BTC/USD Turns at 16529: Technical Analysis by Sally Ho – December 19, 2022
Bitcoin (BTC/USD) remained on the market defensive early in the Asian session while the couple stayed vulnerable around the 17000 digit after trade as low as the 16529.53 levelan area that represented a test of the 61.8% retracement of the appreciate range from 15460 until 18385.36. Technical question originated around the 16650.14 level during the pull backa test of the 50% retracement of the recent appreciate range from 16529.53 until 16775.52. stops were recently chosen below the 16849.58 area during the running depreciationa downward price target related to sales pressure Which intensified below the 17525 Surface. Strong sales pressure around the 18385 and 17525 areas can lead to test of additional downward price targets around the 16375, 15900, 15313and 14364 levels. In the event that BTC/USD can get some of it back upward momentumAdditionally technically significant upward retracement levels include the 18495, 19199, 20070and 20201 levels.
Below current price activity, BTC/USD bears looking at an opportunity 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 Which strengthens around the 21478.80 and 18495.50 areas. Below these areas, technically important levels include the 14613, 14500.15, 13369, 10432.73, 10727, 9682, 8837and 7538 levels. Traders note that the MA of 50 bar (4 hours) is bullish indicate above the 200 bar MA (4 hours) and above the 200 bar MA (4 hours). Also the MA of 50 bar (per hour) is bearish indicating below the MA of 100 bar (per hour) and below the MA of 200 bar (per hour).
Price activity is closest to the MA of 50 bar (4 hours) at 17260.77 and the MA of 50 bar (hours) at 17009.83.
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 Bearishly below the 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.