- Bitcoin fades pullback from record high amid bullish MACD.
- Sustained U-turn from previous resistance keeps buyers hopeful.
- Short-term rising trend line, 200-bar SMA add to the downside filters.
BTC/USD takes the bids near 27,200 during early Monday. The crypto major refreshed record highs while crossing the 28,000 mark to 28,373 during the weekend.
The consolidation from the all-time top failed to slip beneath the earlier resistance line stretched from November 30 during the week-start move. It should also be noted that bullish MACD also favors the BTC/USD buyers.
As a result, Bitcoin bulls are currently targeting the 28,000 round-figure before challenging the latest top surrounding 28,400.
In a case where the RSI conditions fail to stop the north-run past-28,400, the 30,000 psychological magnet will catch the BTC/USD upside.
Alternatively, a downside break of the immediate support line, near 26,250, precedes an upward sloping trend line from December 16, currently around 24,300, to test the pullback moves.
If at all the BTC/USD breaks short-term support lines, 200-bar SMA near 20,450 becomes the key to watch.
BTC/USD four-hour chart
Trend: Bullish
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