Bitcoin Price Analysis: 17434 Target Tested

BTC/USD Looks to Sustain Multi-Week Highs:  Sally Ho’s Technical Analysis – 14 December 2022

Bitcoin (BTC/USD) encountered sturdy upward momentum early within the Asian consultation because the pair escalated upper to the 17500 degree after discovering technical reinforce across the 17089.17 degree, representing a take a look at of the 50-hour easy transferring reasonable.  Stops had been elected above the 17221.04, 17302.51, and 17434.51 ranges throughout the ascent, upside fee goals associated with purchasing force that emerged across the 16875.83 and 17089.17 spaces.  Additional upside fee goals associated with this appreciating vary come with the 17779.81 and 17872.75 ranges.  Additional technically important upside retracement ranges come with the 17791, 18495, 19199, 20070, and 20201 ranges. 

Below present fee job, BTC/USD bears are eyeing a imaginable take a look at of latest two-year lows across the 15460 house, established after Stops had been elected underneath the 15512 house.  Notably, the 15512 degree represented an actual bearish fee function according to promoting force that reinforced across the 21478.80 and 18495.50 spaces.  Associated problem fee goals underneath present fee job come with the 13369, 8837, and 7538 ranges.  Technicians proceed to eye the 14500.15 and 10432.73 spaces as main problem goals, and extra problem fee goals come with the 14613, 10727, and 9682 ranges, spaces which are associated with promoting force that intensified across the 20894.96 and 18495.50 spaces.  Traders are gazing that the 50-bar MA (4-hourly) is bullishly indicating above the 1200-bar MA (4-hourly) and above the 200-bar MA (4-hourly).  Also, the 50-bar MA (hourly) is bearishly indicating underneath the 100-bar MA (hourly) and above the 200-bar MA (hourly).

Price job is nearest the 50-bar MA (4-hourly) at 17069.47 and the 100-bar MA (Hourly) at 17137.61.

Technical Support is anticipated round 14500.15/ 13369.11/ 10727.75 with Stops anticipated underneath.

Technical Resistance is anticipated round 18495.40/ 19199.48/ 20070.64 with Stops anticipated above.  

On 4-Hourly chart, SlowK is Bullishly above SlowD whilst MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bullishly above SlowD whilst MACD is Bullishly above MACDAverage.                                   

Disclaimer: Sally Ho’s Technical Analysis is equipped through a 3rd celebration, and for informational functions handiest. It does no longer replicate the perspectives of Crypto Daily, neither is it meant for use as criminal, tax, funding, or monetary recommendation.