• BTC/USD picks up bid inside a short-term symmetrical triangle.
  • Sustained trading beyond key SMA, upbeat oscillators favor bulls.

BTC/USD rises to $36,158, up 0.55% intraday, during early Wednesday’s trading. The famous cryptocurrency pair recently reversed from $35,654 while staying inside a symmetrical triangle established since January 04.

Not only the recent recovery moves but the quote's successful trading above 200-bar SMA amid upbeat RSI and MACD also suggest the quote’s further upside.

As a result, BTC/USD buyers should keep their eyes on the triangle resistance, at $38,325 now, for fresh entry while targeting the latest record top near $42,000.

It should, however, be noted that the $50,000 round-figure will lure the bulls past-$42,000.

Meanwhile, a downside break of the stated triangle’s support, currently around $35,200, will trigger fresh declines to a 200-bar SMA level of $31,100.

Though, any further weakness past-$31,100 may not hesitate to challenge the $30,000 threshold and monthly low near $27,780.

BTC/USD four-hour chart

Trend: Bullish

Additional important levels

Overview
Today last price 36183.99
Today Daily Change 262.65
Today Daily Change % 0.73%
Today daily open 35921.34
 
Trends
Daily SMA20 35619.26
Daily SMA50 27299.44
Daily SMA100 21148.24
Daily SMA200 15923
 
Levels
Previous Daily High 37860.2
Previous Daily Low 35899.42
Previous Weekly High 41444.8
Previous Weekly Low 30209.97
Previous Monthly High 29307.4
Previous Monthly Low 17578.63
Daily Fibonacci 38.2% 36648.44
Daily Fibonacci 61.8% 37111.18
Daily Pivot Point S1 35260.44
Daily Pivot Point S2 34599.53
Daily Pivot Point S3 33299.65
Daily Pivot Point R1 37221.22
Daily Pivot Point R2 38521.11
Daily Pivot Point R3 39182.01

 

 


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