Introduction: In the ever-volatile world of cryptocurrencies Bitcoin (BTC/USD) has once again caught the attention of traders and investors.for more details read more :binanceintraday.tech/ This article delves into the recent technical analysis of Bitcoin, providing valuable insights into its price movements and potential future directions. Understanding the Technical Landscape: Price Recovery Amidst Key Levels: Bitcoin saw a light upward momentum during the Asian trading session with the pair recovering partially from a recent dip that took it as low as the 33,400 area. This dip represented a test of the 78.6% retracement level of the appreciating range from 33,000 to 35,144. It’s important to note that stops were elected below the 33,737.64 area during the preceding downturn, signaling a downside price objective associated with selling pressure around the 34,843.04 area. Bitcoin Technical Analysis Bitcoin Technical Analysis Upside Price Objectives: Conversely, stops were recently elected above several upside price objectives, including the 33,819, 33,755, 34,826 and 35,035 levels. Major stops were also triggered above the 34,190.77 area during the appreciation. which was a previous downside price objective related to historical selling pressure around Bitcoin’s all-time high of 69,000 and 59,249 levels. Fresh Multi-Month High: Bitcoin reached a fresh multi-month high around the 35,157 area. which represented a test of an upside price objective around the 35,035 area, linked to recent upward activity around the 29,328 and 32,525 levels. Potential Upside Targets: Beyond the current levels, additional upside price objectives include 35,718, 35,982, 36,115, 36,541, 36,798, 37,239, 37,890, 38,409, 38,561, 38,584, 39,636, 40,549, 40,743, 40,837, 41,402, 43,841, 43,860, and 44,269 levels. Technical Support and Buying Pressure: Following the recent surge, areas of technical support and potential buying pressure include the 32,992, 31,652, 31,238, 30,570, 30,028, and 29,488 levels. Moving Averages: Technical analysis also highlights the positioning of moving averages. The 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly). In contrast, the 50-bar MA (hourly) is bearishly indicating below the 100-bar MA (hourly) but above the 200-bar MA (hourly). Bitcoin Price Activity and Key Averages: Currently, price activity is closest to the 50-bar MA (4-hourly) at 32,255.27 and the 100-bar MA (hourly) at 34,182.03. Support and Resistance Levels: Technical support is anticipated around 31,238.97, 30,028.62, and 28,818.26, with stops expected below. Conversely, technical resistance is expected around 36,541.57, 37,239.15, and 38,584.16, with stops expected above. MACD and SlowK Indicators: On the 4-hourly chart, SlowK is bullishly above SlowD, while MACD is bearishly below MACDAverage. On the 60-minute chart, SlowK is bullishly above SlowD, while MACD is bullishly above MACDAverage. Disclaimer: It’s essential to note that this technical analysis is provided by a third party, and it’s intended for informational purposes only. It does not necessarily reflect the views of Crypto Daily and should not be considered as legal, tax, investment, or financial advice. Conclusion: Bitcoin’s technical analysis offers a comprehensive view of its recent price movements, support and resistance levels and potential future targets. As the cryptocurrency market continues to evolve, staying informed about such technical indicators becomes essential for traders and investors. While this analysis provides valuable insights. it’s crucial to consult with financial experts and conduct thorough research before making any investment decisions.