During the Asian trading day, Bitcoin (BTC/USD) kept lingering over 47K, with purchasing activity sustained over the 46712.32 area (the 23.6 percent Fibonacci retracement of the increasing area from 41766.79 to 48240), which is a crucial support level for the market. This purchasing action is also over the 46415.48 level, marking the 23.6 percent retracement of the recent gaining pattern from 40509 to 48240.
BTC/USD TA for 1st April
A few minimal stops were set in recent times underneath the 46712.32 area, where the 23.6 percent correction from 41766.79 to 48240 was retraced after the latest high this year. However, in the process of acute advance, Strong Stops were placed over the 46710.80, 47076.55, 47726.76, and 48135.51 marks, upward Fibonacci retracement threshold associated with selling pressure that grew stronger near the 69K, 52.1K, and 57670.68 thresholds.
Additionally, the 48574, 49774, 50362, 50636, and 50966 Fibonacci retracement thresholds are being keenly monitored by traders. After the latest rise in prices, technical assistance and purchasing pressure could come from the 45625, 45003, 44008, 43001, and 42700 regions. People might have trouble selling at the 50966, 55222, 60488, and 61281 thresholds because of technical reasons. A bullish 50-bar moving average (four-hourly) is above the 100-bar moving average and over the 200-bar moving average by traders (four-hourly). Even the 50-bar MA (hr) is bullish, which means it is above the 100-bar moving average (hr) and over the 200-bar moving average (hr).
Technical Indications
The closest 50-bar moving averages (four-hourly) and 50-bar moving averages (Hrly) are found at 45203.02 and 47400.97, respectively.
Technical Support is anticipated near 45003.50, 43001.25, and 41383.00, with Stops, anticipated beneath.
Stops are anticipated over 48574.70, 50966.67, and 51595.38, where the technical barrier is likely.
SlowK is over SlowD on the four-hour chart, but moving average convergence divergence is underneath MACDAverage.
SlowK is over SlowD on a sixty-minute chart, and moving average convergence divergence is over MACDAverage, a sign of strength.