BTC/USD Extends Collapse Below 20000:  Sally Ho’s Technical Analysis – 11 March 2023

Bitcoin (BTC/USD) remained at the mercy of bears early in the Asian session as the pair faced challenges in recovering from recent lows around the 19568.52 level, its weakest print since mid-January.  Stops were elected below the 19886.03 level during the descent, a downside price objective related to selling pressure around the 24132.67 area.  Stops were also elected below the 19646.70 area during the ongoing pullback, a downside price objective linked to selling pressure around the 24600.95 area.  Additional downside price objectives include the 19266, 19132, 19106, 19006, 18981, 18919, 18822, 18116, 17720, 17523, 17457, 17230, and 17196 areas.

Following the recent selling pressure, upside retracement levels and areas of potential selling pressure include the 20918, 21753, 22428, 23103, 23938, and 24064 levels.  The recent multi-month high around 25288.88 represented a test of the 25455 level, an upside price objective related to historical buying pressure around the 16326.16 and 20333.33 areas.  Below current price activity, technically significant areas include the 15900, 15512, 15313, 14500, 14364, 13369, 10727, 10432, 9682, 8837, and 7538 levels.  Traders are observing that the 50-bar MA (4-hourly) is bearishly indicating below the 100-bar MA (

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