This summary text is fully AI-generated and may therefore contain errors or be incomplete.
Bitcoin (BTC) continues to show strong momentum, reaching its highest price since April 2022. The cryptocurrency has surpassed key levels and is now targeting further upside price objectives. Traders are closely watching the moving averages, which are indicating bullish signals across different time frames.Currently, the 50-bar MA (4-hourly) is above the 100-bar MA (4-hourly) and the 200-bar MA (4-hourly), suggesting a bullish trend. Similarly, the 50-bar MA (hourly) is also above the 100-bar MA (hourly) and the 200-bar MA (hourly). These technical indicators indicate potential buying pressure and support for Bitcoin.Looking at the price levels, Bitcoin faces technical resistance around 46487.10, 47108.16, and 48240.00. On the other hand, areas of technical support and potential buying pressure can be found around 37392.45, 36720.55, and 35633.00.In terms of technical analysis, the SlowK is currently bearishly below SlowD on the 4-hourly chart, while the MACD is bullishly above the MACDAverage. Similarly, on the 60-minute chart, the SlowK is bearishly below SlowD, while the MACD is bullishly above the MACDAverage.Overall, Bitcoin’s price is on an upward trajectory, with traders eyeing further upside price objectives. The moving averages and technical indicators suggest a bullish trend, indicating potential buying opportunities for investors.