BTC/USD bulls seek to hold 29427: Sally Ho’s technical analysis – July 8, 2023
Bitcoin (BTC/USD) is still affected by the following factors Technically Bearish Sentiment already Asian conversation as a pair fall off arrive 29715.97 post-trade area High as 31525.10 Region, last twelve months High It was reached a few trading days ago.traders at that time BTC/USD rises arrive 30363.57 region, representing a mobile test of 38.2% retracement recent Depreciation range from 31525.10 arrive 29715.97.presentable selling pressure recent exacerbated surrounding 31142.38 area and this promote this risk another’s test of 29427 area, representing 38.2% retracementthe t Wider Appreciation Range from 26165.98 arrive 31443.67. Below this area, 28604.83 grade represent 50% retracement that Range of appreciation.additional Upside Price Target include 31737, 32125and 33569 area. stops quoted more than additional Upside Price Target surrounding 31674, 32043, 34531and 34658 area.
Following the recent selling pressurearea potential tech support and buying pressure include 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 the following this 200 bar MA (hourly).
Price activity closest to 100 bar MA (every 4 hours) on 30243.31 and 50 bar MA (hourly) at 30393.63.
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 Bullish above SlowD 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.