Bitcoin

BTC/USD Supported at 26774:&nbsp; Sally Ho&rsquo;s Technical Analysis &ndash; 15 May 2023
Bitcoin (BTC/USD) remained confined to a relatively tight range early in the Asian session as the pair orbited the 26763.44 area, representing the 23.6% retracement of the recent depreciating range from 29850 to 25810.&nbsp; &nbsp;Technical demand pushed BTC/USD from the 26351 and 26729.78 levels during the improving retracement, recent downside price objectives related to selling pressure that intensified around the 28334.75 area.&nbsp; Additional related recent downside price objectives include the 27108, 27577, and 27647 areas.&nbsp; Stops were recently elected below the 27145, 27108, 26765, 26729, 26380, 26309, and 26203 levels during the depreciation, downside price objectives related to recent selling pressure around the 30500, 30050, 29850, 28334, and 27647 levels.&nbsp; Related downside price objectives include the 25474, 25442, 25124, 24705, 24440, 23208, and 22769 levels.&nbsp; Following recent price activity, areas of technical resistance and potential selling pressure include the 27293, 28011, 28591, 29171, 29889, and 29997 levels.
Upside retracement levels in recent depreciating ranges include the 28428, 28564, 28700, 28741, 28868, 29243, and 29299 areas. &nbsp;Above the market, upside price objectives related to recent buying pressure around the 27194.51 and 28161.74 areas include the 30420.74, 31237.11, and 32556.73 levels.&nbsp; Additional downside price objectives related to recent depreciating ranges and levels include the 26085, 25604, and 24103 levels.&nbsp; Additional 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;Traders are&nbsp;observing&nbsp;that the&nbsp;50-bar MA (4-hourly)&nbsp;is&nbsp;bearishly indicating below the 100-bar MA (4-hourly)&nbsp;and&nbsp;below 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;50-bar MA&nbsp;(4-hourly) at 27762.79 and the&nbsp;50-bar MA&nbsp;(Hourly) at 26668.19.
Technical Support&nbsp;is expected around&nbsp;25604.51/ 24440.41/ 22769.39 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 Bullishly above MACDAverage.
On&nbsp;60-minute&nbsp;chart,&nbsp;SlowK&nbsp;is Bullishly above 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: 26774 Support - 15 May 2023

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