BTC/USD Tests 26955 Technicals:  Sally Ho’s Technical Analysis – 21 May 2023

Bitcoin (BTC/USD) gained marginal ground early in the Asian session as the pair remained in a relatively tight range with selling pressure around the 26955.26 level, right around the 38.2% retracement of the recent appreciating range from 25810 to 27678.73.  Upside progress recently weakened around the 27516.58 level, representing a test of another downside retracement level linked to recent selling pressure around the 29850 area.   Technical trading activity remains strong with recent buying activity around the 26361.52 area, a test of a previous downside price objective linked to selling pressure around the 28334.75 area.  Following recent selling pressure, related downside price objectives include the 26308, 26093, 25885, and 25604 levels.  Stops were recently elected below the 27145, 27108, 26765, 26729, 26380, 26309, and 26203 levels during the recent depreciation, downside price objectives related to recent selling pressure around the 30500, 30050, 29850, 28334, and 27647 levels.  Related downside price objectives include the 25474, 25442, 25124, 24705, 24440, 23208, and 22769 levels. 

Following recent price activity, areas of technical resistance and potential selling pressure include the 28011, 28591, 29171, 29889, and 29997 levels.  Upside retracement levels in recent depreciating ranges include the 28

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