BTC / USD breaks key level during pullback – Sally Ho technical analysis Jan 6, 2021 BTC

Bitcoin (BTC / USD) extended its recent soft spot early today Asian session while the couple worked to regain some ground lost after a minimum of several days from 45514 after Stops They were chosen below the 45650 area. The pair depreciated to that relatively low after peak about 47532.89 area, which represents a proof of the 200 hour simple moving average. Additional selling pressure later emerged around the 50 hour simple moving average, highlighting the technical nature of the couple in progress relative weakness. Traders are monitoring the December appreciating range from 42333 to 52100, observing BTC / USD you can try the 44638.01 Y 44423.14 levels if it is recent technical support about 45650 the area gives way. These levels represent the 76.4% Y 78.6% setbacks from December rise to the 52100 level, and if they break they can cause a proof from December monthly minimum.

Above recent price activity, traders are carefully monitoring recoil levels related to the recent depreciation range from 52100 to 45650, including the 48113, 48875, 49636, 50577, Y 50719 levels. Stops they were recently chosen below the 50535.16, 49567.08, 48784.66, 48002.24, 47034.16, Y 46888.29 areas during pull back, representing the 23.6%, 38.2%, fifty%, 61.8%, 76.4%, Y 78.6% setbacks of recent appreciating range from 45469.32 to 52100. Selling pressure started around Level 59 114.84 by the end of 2021 and many Stops They were chosen below the downside price targets during the selling pressure, including the 56533, 56080, 55735, 54295, 54114, 53748, 53600, 53046, 52351, 51322, 51171, 50185, 49361, 47400, 47426, 44974, Y 44667 levels. Traders are observing that 50-bar MA (every 4 hours) is indicating bearish below the 100-bar MA (every 4 hours) Y below the 200-bar MA (every 4 hours). He too 50-bar MA (per hour) is bearishly indicating below the 100-bar MA (per hour) Y below the 200-bar MA (per hour).

Price activity is closest to the 50-bar MA (4 hours) at 47283.19 and the 50-bar MA (Every hour) at 46576.74.

Technical support wait around 42151.91 / 38670.39 / 35734.12 with Stops expected below.

Technical resistance wait around 53046.01 / 55157.38 / 55526.67 with Stops expected above.

About 4 hours graphic, SlowK is Bearish below SlowD While MACD is Bearish below MACDAverage.

About 60 minutes graphic, SlowK is Bullish above SlowD While MACD is Bearish below MACDAverage.

Disclaimer: This business 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: https://cryptodaily.co.uk/2022/01/btc-usd-breaks-key-level-during-retreat-sally-ho-technical-analysis-6-january-2021-btc-bitcoin

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