BTC/USD Bulls Eyeing 11000 Again: Sally Ho’s Technical Analysis 29 September 2020 BTC

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BTC/USD Bulls Eyeing 11000 Again: Sally Ho's Technical Analysis 29 September 2020 BTC
Sally Ho – bar chart

Bitcoin (BTC/USD) kept up its later upward predisposition early in today’s Asian session as the match kept on approach the psychologically-important 11000 figure taking after buying pressure that risen around the 10832.46 area amid yesterday’s North American session, just over the 10826.66 area that represents the 61.8% retracement of the verifiable increasing in value extend from 8940.14 to 13878.67. Dealers pushed BTC/USD as tall as the 10956.11 area during yesterday’s Asian session, right around the 76.4% retracement of the devaluing range from 11179.90 to 10135.22. Chartists are watching that the 100-bar 4-hourly straightforward moving average has bearishly crossed over the 50-bar 4-hourly basic moving normal, and the 100-hour straightforward moving normal has bullishly crossed over the 200-hour straightforward moving average. Dealers will closely screen cost movement around a few in fact critical levels counting the 10562.09, 10580.50, and 10550.58 zones. Dealers moreover as of late watched an acce

Stops were as of late chosen underneath the 11120, 11004.10, 10961.41, 10647.72, 10546.15, and 10450.26 areas amid the later devaluation from later multi-week highs. Dealers note that the later tall of 12486.61 spoken to a test of the 12496.68 range, an upside cost objective related to buying pressure that risen around the 8055.91 zone prior this year. Dealers moreover stay centered on the 12023.45, 11964.56, 11880.38, 11803.31, 11737.30, 11642.95, 11560.28, and 11533.51 areas amid pullbacks higher, speaking to the retracements of the later increasing in value ranges that commenced around the 9005.00, 8905.84, 8815.01, and 8632.93 areas. Other vital specialized levels incorporate the 11510.44 area, speaking to the 50% retracement of a verifiable deterioration from 19891.99 to 3128.89, as well as the 10200.39, 10139.11, and 10082.97 regions. Chartists are watching that the 50-bar MA (4-hourly) is bearishly demonstrating underneath the 200-bar MA (4-hourly) and underneath the 100-bar MA (4-hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 10657.99 and the 50-bar MA (Hourly) at 10704.75.

Technical Support is expected around 10135.22/ 9816.32/ 9861.42 with Stops expected below.

Technical Resistance is expected around 11179.90/ 11496.70/ 11601.04 with Stops expected above.  

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.

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