BTC/USD bulls head towards 31525 ahead of volatility: Sally Ho’s technical analysis – July 7, 2023
Bitcoin (BTC/USD) Tries to Retain Recent strong progress already Asian meeting like two people lift arrive 31525.10 district, a Twelve-month highback stops yes selected above this 31443.67 Represents the most recently established annual region High. buying pressure appeared around 30328.79 Region and follow-up technical activities surrounding 30439.66 and 30575.66 area Accelerated move.During volatility pull back, buying pressure originally appeared around Level 31828an action reduce arrive test The most recent 38.2% retracement Range of appreciation from 30189.56 arrive 31525.10. stops eventually is Choose below this 31014, 30857and 30699 regions in the final period profit taking depreciationand an additional Downside callback level include 30504 and 30475 area.
more than market, extra Upside Price Target include 31737, 32125and 33569 area. stops quoted more than additional Upside Price Target surrounding 31674, 32043, 34531and 34658 area.
Based on recent activity, the following areas potential tech support and buying pressure include 29863, 29427, 28886, 28804, 28182, 28096and 27306 area.Technicians are watching closely to see how many technical support around development 28095.44 area, representing 23.6% retracement of historical depreciation from 69000 arrive 15460.traders observed 50 bar MA (4 hours) yes above shows bullish this 100 bar MA (4 hours) and more than this 200 MAs (4 hours). in addition, 50 bar MA (hourly) yes pessimistically show the following this 100 bar MA (hourly) and more than this 200 bar MA (hourly).
Price activity closest to 50 bar MA (every 4 hours) on 30604.81 and 50 bar MA (hourly) at 30714.61.
technical support estimated about 24440.41/ 23270.10/ 22769.39 and stops expected to be lower than.
technical resistance estimated about 31986.16/ 32989.19/ 34658.69 and stops As expected.
exist 4 hours chart, Slow K yes Bullish above SlowD although MACD yes Bearish below MACD.
exist 60 minutes chart, Slow K yes Below SlowD Bearish although MACD yes Bullish above the MACD average.
Disclaimer: Sally Ho’s technical analysis is provided by a third party and is for informational purposes only. It does not reflect the views of Crypto Daily and is not intended to be used as legal, tax, investment or financial advice.