Bitcoin

April

BTC/USD Orbiting 28340:&nbsp; Sally Ho&rsquo;s Technical Analysis &ndash; 22 April 2023
Bitcoin (BTC/USD) remained under pressure early in the Asian session as the pair continued to orbit the 28340.37 area, representing the 23.6% retracement of the broad appreciating range from 19568.52 to 31050.&nbsp;&nbsp; The pair was unable to sustain a recent brief rebound to the 28371.88 area and extended the sell-off to the 27815 area.&nbsp; Stops were recently elected below the 28479.91 area, a downside price objective linked to selling pressure that intensified around the 30500 area.&nbsp; Downside price objectives related to recent depreciating ranges and levels include the 27758, 27283, 27119, 26533, 26085, 25604, and 24103 levels.&nbsp; Following recent price activity, retracement levels and areas of potential technical resistance include the 29159, 29383, 29408, 29657, 29701, 29965, 30012, 30413, and 30472 levels.&nbsp;
Following recent price activity, retracement levels and areas of potential technical support include the 27370, 26664, 25309, 25094, 23954, 23255, and 21415 levels.&nbsp; Upside price objectives include the 31477.37, 32501.23, 32989.19, 34583.96, 34658.69, 35222.66, 37765.28, and 38403.97 levels.&nbsp; &nbsp;Another important price objective is the 31846.88 area, a level that represents the 50% retracement of the depreciating range from 48233.76 to 15460.&nbsp; &nbsp;Traders are&nbsp;observing&nbsp;that the&nbsp;50-bar MA (4-hourly)&nbsp;is&nbsp;bullishly indicating above the 100-bar MA (4-hourly)&nbsp;and&nbsp;above the&nbsp;200-bar MA (4-hourly).&nbsp; 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&nbsp;200-bar MA&nbsp;(4-hourly) at 28407.77 and the&nbsp;50-bar MA&nbsp;(Hourly) at 28692.51.
Technical Support&nbsp;is expected around&nbsp;27283.59/ 26533.04/ 25604.51 with&nbsp;Stops&nbsp;expected below.
Technical Resistance&nbsp;is expected around&nbsp;31986.16/ 32989.19/ 34658.69 with&nbsp;Stops&nbsp;expected above.&nbsp;&nbsp;
On&nbsp;4-Hourly&nbsp;chart,&nbsp;SlowK&nbsp;is Bullishly above SlowD&nbsp;while&nbsp;MACD&nbsp;is Bearishly below MACDAverage.
On&nbsp;60-minute&nbsp;chart,&nbsp;SlowK&nbsp;is Bearishly below SlowD&nbsp;while&nbsp;MACD&nbsp;is&nbsp;Bullishly above MACDAverage.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
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Disclaimer: Sally Ho&rsquo;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.

Bitcoin Price Analysis: Orbiting 28340 - 22 April 2023

Crypto Daily™

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