December 5, 2023

BTC/USD weakens after dip: Sally Ho’s technical analysis – May 2, 2023

Bitcoin (BTC/USD) Continue technically important track levels already Asian session, as the pair stays close to 28525.56 the following areas declineA grade that represents 38.2% retracement recent Depreciation range from 31050 arrive 26965.14. Traders push Bitcoin/USD trades lower from 29969.99 area until Require Appear in 28271.44 area, representing a test of Upside Price Target related buying pressure Appear in 27194.51 area.Some buying pressure also appeared around 28451.78 region, a Upside Price Target related buying pressure That strengthen surrounding 27479.93 area. stop yes more than elected this 27929.17, 28525.56, 29007.57and 29489.58 area with recent surge higher, retracement level related to recent Depreciation range from 31050 arrive 26965.14. stop Too more than elected this 28036.96 and 29370.70 period area appreciate, Upside Price Target related to recent buying pressure surrounding 27194.51 and 28161.74 field.

Additional related Upside Price Target include 30420.74, 31237.11and 32556.73 levels. downside price target related to recent Depreciation range and level 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. Another important price target Is 31846.88 area, a grade that represents 50% retracement of Depreciation rate from 48233.76 arrive 15460. 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 more than this 200 bar MA (hourly).

Price activity closest to 50 moving average (4 hours) at 28484.33 and 200 bar moving average (hourly) at 28493.21.

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 Much lower than MACDAverage.

exist 60 minutes chart, Slow K yes Bullish above 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.