BTC/USD Downside Risks Pervasive: Sally Ho’s Technical Analysis – September 7, 2022
Bitcoin (BTC/USD) extended the most recent depreciation already Asian meeting as a continuation of track This 19742.48 area, representing 78.6% retracement of Appreciation range from 19513.74 to 20582.64. Selling pressure intensifies around 20028.21 area, representing a test of 50% retracement of Appreciation range from 19540.14 to 20489. Some stop Yes choose below This 78.6% retracement of Appreciation range from 19588.27 to 20060. Bitcoin/USD shed 18% its market valuation August, has given back about YTD 81% in 2022.trader is unable to to get Bitcoin/USD to support Short-lived rest above This Level 24558.33 In August, the region represented 50% of Depreciation rate from 31549.21 to 17567.45. Following the recent selling pressureextra significant technical area on shortcoming include 16990.14, 14500.15and 10432.73 field.
The following stronger episode downward pressurefield technical resistance and potential selling pressure include 20619, 20782, 20839, 20887, 21077, 21095, 21387and 21575 field. above recent price activity, upside retracement inside Depreciation rate from 31549.21 to 17567.45 include 26208, 28249and 28557 field.additional Upside price target and potential areas selling pressure include 25552, 26323, 26411, 26901, 27126, 27455, 28426, and 29669 field.traders observe 50 bar MA (4 hours) Yes Bearish indication is below This 100 bar MA (4 hours) and the following This 200 bar MA (4 hours). Furthermore, the 50 bar MA (hourly) Yes pessimistically express the following This 100 bar MA (hourly) and the following This 200 bar MA (hourly).
price activity closest 50 bar MA (4 hours) at 19974.49 and 50 bar MA (hourly) at 19819.11.
technical support expected at 16990.14/ 14500.15/ 10432.73 and stop It is expected as follows.
technical resistance expected at 25256.96/ 27455.20/ 32383.96 and stop More than expected.
superior 4 hours chart, slow K Yes Bullish above SlowD although MACD Yes Bullish above MACDAverage.
superior 60 minutes chart, slow K Yes Bearish below SlowD although MACD Yes Below MACDA Average Bearish.
Disclaimer: Sally Ho’s technical analysis is provided by a third party 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.
