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Bitcoin Price Analysis: BTC Bears in Command

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BTC/USD Sharply Depreciates:  Sally Ho’s Technical Analysis – 9 November 2022

Bitcoin (BTC/USD) remained susceptible early in the Asian consultation because the pair traded again underneath the psychologically-important 20000 determine and cratered to its weakest print since 25 October.  Stops have been elected underneath the 20373 and 20341 spaces right through the intense depreciation, retracement ranges related to the hot appreciating vary from 20032.02 to 21478.80.   Stops intensified underneath the 19804.90 and 19409.88 spaces, representing the 50% and 61.8% retracements of the hot broader appreciating vary from 18131 to 21478.80, as BTC/USD plummeted to the 19344.75 house.  Additional retracement ranges and spaces of doable technical strengthen come with the 19324, 19262, 18921, and 18847 ranges. BTC/USD lately traded as prime because the 21478.80 house, its most powerful print since mid-September and a check of the 50% retracement of the vast depreciating vary from 25214.57 to 18131

Additional upside retracement ranges in depreciating levels from the 48240, 32371, and 25214.57 ranges come with the 22508, 23542, 23579, 23698, 25236, 25251, and 26931 spaces.  BTC/USD bears practice higher Stops gathering underneath the 17803, 17701, 16966, and 16503 spaces, important technical ranges associated with ancient upside power across the 3858 and 9819 ranges. Additional important technical spaces at the problem come with the 16990.14, 14500.15, and 10432.73 spaces.  Stops also are gathering underneath the 19711 and 19355 spaces.  Traders are staring at that the 50-bar MA (4-hourly) is bullishly indicating above the 100-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).

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Price task is nearest the 200-bar MA (4-hourly) at 19873.67 and the 50-bar MA (Hourly) at 20632.87.

 

Technical Support is anticipated round 16990.14/ 14500.15/ 10432.73 with Stops anticipated underneath.

Technical Resistance is anticipated round 25256.96/ 27455.20/ 32383.96 with Stops anticipated above.  

On 4-Hourly chart, SlowK is Bearishly underneath SlowD whilst MACD is Bearishly underneath MACDAverage.

On 60-minute chart, SlowK is Bearishly underneath SlowD whilst MACD is Bearishly underneath MACDAverage.                                   

 

Disclaimer: Sally Ho’s Technical Analysis is supplied by way of a 3rd birthday party, and for informational functions handiest. It does now not replicate the perspectives of Crypto Daily, neither is it meant for use as prison, tax, funding, or monetary recommendation.

Source By https://cryptodaily.co.united kingdom/2022/11/bitcoin-price-analysis-btc-bears-in-command-9-november-2022

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