset levels in this amortization range include the 26208, 28249and 28557 regions. Additional bullish price targets and potential areas sales pressures include the 25552, 26323, 26411, 26901, 27126, 27455, 28426, and 29669 regions. Below recent price activity, likely technical assistance and its regions buying pressure include the, 22582, 22141, 21596, 20446, 19852and 19762 levels. Additional important technique areas in disadvantage include the 16990.14, 14500.15and 10432.73 regions. Traders note that the 50-bar MA (4 hours) is pointing upwards above The 100 bar MA (4 hours) and over The 200-bar MA (4 hours). Also the 50-bar MA (hourly) is boring indicating below The 100-bar MA (hourly) and below The 200-bar MA (hourly).

Price action is closer to 50-bar MA (4 hours) at 22323.22 and 100-bar MA (Hourly) at 23046.93.

Technical assistance expected around 16990.14/ 14500.15/ 10432.73 with It stops expected below.

Technical Resistance expected around 25256.96/ 27455.20/ 32383.96 with It stops expected above.

On 4 hours chart, SlowK is Drops below SlowD while MACD is Bullish above the MACDA average.

On 60 minutes chart, SlowK is Drops below SlowD while MACD is Bearish below the MACDA average.

Disclaimer: This trading analysis is provided by a third party and is 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.

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