BTC/USD Bears Growling: Technical Analysis by Sally Ho – Feb 25, 2023
Bitcoin (BTC/USD) Experienced weaker technical feeling at the beginning of Asian session how the pair went capped around the level 24027.97 before leavingThe low test on one price target associated with selling pressure around the 25288.88 It is 24749.96 levels. Technician commercial activity was evident when selling pressure retarded around the 23685 area, representing a test on one negative price target associated with selling pressure what strengthened around the 24600.95 area. Additional negative price targets include the 23496, 23364, 23302, 22943, 22832, 22770It is 22074 levels. the recent change higher for a new discharge of several months around 25288.88 also represented a test of level 25455one head price target related to historical buying pressure around the 16326.16 It is 20333.33 areas. Bullish price targets related to buying pressure around the 16326.16 area include the 25455, 25774, 27609It is 28004 levels.
Bullish price targets related to buying pressure around the 15460 area include the 26612, 26931, 29244It is 29639 levels. After the recent change higher for multi-month highs, technical support levels and areas of potential buying pressure are around the 22944, 22717, 23171, 22236, 22201, 21523, 21514, 21416, 21366It is 20791 areas. stops are cited below O 21047, 20874, 20724It is 20370 levels. Below current price activitytechnically significant areas include the 15900, 15512, 15313, 14500, 14364, 13369, 10727, 10432, 9682, 8837It is 7538 levels. Traders are noticing that the 50 bar MA (4 hours) It is optimistically indicating above O 100 bar MA (4 hours) It is above O 200 bar MA (4 hours). also the 50 bar MA (per hour) It is badly indicating below O 100 bar MA (per hour) It is below O 200 bar MA (per hour).
Price activity is closer to the MA of 50 bar (4 hours) to 24256.11 and the MA of 50 bar (Hourly) at 23994.07.
Technical support is expected around 18390.99/ 16714.46/ 14500.15 with stops expected below.
Technical Resistance is expected around 25455.06/ 25774.41/ 26612.64 with stops expected above.
About 4 hours graphic, SlowK It is Low below the SlowD while MACD It is Bearish below the MACDA average.
About 60 minutes graphic, SlowK It is Low below the SlowD while MACD It is Low below the MACDA 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, nor is it intended to be used as legal, tax, investment or financial advice.