BTC/USD Major Bearish 24568 Risk:  Sally Ho’s Technical Analysis – 16 June 2023

Bitcoin (BTC/USD) extended its ongoing slide lower early in the Asian session as the pair traded below the 25000 figure for the first time since March 2023, descending to the 24750 level.  Stops were elected below the 25142.29 area, a previous upside price objective related to legacy buying pressure that emerged around the 3858 area.  Large Stops are in place below similar levels around the 24660 and 24568 levels, and bears are eyeing the 23196.08 area as a significant downside price objective.  Above the market, Stops are cited above the 26544, 26912, 27281, 27737, and 27805 levels.   Below the market, downside price objectives include the 25323.24 and 24680.87 levels.  Notably, the 25309.26 area represents the 50% retracement of the appreciating range from 19568.52 to 30825.30.  Stops are cited below major retracement levels linked to the 19568.52 and 15460 levels, including the 25094, 23954, 23255, 22278, 22025, 21415, 19139, and 18796 areas.

Additional downside price objectives include the 24440, 23208, and 22769 levels.  Following recent price activity, areas of technical resistance and potential selling pressure include the 27528, 27737, 27805, 28200, 28473, and 28873 levels.  Upside retracement levels in recent depreciating ranges include the 28700

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