BTC/USD Extends Downward Pain Below 22908: Sally Ho’s Technical Analysis – 19 August 2022
Bitcoin (BTC/USD) remained considerably weaker early in the Asian session as the pair came off to the 21264.06 area after Stops were elected below the 23185, 22296, and 21392 areas during the pullback, technically significant areas related to buying pressure that emerged around the 17567.45 area. Related areas of potential technical support include the 21038, 20715, 20662, 19931, 19028, and 18892 levels. Stops are likely in place below the 20902, 20714, and 20443 areas, levels that are linked to more recent buying pressure around the 18892 area. Upside retracement levels in the depreciating range from 31549.21 to 17567.45 include the 26208, 28249, and 28557 areas.
Additional upside price objectives and areas of potential selling pressures include the 25552, 26323, 26411, 26901, 27126, 27455, 28426, and 29669 areas. Additional significant technical areas on the downside include the 16990.14, 14500.15, and 10432.73 areas. Traders are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly). Also, the 50-bar MA (hourly) is bearishly indicating below the 100-bar MA (hourly) and below the 200-bar MA (hourly).
Price activity is nearest the 200-bar MA (4-hourly) at 23172.61 and the 50-bar MA (Hourly) at 22971.12.
Technical Support is expected around 16990.14/ 14500.15/ 10432.73 with Stops expected below.
Technical Resistance is expected around 25256.96/ 27455.20/ 32383.96 with Stops expected above.
On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.
On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.
Disclaimer: Sally Ho’s Technical Analysis is provided by a third party, and 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.