BTC/USD Perched Around 29370 Target:  Sally Ho’s Technical Analysis – 30 April 2023

Bitcoin (BTC/USD) traded mostly sideways early in the Asian session as the pair hovered around the 29430.67 level, a downside price objective that became technically significant following selling pressure around the 30463.84 area.   Selling pressure recently strengthened around the 29900 area after BTC/USD topped out around the 30050.66 area, and buying pressure emerged around the 28900 level.   Stops were elected above the 27929.17, 28525.56, 29007.57, and 29489.58 areas during the recent surge higher, retracement levels associated with the recent depreciating range from 31050 to 26965.14.   Stops were also elected above the 28036.96 and 29370.70 areas during the appreciation, upside price objectives associated with recent buying pressure around the 27194.51 and 28161.74 areas. 

Additional related upside price objectives include the 30420.74, 31237.11, and 32556.73 levels.  Downside price objectives related to recent depreciating ranges and levels include the 26533, 26085, 25604, and 24103 levels.  Additional upside price objectives include the 31477.37, 32501.23, 32989.19, 34583.96, 34658.69, 35222.66, 37765.28, and 38403.97 levels.   Another important price objective is the 31846.88 area, a level that represents the 50% retracement of the depreciating range from 48233.76 to 15460.   Trad

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Author: Sally Ho

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