BTC/USD Back to 26034 Level: Sally Ho’s Technical Analysis – 23 August 2023

BTC/USD Again to 26034 Stage:  Sally Ho’s Technical Evaluation – 22 August 2023

Bitcoin (BTC/USD) moderated early within the Asian session because the pair encountered expanded volatility after which orbited the 26034 space, representing the 38.2% retracement of the appreciating vary from 25610 to 26296.78.   Stops had been elected beneath the 25872 space throughout a pullback, representing the 61.8% retracement of the identical appreciating vary, and bottomed out across the 25814 space earlier than BTC/USD climbed to the 26260.25 space.  The current recent multi-month low across the 25234.76 space represented a check of a significant draw back worth goal across the 25128.94 space that’s related to promoting stress that elevated across the 31862.21 and 30421.29 ranges in July.   Main Stops had been elected beneath the 27620.46 space through the decline, one other draw back worth goal linked to current downward stress across the 30222 and 29665.27 areas.  Main Stops had been additionally elected beneath the 27991.29 space, representing the 23.6% retracement of the broader appreciating vary from 15460 to 31862.21.  

Areas of technical assist and potential shopping for stress in appreciating ranges from the 15460 and 19568.52 ranges embody the 23661, 22793, and 21725 ranges.   Following current promoting stress, areas of technical resistance and potential promoting stress embody the 26798, 27139, 27728, 27766, 28316, 28548, 29154, 29330, and 30443 ranges.  Above the market, upside worth targets embody the 30526, 30611, 30762, and 31145 areas.  Upside worth targets associated to different ranges of shopping for stress embody the 32125 and 33569 areas, and Stops are cited above further upside worth targets across the 32043, 34531, 34658, and 35912 areas.   Traders are observing that the 50-bar MA (4-hourly) is bearishly indicating beneath the 100-bar MA (4-hourly) and beneath the 200-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).

Value exercise is nearest the 50-bar MA (4-hourly) at 27525.77 and the 50-bar MA (Hourly) at 26083.17.

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

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

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

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

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