BTC/USD Under Pressure: Sally Ho’s technical analysis – 22 November 2022
Bitcoin (BTC/USD), which was under renewed selling pressure in the Asian session, traded as low as the 16000 level and then fell to the 15868.17 level. This is its weakest print in many trading sessions. Traders failed to sustain a recent break above 17136.49, which represents the 50% retracement in the recent appreciation range of 15512 to 18140.62. BTC/USD recently fell to the 15512 area. This was a two-year low and represented a bearish price objective. Selling pressure had been increasing around the 21478.80, and 18495.50 regions. Technical confirmation and validation occurred when stops were elected below the corresponding downside price targets at the 17573.96 or 16651.45 areas. The 13369, 7538, and 8837 levels are associated downside price objectives below current activity.
After Stops were elected below 16990, 16966 and 16503 levels (areas associated with historical appreciating levels that began around the 3858 or 9819 levels), the recent depreciation increased. Technicians are still focusing on the 14500.15 area and 10432.73 as potential downside targets. Other downside price targets include the 14613 and 10727 levels. These are areas related to selling pressure, which intensified around the areas of 20894.96 & 18495.50. The 17791, 18495, 19199, 20070 and 20201 levels are areas of technical resistance. The 50-bar MA (4 hourly) is bearish and indicates below the 200-bar MA (4 hours) and below 100-bar MA (4 hours). The 50-bar MA (hourly), which indicates below the 100-bar MA, and below the 200 bar MA (hourly), is also bearish.
Price activity is closest to the 50-bar MA (4 hourly) at 160509.09 and the 50 bar MA (Hourly), at 16614.07.

Technical Support is expected to be available around 15512/13369.11/10727.75, with Stops expected below.
Technical Resistance is expected to be around 18495.40/ 19199.48/20070.64, with Stops expected to be above.
On the 4-Hourly chart SlowK is Bearishly lower than SlowD, while MACD is Bearishly lower than MACDAverage.
On a 60-minute chart SlowK is Bullishly higher than SlowD, while MACD is Bearishly lower than MACDAverage.

Disclaimer: Sally Ho’s Technical Analyses are provided by a third-party and are intended to be used for informational purposes only. It does not represent the views of Crypto Daily and is not intended to be used for legal, tax, investment or financial advice.

  

BTC/USD Under Pressure: Sally Ho’s Technical Analysis – 22 Nov 2022Bitcoin/USD (BTC/USD), was under renewed selling pressure in the Asian session. The pair traded as low as the 16000 level and then fell to the 15868.17 level. This is its weakest print in many trading sessions. Traders failed to sustain a recent break above 17136.49, which represents the 50% retracement in the recent appreciation range of 15512 to 18140.62. BTC/USD recently fell to the 15512 area. This was a two-year low and represented a bearish price objective. Selling pressure had been increasing around the 21478.80, and 18495.50 regions. Technical confirmation and validation occurred when stops were elected below the corresponding downside price targets at the 17573.96 or 16651.45 areas. The 13369, 7538, and 8837 levels are associated with downside price objectives below current prices activity. After Stops were elected below 16990, 16966 and 16503 levels, which are areas associated with historical appreciating levels that began around the 3858 or 9819 levels, the recent depreciation increased. Technicians are still focusing on the 14500.15 area and 10432.73 as potential downside targets. Other downside price targets include the 14613 and 10727 levels. These are areas related to selling pressure, which intensified around the areas of 20894.96 & 18495.50. The 17791, 18495, 19199, 20070 and 20201 levels are areas of technical resistance. The 50-bar MA (4 hourly) is bearishly indicating that it is below the 200-bar MA (4 hours) and below 100-bar MA (4 hours). The 50-bar MA is also bearishly indicating below 100-bar MA (4-hourly), and below 200-bar MA (4-8 hours). Technical Support is expected to be around 15512/ 13359.11/ 10727.75 with stops expected below. Technical Resistance is expected to be around 18495.40/ 19199.48/ 2007,0.64 with stops expected above. SlowK is bearishly below SlowD, while MACD and MACDAverage are Bearishly lower. On a 4-hour chart, SlowK rises above SlowD, while MACD falls below MACDAverage. Disclaimer: Sally Ho’s Technical Analysis is provided by a third-party and is for informational purposes only. It does not represent the views of Crypto Daily and is not intended to be used for legal, tax, investment or financial advice.