Bitcoin Price Analysis: Bears Eyeing 28306 Risk

BTC/USD Bears Eyeing 28306 Draw back Threat:  Sally Ho’s Technical Evaluation – 17 August 2023

Bitcoin (BTC/USD) encountered extra bearish momentum early within the Asian session because the pair continued to determine decrease highs, rising the danger that bears will check the 28306.11 space.  Promoting strain not too long ago intensified across the 30222 space, proper across the 23.6% retracement of the appreciating vary from 24750 to 31862.21.  Further draw back strain ramped up close to the 29709 space, representing a check of the 38.2% retracement of the appreciating vary from 26165.98 to 31862.21.  Massive Stops are cited beneath the 27991.29 space, representing the 23.6% retracement of the broader appreciating vary from 15460 to 31862.21.   Further areas of technical help and potential shopping for strain in these appreciating ranges embody the 27466, 27166, 26428, 26272, and 25715 areas.

Above the market, upside value aims embody the 30526, 30611, 30762, and 31145 areas.  Upside value aims associated to different ranges of shopping for strain embody the 32125 and 33569 areas, and Stops are cited above extra upside value aims across the 32043, 34531, 34658, and 35912 areas.   Further draw back value aims linked to latest promoting strain embody the 28432, 28213, 28137, 27979, 27757, 27430, 27409, 27338, 27312, 27246, 26501, 26348, and 26199 ranges.  Additionally, the 28095.44 space represents the 23.6% retracement of the historic depreciating vary from 69000 to 15460.   Merchants are observing that the 50-bar MA (4-hourly) is bearishly indicating beneath the 200-bar MA (4-hourly) and above the 100-bar MA (4-hourly).  Additionally, the 50-bar MA (hourly) is bearishly indicating beneath the 100-bar MA (hourly) and beneath the 200-bar MA (hourly).

Worth exercise is nearest the 100-bar MA (4-hourly) at 29286.77 and the 50-bar MA (Hourly) at 29295.31.

Technical Assist is anticipated round 24440.41/ 23270.10/ 22769.39 with Stops anticipated beneath.

Technical Resistance is anticipated round 31986.16/ 32989.19/ 34658.69 with Stops anticipated above.  

On 4-Hourly chart, SlowK is Bearishly beneath SlowD whereas MACD is Bearishly beneath MACDAverage.

On 60-minute chart, SlowK is Bearishly beneath SlowD whereas MACD is Bearishly beneath MACDAverage.                                   

Disclaimer: Sally Ho’s Technical Evaluation is supplied by a 3rd get together, and for informational functions solely. It doesn’t replicate the views of Crypto Day by day, neither is it meant for use as authorized, tax, funding, or monetary recommendation.