BTC/USD 28095 Remains Pivotal: Sally Ho’s Technical Analysis – 26 July 2023
Bitcoin (BTC/USD) remained pressured early in the Asian session as the pair glided higher from the 29046 level and reached the 29278.23 area after Stops were elected above the 29228.77 area, an upside price objective associated with buying pressure around the 28850 and 28981 levels. Buying pressure emerged around the 29092.07 area during a pullback, deriving technical support just above a related price objective around the 29084 area. After recently trading as high as the 30350.70 area, BTC/USD rapidly depreciated to the 28973.24 area. Stops were elected below the 29403 and 29089 levels during the acute depreciation, downside price objectives linked to recent selling pressure around the 30421.29 and 29851.28 levels. Related downside price objectives include the 28775, 29386, and 27757 levels. Additional downside price objectives include the 28213, 28137, 27757, 27430, 27338, 27312, 26348, and 26199 levels.
Below current price activity, the 28095.44 area represents the 23.6% retracement of the historical depreciating range from 69000 to 15460. Following recent upside activity, areas of technical support and potential buying pressure include the 28306, 27466, 26428, and 26272 levels. Above the market, upside price objectives include the 30526, 30611, 30762, a
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Author: Sally Ho