BTC/USD Bearish Target 27242: Technical Analysis by Sally Ho – May 12, 2023
Waiting for Bitcoin (BTC/USD) technical early clarity Asian meeting of two people increased volatility go through sharp depreciation arrive 26800 levelits biggest drop per hour Since late April. stop yes Elected as follows this 27796, 27634, 27472, 27271and 26947 levels in fast decline, Short-term downside price target related selling pressure That strengthen surrounding 28322.10 and 28027.87 field. A short term recovery arrive 27647.82 area is upside down and Bitcoin/USD pushed reduce arrive 27302.09 area after stop yes Elected as follows this 27493, 27445, 27397and 27338 area, downside price target relevant selling pressure That strengthen surrounding 27561.12 area. stop quoted the following this 27242 area and more than this 31846.88 area.
Upside retracement level recently Depreciation range include 28428, 28564, 28700, 28741, 28868, 29243and 29299 field. above the market, Upside Price Target related to recent buying pressure surrounding 27194.51 and 28161.74 Fields include 30420.74, 31237.11and 32556.73 levels. downside price target related to recent Depreciation range and grade include 26533, 26085, 25604and 24103 levels. additional Upside Price Target include 31477.37, 32501.23, 32989.19, 34583.96, 34658.69, 35222.66, 37765.28and 38403.97 levels. Traders observed that 50 bar MA (4 hours) yes Pessimistically indicate below this 100 bar MA (4 hours) and the following this 200 bar MA (4 hours). also, 50 bar MA (hourly) yes pessimistically show the following this 100 bar MA (hourly) and the following this 200 bar MA (hourly).
Price activity closest to 50 moving average (4 hours) at 28404.61 and 50 moving average (hourly) at 27646.81.
technical support Estimated surrounding 26533.04/ 25604.51/ 25094.62 and stop The expectations are as follows.
technical resistance Estimated surrounding 31986.16/ 32989.19/ 34658.69 and stop above expectations.
exist 4 hours chart, Slow K yes Much lower than SlowD although MACD yes Bullish above MACDAverage.
exist 60 minutes chart, Slow K yes Much lower than SlowD although MACD yes Much lower than MACDAverage.
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.