Cryptocurrencies have been experiencing bullish yet volatile activity in recent weeks. Bitcoin (BTC/USD) continues to fluctuate around its 27370.76 level, representing the 23.6% retracement of the broad appreciating range from 15460 to 31050. In the Asian session alone, the pair suffered from bearish momentum, with stops being elected below the 27119.16 level. As a result, BTC/USD faded to the 26965.14 area.

In terms of technical supports, traders are watching levels including the 26664, 25309, 25094, 23954, 23255, and 21415. On the upside, targets include 31477.37, 32501.23, 32989.19, 34583.96, 34658.69, 35222.66, 37765.28, and 38403.97. The 50-bar MA (4-hourly) is bearishly indicating below the 100-bar MA (4-hourly) and the 200-bar MA (4-hourly). In addition, the 50-bar MA (hourly) is underlining this trend and is below the 100-bar MA (hourly) but above the 200-bar MA (hourly).

On 4-hourly as well as hourly charts, SlowK and MACD indicators suggest bullish activity and are above SlowD and MACDAverage respectively. Therefore, it can be concluded that Bitcoin is currently exhibiting a positive yet volatile trend. As one must always take into account that trading is subject to market risks, it is recommended to proceed cautiously and consult the associated professional advice before investing.



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