BTC/USD Profit-Taking After 31803:  Sally Ho’s Technical Analysis – 15 July 2023

Bitcoin (BTC/USD) aimed to retain recent modest gains early in the Asian session as the pair encountered buying pressure around the 31083.40 level during a pullback, representing the 76.4% retracement of the depreciating range from 31525.10 to 29715.87.   Trading activity continues to orbit the 31209.91 area, right around the 23.6% retracement of a recent appreciating range from 30189.56 to 31525.10.   BTC/USD recently traded as high as the 31803.38 area before ceding some recent gains, its strongest print since June 2022.   Upside price objectives include the 32125 and 33569 areas, and Stops are cited above additional upside price objectives around the 31674, 32043, 34531, and 34658 areas. 

Following recent trading activity, areas of technical support and potential buying pressure include the 31355, 31042, 30789, 30535, 30222, 30175, 30138, 29108, 28275, 27443, 26413, and 26257 levels.  Upside price objectives related to historical buying activity include the 32043, 34531, 34658, and 35912 levels.  Below current price activity, the 28095.44 area represents the 23.6% retracement of the historical depreciating range from 69000 to 15460.  Downside price objectives related to recent selling pressure include the 29849 and 29331 levels.  Traders are observing that the 50-bar MA (4-hourly) is 

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