BTC/USD Tests 26676 Target:  Sally Ho’s Technical Analysis – 6 June 2023

Bitcoin (BTC/USD) retained its bearish outlook early in the Asian session as the pair depreciated from the 27466.83 level and reached the 26674.83 area, representing a test of a downside price objective around the 26676 area.  Related downside price objectives include the 26120, 25565, 24878, and 23767 levels.  Large Stops were recently elected below the 27477.07 area during the recent depreciation, representing the 38.2% retracement of the recent appreciating range from 25864.35 to 28473.93.  Downside price objectives linked to the 28057.23 and 27875 levels include the 26335 and 25675 areas.  Stops are cited below the 26422 level. 

Additional downside price objectives include the 25474, 25442, 24705, 24440, 23208, and 22769 levels.  Following recent price activity, areas of technical resistance and potential selling pressure include the 29048, 29143, and 29813 levels.  Upside retracement levels in recent depreciating ranges include the 28700, 28741, 28868, 29243, 29299, and 29284 levels.  Above the market, upside price objectives include the 30420.74, 31237.11, 31477.37, 32501.23, 32556.73, 32989.19, 34583.96, 34658.69, 35222.66, 37765.28, and 38403.97 levels.   Traders are observing that the 50-bar MA (4-hourly) is bearishly indicating below the 200-bar MA

Go to Source to See Full Article
Author: Sally Ho

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details