Bitcoin Price Analysis: 17136 Hurdle, 19 November 2022


BTC/USD Looking at 17136 Hurdle: Sally Ho’s Technical Analysis – 19 Nov 2022Bitcoin/USD appeared to add to its recent gains in the Asian session. The pair extended upward momentum above the area of 16516, representing the 61.8% Retracement of the recent appreciation range between 15512 and 18140.62. BTC/USD bulls want to maintain a break above 17136.49, which represents the 50% retracement and an area of technical support in recent trading sessions. BTC/USD has recently fallen 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 hours) is bearish, indicating below 200-bar MA (4 hours) and below 100-bar MA (4 hours). The 50-bar MA is also bearishly indicating below 100-bar MA (2-hourly), and below 200-bar MA (4 hourly). Price activity is close to the 200-bar MA (4 hours) at 16765.63, and the 50 bar MA (Hourly), at 16764.41. 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 Bullishly above. On a 60-minute chart SlowK is bullishly above SlowD, while MACD and MACDAverage are bullishly above. Disclaimer: Sally Ho’s Technical Analyses are provided by a third-party and are 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.


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