Bitcoin Price Analysis: Holdings 24388 – 19 Feb 2023


BTC/USD Holding 2388: Sally Ho’s Technical Analysis – 19 Feb 2023Bitcoin (BTC/USD), continued to experience lower upward momentum in the Asian session. The pair orbited around the 24500 area after recent buying pressure around 24056.59. The 23.6% retracement in the appreciating range of 21366.45 – 25256.83 is at 24338.70. BTC/USD recently tested 23344.12 during a pullback. This test represents a 50% retracement in this appreciating range. BTC/USD was recently lifted to the 25256.83 level by traders. This was its strongest print since August 20,22. It also represented a test at the 25455 level. This upside price objective is related to historical buying pressure in the 16326.16 or 20333.33 areas. During the massive rally, stops were elected above a number of upside price targets, including the 23980.62 or 24224.60 levels. The 25455, 25774, 27698, 27609 and 28004 levels are upside price objectives for buying pressure in the 16326.16 region. The 26612, 26931, 29244 and 29639 levels are upside price objectives for buying pressure in the 15460 region. Technical support levels and areas of possible buying pressure around the 22944, 22171, 23171, 22236 and 22201 areas have increased to multi-month highs. Stops are not cited below the 21047 and 20874 levels. Technically significant areas below current price activity include the 15900 and 15512 levels. The 50-bar MA (4 hourly) is bearish indicating below the 100 bar MA (4-hourly), and above the 200 bar MA (4 hoursly). The 50-bar MA is bullishly indicating that the 100-bar MA (4 hours) is below the 200-bar MA (4 hours) and above the 200bar MA (5 hours). Technical Support is expected to be around 18390.99/16714.46/14500.15 with Stops anticipated below. Technical Resistance is expected to be around 25455.06/25774.41/ 26612.64, with Stops expect above. SlowK is bearishly below SlowD, while MACD and MACD are Bearishly lower than MACDAverage. On a 60-minute chart SlowK is bullishly above SlowD, while MACD and MACDAverage are bearishly below. 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.


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