Cryptocurrency Bitcoin (BTC/USD) is a crucial currency that many traders in the digital market are currently considering. It has seen a remarkable surge in its market price in March and has gained up to 70% year to date, as investors take advantage of the increasing popularity of Bitcoin.

In the early Asian session, the pair moved below the 28153.61 level, which is the 38.2% retracement of the recent depreciation range from 29190.04 to 27512.97. Selling pressure increased around the 28508.84 area after the test of the 78.6% retracement of the same depreciation which was concluded at the end of March, with the absorption of the 28293.42 and 28344.24 levels.

Upside price objectives that buyers are aiming at are 29244.66, 29639.37, 30127.80, 30275.12, 30763.09 and 31477.37. But, strong bullish movements may also look at the 34658 and 35821 levels. On the other hand, potential shareholders should take heed of the several retracement levels and technical support regions such as 25948, 25756, 25358, 24253, 24099, 23789, 23147, 22605, and 22198. Other downside price objectives consist of 19266, 19132, 19106, 19006, 18981, 18919, 18822, 18116, 17720, 17523, 17457, 17230, and 17196.

Currently, the 50-bar MA (4-hourly) is shown in a bullish position above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly). The level price activity is also nearest the 50-bar MA (4-hourly) at 27907.81 and the 50-bar MA (Hourly) at 28272.61. Technical support is seen around 25256.83/ 24224.60/ 21753.70, whereas technical resistance is expected around 29244.66/ 29639.37/ 30127.80.

On 4-Hourly chart, the SlowK indicator is seen in a bearish position below the SlowD, while the MACD is placing below the MACDAverage. The same result applies for the 60-minute chart.

In conclusion, Bitcoin (BTC/USD) is seeing a major surge in market price yielding more potential opportunities to investors. Although the pair has seen a slight decrease below the 28153.61 level, there are still some strong bullish movements to look at. It is important to remember that market prices are subject to change and to use proper financial advice prior to investing.



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