{"id":107676,"date":"2021-01-07T15:39:08","date_gmt":"2021-01-07T15:39:08","guid":{"rendered":"https:\/\/precoinnews.com\/?p=107676"},"modified":"2021-01-07T15:39:08","modified_gmt":"2021-01-07T15:39:08","slug":"btc-usd-eyeing-40000-after-more-gains-sally-hos-technical-analysis-7-january-2021-btc","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/btc-usd-eyeing-40000-after-more-gains-sally-hos-technical-analysis-7-january-2021-btc\/","title":{"rendered":"BTC\/USD Eyeing 40000 After More Gains: Sally Ho’s Technical Analysis 7 January 2021 BTC"},"content":{"rendered":"
Bitcoin (BTC\/USD)<\/strong> established another all-time high <\/strong>early in today’s North American<\/strong> session as the pair appreciated<\/strong> to the 38500.00<\/strong> area after trading as low<\/strong> as the 36352.98<\/strong> area during the European<\/strong> session, with the intraday high<\/strong> representing a test<\/strong> of an upside price objective<\/strong> around the 38523.54 level<\/strong>. Stops <\/strong>were elected above<\/strong> the 35943.73<\/strong>, 36480.83<\/strong>, and 36854.45 levels<\/strong> during the ascent<\/strong>, upside price objectives<\/strong> related to previous buying pressure<\/strong> around the 17580<\/strong>, 16200<\/strong>, and 9819.83 levels<\/strong>. A recent relative all-time high<\/strong> represented a test<\/strong> of the 35943.73 level<\/strong>, an upside price objective<\/strong> related to buying pressure<\/strong> that also recently emerged around the 17580 <\/strong>area. Stops<\/strong> were recently elected above<\/strong> some upside price objectives<\/strong> today including 34446.27<\/strong>, 34603.65<\/strong>, and 34697.35<\/strong>, levels that are technically significant<\/strong> due to previous buying activity<\/strong> that also originated around the 17580<\/strong>, 21913.84<\/strong>, and 16200<\/strong> area. Additional upside price objectives<\/strong> include the 39033.37<\/strong>, 39247.05<\/strong>, 39656.27<\/strong>, 40411.19<\/strong>, 41200<\/strong>, 41267.10<\/strong>, 41489.74<\/strong>, 42701.91 levels<\/strong>. <\/p>\n Stops <\/strong>were elected below<\/strong> many retracement<\/strong> areas during the recent pullback lower<\/strong>, including the 32667.16<\/strong>, 31766.51<\/strong>, 31357.69<\/strong>, 30743.72<\/strong>, 30418.04<\/strong>, 30218.69<\/strong>, 29395.73<\/strong>, and 28258.75 levels<\/strong>. Following the pair’s recent moves to successive all-time highs<\/strong>, downside retracement levels<\/strong> and areas of potential technical support<\/strong> include the 35496.32<\/strong>, 34585.67<\/strong>, 33638.11<\/strong>, 33121.14<\/strong>, 32791.16<\/strong>, and 32164.09 levels<\/strong>. BTC\/USD<\/strong> traded up<\/strong> more than 44% <\/strong>in January<\/strong>, and closed<\/strong> 2020<\/strong> with a gain<\/strong> of approximately 292%<\/strong>. Traders are observing<\/strong> that the 50-bar MA (4-hourly)<\/strong> is bullishly indicating above<\/strong> the 100-bar MA (4-hourly)<\/strong> and above <\/strong>the 200-bar MA (4-hourly).<\/strong> Also, the 50-bar MA (hourly)<\/strong> is bullishly <\/strong>indicating above <\/strong>the 100-bar MA (hourly)<\/strong> and above <\/strong>the 200-bar MA (hourly)<\/strong>.<\/p>\n Price activity is nearest the 50-bar MA<\/strong> (4-hourly) at 32009.69 <\/strong>and the 50-bar MA<\/strong> (Hourly) at 35225.62<\/strong>.<\/p>\n Technical Support <\/strong>is expected around 33638.11\/ 33121.14\/ 32164.09 <\/strong>with Stops<\/strong> expected below.<\/p>\n Technical Resistance<\/strong> is expected around 39033.37\/ 39247.05\/ 40411.19 <\/strong>with Stops<\/strong> expected above. <\/p>\n On 4-Hourly<\/strong> chart, SlowK <\/strong>is Bullishly above SlowD<\/strong> while MACD<\/strong> is Bullishly above MACDAverage.<\/strong><\/p>\n On 60-minute<\/strong> chart, SlowK<\/strong> is Bullishly above SlowD<\/strong> while MACD<\/strong> is Bullishly above MACDAverage<\/strong>. <\/p>\n <\/p>\n Related TAGS: <\/p>\n You can share this post!<\/p>\n