Bitcoin Price Analysis: Bitcoin Prices from 16460 to 30 December 2022
BTC/USD Bounces From 16460: Sally Ho’s Technical Analysis – 30 December 2022Bitcoin/USD attempted to add to its recent bounce as it traded as low at 16460, its lowest level since trading as low this month (16273.40). In a test of the simple 4-hour, 50-bar simple moving average, the pair failed to reach the 17000 level. It reached the 16777.35 area at the peak. The pair has been circling the 16880.44 level, which is the 23.6% retracement for the depreciating range of 21478.80 up to 15460. Recently, selling pressure intensified around the 17525 and 18385.36 levels. BTC/USD tested downside prices objectives related to these levels, which included the 16375.18 region. These selling pressure areas also have related downside price targets, such as the 15900, 15313 and 14364 levels. Technically, the 18495-19199, 20070 and 20201 levels are additional upside retracement levels that could be useful if BTC/USD regains some upside momentum. BTC/USD has fallen approximately 63% year to date and is down more than 1% monthly. BTC/USD bears are looking at a possible test for recent two-year lows in the 15460 area. This was established after Stops were elected below 15512. The 15512 level was a bearish price target. It was based on selling pressure which increased around the 21478.80 or 18495.50 areas. Technically significant levels below these areas include the 14613.15, 14500.15 and 13369 levels. The 50-bar MA (4 hourly) is bearishly indicating that it is below the 100-bar MA (4 hours) and below 200-bar MA (4 hours). The 50-bar MA is also bearish, indicating below the 100 bar MA (4-hourly), and below the 200 bar MA (4-hourly). Technical Support is expected to be around 14500.15/ 13379.11/ 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 bullishly above SlowD, while MACD and MACD are bearishly below MACDAverage. On a 60-minute chart SlowK is bearishly below SlowD, while MACD and MACD are bullishly above 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.