BTC/USD Extends Technical Ascent: Sally Ho Technical Analysis – December 12, 2022
Bitcoin (BTC/USD) has been looking to rally recently upward progress at the start of the Asian session as the pair met other buying pressure around 17141.55 region, all around 23.6% retracement recent damping range of 17424.59 at 16679.52. Stronger technical offers have recently appeared around the 17060.69 region, representing a test of the 50% retracement recent damping range of 17424.59 at 16679.52. Additional downward retracement levels in this damping range include the 16964 and 16855 levelswhile BTC/USD Bulls look at it 17265.15 area as bullish target. Stops were elected below the 17193.77 and 17095.50 areas over the past retreatrepresenting the 23.6% and 38.2% retracements recent appreciation of the range of 16679.52 and 17352.62. Whether BTC/USD is able to resume his recent to the top trajectory, areas of upside potential technical resistance and sales pressure include the 17791, 18495, 19199, 20070and 20201 levels.
Below current price activity, BTC/USD drop consider a possible test recent two-year lows around 15460 area, established after Stops were elected below the 15512 Region. In particular, the 15512 level 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. Technicians continue to monitor 14500.15 and 10432.73 such important areas downside targetsand additional downward price targets include the 14613, 10727and 9682 levelsareas related to sales pressure this intensified around 20894.96 and 18495.50 areas. Traders find that MA 50 bars (4 hours) is indicating downward below the MA 200 bars (4 hours) and above the MA 100 bars (every 4 hours). Also MA 50 bar (hourly) is on the rise indicating above the MA 100 bars (hourly) and above the MA 200 bars (hourly).
Price activity is closest to MA 200 bar (4 hours) to 17209.83 and the MA 50 bar (Schedule) to 17149.37.
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 Bearish below 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.