Bitcoin (BTC/USD) kept a positive trend in the Asian session, staying above the 42230 area, marking the midpoint of the fall from its all-time high at 69000 $ to 15460 $ .
Bulls pushed BTC/USD to 43333.35, testing an upward price target linked to buying strength around 25983.78. Recent activity near 42575 tested the halfway point of the downward movement from 45000 to 40150. The recent high at 45000 was a test of the 45278.22 level, connected to previous upward moves around 3858. Above the market, upward targets stand at 46105, 46487, and 49161 levels.
Downside risks persist, with targets around 40185 and 38773. Recent selling pressure near 44754 and 44049 led to Stops below 41458.35, a downside target. Support zones are at 38998, 38028, 37321, and 35285 levels. Technical indicators show the 50-bar MA (4-hourly) below the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly). The 50-bar MA (hourly) is above the 100-bar MA (hourly) and the 200-bar MA (hourly).
Currently, BTC/USD is near the 100-bar MA (4-hourly) at 42873.93 and the 50-bar MA (Hourly) at 43751.87. Anticipated support levels are at 37392.45, 36720.55, and 35633.00 with expected resistance around 46487.10, 47108.16, and 48240.00.
The 4-hourly chart indicates Bullish SlowK above SlowD and Bearish MACD below MACDAverage. On the 60-minute chart, SlowK is Bullishly above SlowD, and MACD is Bullishly above MACDAverage.
