Bitcoin (BTC) Price Analysis: Technicals Gain Importance During Pullback – November 29, 2023
Bitcoin (BTC/USD) remained at the defensive early in the Asian session when the couple found more selling pressure about 37346.16 area, which represents a proof of the 50% recoil of the recent range of appreciation of 36241 to 38454.Buying pressure arose around 36715.10 area before offspringrepresenting a proof of the 78.6% retracement Of the same range of appreciation.He 36259.61 is a Major downward price target related to these levelswith Stops aforementioned below.Stops were chosen below he 37218 and 36837 levels during the go back down, downward price targets related to recent selling pressure about 37761.93 additional area downward price targets include the 36705, 36528, 36455, 36259, 36164, 36122, 35983, 35624and 35220 levels.
After the recent appreciationareas of technical support and potential buying pressure include the 33499, 32873, 32561, 31351and 30837 levels.Above the market, significant technical levels Linked with historical selling pressure about 69000 and 48240 areas include the 40503, 41225and 42230 levels.tReaders are observing that the MA of 50 bars (every 4 hours) is indicating bullish up he MA of 100 bars (every 4 hours) and above he MA of 200 bar (every 4 hours).He too MA of 50 bars (per hour) is bass guitarist indicating below he100-bar MA (per hour) and above he 200-bar MA (per hour).
Price activity is closest to 50 bar MA (every 4 hours) in 37239.33 and the MA of 200 bars (Every hour) at 37216.77.
Technical support is expected around 31238.97/ 30028.62/ 28818.26 with Stops expected below.
Technical Resistance is expected around 38584.16/ 39596.82/ 42721.31 with Stops expected above.
In 4 hours chart, slowok is Bullish above SlowD while MACD is Bearish below the MACDA average.
In 60 minutes chart, slowok is Bullish above SlowD while MACD is Bullish above MACDA average.
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