– Advertisement –
BTC/USD Volatility and Range Expand: Sally Ho’s Technical Analysis – 28 April 2023
Bitcoin (BTC/USD) orbited the 29000 figure early in the Asian session as the pair traded as high as the 30050.66 level, representing a test of a downside price objective associated with selling pressure that intensified around the 30463.84 area. Major selling pressure quickly knocked BTC/USD lower to the 27230.77 area, a test of a recent relative low from earlier in the month, before a recovery took place to back above the 29000 figure. Stops were elected above the 27929.17, 28525.56, 29007.57, and 29489.58 areas during the recent surge higher, retracement levels associated with the recent depreciating range from 31050 to 26965.14. Stops were also elected above the 28036.96 and 29370.70 areas during the appreciation, upside price objectives associated with recent buying pressure around the 27194.51 and 28161.74 areas.
Additional related upside price objectives include the 30420.74, 31237.11, and 32556.73 levels. Downside price objectives related to recent depreciating ranges and levels include the 26533, 26085, 25604, and 24103 levels. Additional upside price objectives include the 31477.37, 32501.23, 32989.19, 34583.96, 34658.69, 35222.66, 37765.28, and 38403.97 levels. 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. Traders are observing that the 50-bar MA (4-hourly) is bearishly indicating below the 100-bar MA (4-hourly) and below the 200-bar MA (4-hourly). Also, the 50-bar MA (hourly) is bullishly indicating above the 100-bar MA (hourly) and above the 200-bar MA (hourly).
Price activity is nearest the 100-bar MA (4-hourly) at 29096.57 and the 50-bar MA (Hourly) at 28584.01.
Technical Support is expected around 26533.04/ 25604.51/ 25094.62 with Stops expected below.
Technical Resistance is expected around 31986.16/ 32989.19/ 34658.69 with Stops expected above.
On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.
On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.
Disclaimer: Sally Ho’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.
Source : Crypto Daily
– Advertisement –
Source: https://coinotizia.com/bitcoin-price-analysis-volatility-expansion-28-april-2023/