- BTC/USD keeps bounce off 22,378, takes the bids above 23,700.
- Sustained bounce off one-week-old horizontal support, MACD conditions favor buyers.
- Sellers need to confirm short-term rising wedge for entries.
BTC/USD rises to 23,733 during the early Wednesday’s trading. In doing so, the crypto major extends gains from a horizontal area comprising multiple lows since December 07, marked the previous day.
Also supporting the BTC/USD bulls is the MACD histogram that shows the receding strength of the bearish signals.
As a result, the quote is all geared up to challenge the recently refreshed all-time high of 24,299.12. However, the 24,000 round-figure can offer an intermediate halt during the rise.
In a case where the BTC/USD buyers keep the reins past-24,300, the upper line of stated rising wedge bearish formation, at 25,000 now, will be the key.
Meanwhile, a downside break of the immediate horizontal area near 22,300/270 will direct the BTC/USD sellers towards confirming the bearish chart pattern by targeting a downside break of 21,710 support.
chartFollowing that, the crypto pair may not hesitate to test a 200-bar SMA level of 19,477 during the theoretical target of around 15,000.
BTC/USD four-hour chart
Trend: Bullish
Additional important levels
| Overview | |
|---|---|
| Today last price | 23828.92 |
| Today Daily Change | 0.00 |
| Today Daily Change % | 0.00% |
| Today daily open | 23828.92 |
| Trends | |
|---|---|
| Daily SMA20 | 20344.99 |
| Daily SMA50 | 18356.48 |
| Daily SMA100 | 14966.48 |
| Daily SMA200 | 12637.54 |
| Overview | |
|---|---|
| Today last price | 23828.92 |
| Today Daily Change | 0.00 |
| Today Daily Change % | 0.00% |
| Today daily open | 23828.92 |
| Trends | |
|---|---|
| Daily SMA20 | 20344.99 |
| Daily SMA50 | 18356.48 |
| Daily SMA100 | 14966.48 |
| Daily SMA200 | 12637.54 |
| Levels | |
|---|---|
| Previous Daily High | 23840.76 |
| Previous Daily Low | 22378.45 |
| Previous Weekly High | 23765.18 |
| Previous Weekly Low | 18725.2 |
| Previous Monthly High | 19864.5 |
| Previous Monthly Low | 13219.52 |
| Daily Fibonacci 38.2% | 23282.16 |
| Daily Fibonacci 61.8% | 22937.05 |
| Daily Pivot Point S1 | 22858 |
| Daily Pivot Point S2 | 21887.07 |
| Daily Pivot Point S3 | 21395.69 |
| Daily Pivot Point R1 | 24320.31 |
| Daily Pivot Point R2 | 24811.69 |
| Daily Pivot Point R3 | 25782.62 |
| Levels | |
|---|---|
| Previous Daily High | 23840.76 |
| Previous Daily Low | 22378.45 |
| Previous Weekly High | 23765.18 |
| Previous Weekly Low | 18725.2 |
| Previous Monthly High | 19864.5 |
| Previous Monthly Low | 13219.52 |
| Daily Fibonacci 38.2% | 23282.16 |
| Daily Fibonacci 61.8% | 22937.05 |
| Daily Pivot Point S1 | 22858 |
| Daily Pivot Point S2 | 21887.07 |
| Daily Pivot Point S3 | 21395.69 |
| Daily Pivot Point R1 | 24320.31 |
| Daily Pivot Point R2 | 24811.69 |
| Daily Pivot Point R3 | 25782.62 |
From: FXSTREET
