BTC/USD Fading Under Pressure: Sally Ho’s Technical Analysis – 22 November 2022
Bitcoin (BTC/USD) encountered renewed promoting force early within the Asian consultation because the pair orbited the 16000 determine after buying and selling as low because the 15868.17 degree, its weakest print in different buying and selling periods. Traders have been not able to maintain a up to date smash above the 17136.49 house, representing the 50% retracement of the new appreciating vary from 15512 to 18140.62. BTC/USD not too long ago depreciated to the 15512 house, a two-year low that represented an precise bearish payment function in response to promoting force that reinforced across the 21478.80 and 18495.50 spaces. Technical affirmation and validation came about when Stops have been elected beneath corresponding problem payment targets on the 17573.96 and 16651.45 spaces. Associated problem payment targets beneath present payment job come with the 13369, 8837, and 7538 ranges.
The fresh depreciation intensified after Stops have been elected beneath the 16990, 16966, and 16503 ranges, spaces related to ancient appreciating levels that commenced across the 3858 and 9819 ranges. Technicians proceed to eye the 14500.15 and 10432.73 spaces as main problem objectives. Additional problem payment targets 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. Following the new transfer decrease to two-year lows, spaces of attainable technical resistance come with the 17791, 18495, 19199, 20070, and 20201 ranges. Traders are staring at that the 50-bar MA (4-hourly) is bearishly indicating beneath the 200-bar MA (4-hourly) and beneath the 100-bar MA (4-hourly). Also, the 50-bar MA (hourly) is bearishly indicating beneath the 100-bar MA (hourly) and beneath the 200-bar MA (hourly).
Price job is nearest the 50-bar MA (4-hourly) at 16505.09 and the 50-bar MA (Hourly) at 16614.07.
Technical Support is predicted round 15512/ 13369.11/ 10727.75 with Stops anticipated beneath.
Technical Resistance is predicted round 18495.40/ 19199.48/ 20070.64 with Stops anticipated above.
On 4-Hourly chart, SlowK is Bearishly beneath SlowD whilst MACD is Bearishly beneath MACDAverage.
On 60-minute chart, SlowK is Bullishly above SlowD whilst MACD is Bearishly beneath MACDAverage.
Disclaimer: Sally Ho’s Technical Analysis is supplied by means of a 3rd celebration, and for informational functions simplest. It does now not mirror the perspectives of Crypto Daily, neither is it supposed for use as criminal, tax, funding, or monetary recommendation.
Source By https://cryptodaily.co.united kingdom/2022/11/bitcoin-price-analysis-bears-flip-script-22-november-2022