The weekly and daily charts are giving bullish signals with price holding above important demand zones on lower timeframes. A break above the weekly resistance could see a move higher towards the supply zones in the coming weeks. Upside seems favored based on the current technical setup.
bitcoin is currently trading within a major support zone between 45,400-32260.00. There is significant resistance above at 45,400 and then 59,998. The price is currently towards the lower half of this support zone, suggesting potential for a bounce. Looking at the demand zones, there is good support in the 30,379-29,889 zone.
Support and Resistance Levels
Support Zone 1
32259.90
Support Zone 2
24309.38
Support Zone 3
17622.00
Resistance Zone 1
45400.00
Resistance Zone 2
59998.80
Fibonacci Retracement Levels
0.382
37149.89
0.50
34128.15
0.618
32468.85
0.69
31037.23
0.786
29140.98
0.882
27237.39
Supply Zone
Zone Number
High
Low
Supply Zone 1
53256.64
59444.00
Supply Zone 2
62278.00
69000.00
Demand Zone
Zone Number
High
Low
Demand Zone 1
30379.99
29889.14
Demand Zone 2
27987.93
26538.66
Fair Value Gaps / Imbalances
Gap Number
High
Low
Bullish FVG / Imbalance Zone 1
38414.00
39972.26
Bullish FVG / Imbalance Zone 2
34025.00
30379.99
Bullish FVG / Imbalance Zone 3
29883.60
27987.93
Bearish FVG / Imbalance Zone 1
53256.64
52088.00
Bearish FVG / Imbalance Zone 2
62278.00
59444.00
Daily Timeframe
We can see BTC is finding support at the 44073 level. Below that, support is at 41300. Resistance is seen at 45400 from the weekly analysis. The price is currently positioned above the 37500-38146 demand zone. MACD is bullish.
Support and Resistance Levels
Support Zone #1
44073.32
Support Zone #2
41300.00
Fibonacci Retracement Levels
0.382
40902.21
0.50
39755.45
0.618
38573.68
0.786
36904.53
0.882
35965.27
Demand Zone
Zone Number
High
Low
Demand Zone #1
37500.00
38145.85
Fair Value Gaps / Imbalances
Gap Number
High
Low
Bullish FVG #1
38145.85
39972.26
4 Hour Timeframe
BTC finds support at 43550-43362 demand zone. Below that is 42899-42056. Resistance is seen at the fib levels of 43989-41814. Price is currently placed above the demand zone. MACD is giving a bullish signal.
Fibonacci Retracement Levels
0.382
43989.65
0.50
43474.88
0.618
42958.12
0.786
42226.26
0.882
41813.860
Demand Zone
Zone Number
High
Low
Demand Zone 1
43550.00
43361.60
Demand Zone 2
42899.00
42056.00
Fair Value Gaps / Imbalances
Gap Number
High
Low
Bullish FVG / Imbalance Zone 1
44184.10
45121.96
Bullish FVG / Imbalance Zone 2
44148.34
43550.00
Bullish FVG / Imbalance Zone 3
43361.60
42847.07
1 Hour Timeframe
we see support levels at 44228, 43490, 42409 and 41402. Demand zones are seen at 43661-43362 and 43209-43111. Price is trading between these support and demand zones. MACD signal is bullish.