BTC/USD Again Tests 29320 Technicals:  Sally Ho’s Technical Analysis – 29 July 2023

Bitcoin (BTC/USD) was confined to a relatively tight range early in the Asian session as the pair ceded gains after reaching the 29320.14 level, representing another test of the upside price objective related to buying pressure around the 28850 and 28981.16 levels.  Traders are monitoring the recent depreciating range from 31862.21 to 28850 with upside retracement levels around the 30000, 30356, 30711, 31151, and 31217 areas.  Stops were recently elected above the 29462.90 area, an upside price objective associated with buying pressure around the 28850 and 28981 levels.   Above the market, upside price objectives include the 30526, 30611, 30762, and 31145 areas.  Upside price objectives related to other levels of buying pressure include the 32125 and 33569 areas, and Stops are cited above additional upside price objectives around the 32043, 34531, 34658, and 35912 areas. 

Below the market, downside price objectives include the 28213, 28137, 27757, 27430, 27338, 27312, 26348, and 26199 levels.   Also, 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

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Author: Sally Ho

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