February 4, 2023

BTC/USD Extends Technical Rise: Technical Analysis by Sally Ho – December 12, 2022

Bitcoin (BTC/USD) recently tried to resume upward progress early in the Asian session when the pair encountered more buying pressure around the 17141.55 area, around 23.6% retracement of the recent depreciation range from 17424.59 until 16679.52. Stronger technical bids recently emerged around the 17060.69 area, represents a to test of the 50% withdrawal of the recent depreciation range from 17424.59 until 16679.52. Additionally downward retracement levels in this depreciation range include the 16964 and 16855 levelswhile BTC/USD bulls are in sight 17265.15 area as one up target. stops goods chosen below the 17193.77 and 17095.50 areas during the past to withdrawthat the 23.6% and 38.2% retracements of the recent appreciate range from 16679.52 and 17352.62. If BTC/USD can resume his recent upwards trajectory, upside potential technical resistance and sales pressure include the 17791, 18495, 19199, 20070and 20201 levels.

Below current price activity, BTC/USD bears looking at an opportunity to test from recently lows in two years around the 15460 area, founded after stops goods chosen below the 15512 Surface. In particular, the 15512 level represented one exact bearish price target based on sales pressure That strengthens around the 21478.80 and 18495.50 areas. Associated downward price targets below current price activity includes the 13369, 8837and 7538 levels. Technicians continue to monitor the camera 14500.15 and 10432.73 areas as important downward targetsand additional downward price targets include the 14613, 10727and 9682 levelsareas related to sales pressure That intensified around the 20894.96 and 18495.50 areas. Traders note that the MA of 50 bar (4 hours) is bearish indicates below the 200 bar MA (4 hours) and above the 100 bar MA (4 hours). Also the MA of 50 bar (per hour) is bullish indicating above the MA of 100 bar (per hour) and above the MA of 200 bar (per hour).

Price activity is closest to the MA of 200 bar (4 hours) at 17209.83 and the MA of 50 bar (hours) at 17149.37.

Technical assistance is expected around 14500.15/ 13369.11/ 10727.75 of stops expected below.

Technical Resistance is expected around 18495.40/ 19199.48/ 20070.64 of stops expected above.

on 4 hours per hour graphic, SlowK is Bullish over SlowD while MACD is Bullish above MACDA average.

on 60 minutes graphic, SlowK is Bearish under SlowD while MACD is Bullish above MACDA average.

Disclaimer: Sally Ho’s technical analysis is provided by a third party and is for informational purposes only. It does not represent the views of Crypto Daily nor is it intended to be used as legal, tax, investment or financial advice.

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