BTC / USD Fading and Watching Downside Risk – Sally Ho Technical Analysis Dec 24, 2021 BTC

Bitcoin (BTC / USD) returned some recent earnings earlier today Asian sitting as the couple failed to hold a proof of the 49597.50 level, which represents a proof of the 50% recoil of the appreciating range from 47200 to 51995. Selling pressure then knocked down BTC / USD lower to proof the Level 47935.18, representing the 61.8% retracement of the depreciation range from 49459.39 to 45469.32. Additional retracement levels to the downside in this depreciation range include the 47464, 46993, Y 46410 areas. BTC / USD bulls are waiting to see if BTC / USD can hold a break above the 51503.64 area, which represents the 38.2% retracement of a wider depreciation range from 66339 to 42333.

Selling pressure started around Level 59 114.84 in recent weeks 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. Following the recent of the couple volatility, retracement levels up and areas of potential technical resistance include the 52706.65, 55157.38, Y 55526.67 areas. 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 bullish indicating about the 100-bar MA (per hour) Y about the 200-bar MA (per hour).

Price activity is closest to the 100 bar MA (4 hours) at 48397.20 and the 100 bar MA (Every hour) at 47757.96.

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

Technical resistance wait around 52706.65 / 55157.38 / 55526.67 with Stops expected above.

About 4 hours graphic, SlowK is Bearish below SlowD While MACD is Bullish above the MACDA average.

About 60 minutes graphic, SlowK is Bearish below 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/2021/12/btc-usd-fades-and-eyes-downside-risk-sally-ho-technical-analysis-24-december-2021-btc-bitcoin

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