Bitcoin Price Analysis: BTC bulls have reasons to keep 24,000 on radar


  • BTC/USD defies pullback from 24,300, recently bid from 23, 110.
  • Bullish MACD, sustained break of key resistances favor bulls.
  • Sellers need to break 19,500 for fresh entry.

BTC/USD prints 1.0% intraday gains while flashing 23,695 as a quote during early Monday. In doing so, the crypto major reverses the pullback moves from the latest record high of 24,300 while bouncing off 23,110 off-late.

Although overbought RSI conditions warn bulls, a sustained upside break of the 2017 peak, as well as an upward sloping trend line from June 2019, keeps the pair buyers hopeful.

As a result, BTC/USD bulls might not hesitate to eye the 30,000 psychological magnet as an immediate target ahead of moving on to the more strong fundamental hints of the 100,000 landmark.

Read: Bitcoin price at $100,000 is overly conservative, says on-chain analyst Willy Woo

On the contrary, any further pullbacks may eye for the 20,000 round-figure. Though, sellers will remain cautious until witnessing a downside break of the 19,500 mark, comprising late-November tops.

Overall, the BTC/USD is up for a long northward journey but intermediate corrections can’t be ruled out.

BTC/USD daily chart

Trend: Bullish

Additional important levels

Overview
Today last price 23686.91
Today Daily Change 210.46
Today Daily Change % 0.90%
Today daily open 23476.45
 
Trends
Daily SMA20 19917.55
Daily SMA50 17971.99
Daily SMA100 14708.72
Daily SMA200 12501.79
 
Levels
Previous Daily High 24299.12
Previous Daily Low 23097.91
Previous Weekly High 23765.18
Previous Weekly Low 18725.2
Previous Monthly High 19864.5
Previous Monthly Low 13219.52
Daily Fibonacci 38.2% 23556.77
Daily Fibonacci 61.8% 23840.26
Daily Pivot Point S1 22949.86
Daily Pivot Point S2 22423.28
Daily Pivot Point S3 21748.65
Daily Pivot Point R1 24151.07
Daily Pivot Point R2 24825.7
Daily Pivot Point R3 25352.29

 

 

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