Bitcoin price analysis: 16484 level in orbit

BTC/USD Orbiting 16484 Technicals: Sally Ho Technical Analysis – November 30, 2022

Bitcoin (BTC/USD) continued to orbit a key technical level at the start of the Asian pair session appreciated to 16541.72 front area moderateall around the 38.2% retracement of the damping range of 18140.62 at 15460. The technical meaning of that interval has been confirmed when BTC/USD tested and bounce higher from 16092.53 region, all around 23.6% retracement of the same damping range. Before that upside down movement, BTC/USD meet technical support around 15992.64 region, representing a test of the 61.8% retracement recent appreciation of the range of 15460 at 16797.28. Renewed selling pressure risks a test recent two-year lows around 15460 level after Stops were elected below the 15512 region, a former relatively weak which represented a exact bearish price target based on sales pressure this reinforced around 21478.80 and 18495.50 areas. Associate downward price targets underneath activity at current prices includes 13369, 8837and 7538 levels.

The recent intensified damping after Stops were elected below the 16990, 16966and 16503 levelsdomains associated with historical appreciation ranges which started around 3858 and 9819 levels. Technicians continue to monitor 14500.15 and 10432.73 such important areas downside targets. Additional downward price targets include the 14613, 10727and 9682 levelsareas related to sales pressure this intensified around 20894.96 and 18495.50 areas. Following the recent move lower at two-year lowsareas of potential technical resistance include the 17791, 18495, 19199, 20070and 20201 levels. Traders find that MA 50 bars (4 hours) is indicating downward below the MA 100 bars (4 hours) and underneath the MA 200 bars (every 4 hours). Also MA 50 bar (hourly) is on the decline indicating underneath the MA 100 bars (hourly) and underneath the MA 200 bars (hourly).

Price activity is closest to MA 100 bar (4 hours) to 16520.41 and the MA 100 bar (Schedule) to 16438.71.

Technical support is expected around 14500.15/ 13369.11/ 10727.75 with Stops provided below.

Technical resistance is expected around 18495.40/ 19199.48/ 20070.64 with Stops provided above.

On 4 hours chart, SlowK is Rise above SlowD while MACD is Rise above MACDAverage.

On 60 minutes chart, SlowK is Rise above SlowD while MACD is Rise above MACDaverage.

Disclaimer: Sally Ho technical analysis is provided by a third party and for informational purposes only. It does not reflect the opinions of Crypto Daily and is not intended to be used as legal, tax, investment or financial advice.

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