BTC/USD Bulls Eyeing 27436:  Sally Ho’s Technical Analysis – 25 August 2023

Bitcoin (BTC/USD) attempted to maintain a bid early in the Asian session as the pair awaited technical guidance following recent upward pressure that strengthened around the 25350 and 25796.47 levels and continued until the 26818.28 area.   Related upside price objectives include the 26944.02 and 27436.41 areas.  Stops were elected above the 28778.57 area during the ascent, a level that represents the 50% retracement of the depreciating range from 31862.21 to 21694.92.  Areas of technical support and potential buying pressure in appreciating ranges from the 15460 and 19568.52 levels include the 23661, 22793, and 21725 levels.   Following recent selling pressure, areas of technical resistance and potential selling pressure include the 26798, 27139, 27728, 27766, 28316, 28548, 29154, 29330, and 30443 levels. 

The recent fresh multi-month low around the 25234.76 area represented a test of a major downside price objective around the 25128.94 area that is associated with selling pressure that increased around the 31862.21 and 30421.29 levels in July.   Major Stops were elected below the 27991.29 and 27620.46 areas during the recent depreciation, downside price objectives linked to recent selling pressure around the 31862.21, 30222

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