BTC/USD Again Tests 30281: Sally Ho’s Technical Analysis - 17 July 2023
Bitcoin (BTC/USD) has lacked clear technical direction in the Asian session. Here are the key points:
- BTC/USD bounced higher from the 30142.85 level, which is around the 23.6% retracement of the recent narrow appreciating range.
- Buying pressure emerged around the 30145.47 area during a pullback, representing a test of the 23.6% retracement of the recent depreciating range.
- Stops were elected below several areas during the recent depreciation, with downside price objectives linked to selling pressure around specific levels.
- Upside price objectives include certain areas, and stops are cited above additional upside price objectives.
- Areas of technical support and potential buying pressure include specific levels, while upside price objectives related to historical buying activity are also mentioned.
Traders are observing certain moving averages indicating the current market conditions. Here’s more:
Subscribe to our Social Media for Exclusive Crypto News and Insights 24/7!
- The 50-bar MA (4-hourly) is bearishly indicating below the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly).
- The 50-bar MA (hourly) is bearishly indicating below the 100-bar MA (hourly) and above the 200-bar MA (hourly).
- Price activity is nearest the 50-bar MA (4-hourly) and the 200-bar MA (hourly).
- Technical support and resistance levels, along with expected stops, are mentioned.
- On the 4-hourly and 60-minute charts, SlowK and MACD indicators are provided.
In conclusion, BTC/USD is experiencing mixed technical direction, with various levels and indicators to watch.
