Bitcoin Price Analysis: 16879 is holding now

BTC/USD Seeking Direction: Sally Ho’s Technical Analysis – December 5, 2022

Bitcoin (BTC/USD) expected recent technical guidance early in Asian increased as the pair continued lane the 17,000 numbers after peaks round 17158.42a test of 76.4% retracement of depreciation area from 17317.80 to 16791.02. Buying pressure later appeared around 16890.11 area during a withdrawwhich represents a test of 23.6% retracement of appreciate range from 15460 to 17317.80. If BTC/USD is able to resume it upwards trajectory, upside areas with potential technical resistance and sales pressure including 17791, 18495, 19199, 20070and 20201 levels. If recently upward momentum reverses, traders can test recently two-year low round 15460 level established after Stopping our selected below the 15512 area, an earlier relatively low which represented a exact bearish price target based on sales pressure that strengthened round 21478.80 and 18495.50 areas.

After the last one appreciation from 15992.64, technical support and buying pressure is possible around 16811, 16655, 16498, 16305and 16276 levels. Associate downside price target under current price activity includes 13369, 8837and 7538 levels. Technicians continue to watch 14500.15 and 10432.73 areas such as large downside goaland additions downside price target include 14613, 10727and 9682 levelsareas related to sales pressure that intensified round 20894.96 and 18495.50 areas. Traders observe that 50 bar MA (4 hours) is bearishly indicates below the 200 bar MA (4 hours) and above the 100-bar MA (4-hourly). Also 50-bar MA (hourly) is bullishly indicates above the 100-bar MA (hourly) and above the 200-bar MA (hourly).

Price activity is closest 50-bar MA (4-hour) at 16696.47 and 50-bar MA (Every hour) at 16971.69.

Technical support expected around 14500.15/ 13369.11/ 10727.75 with Stopping expected below.

Technical resistance expected around 18495.40/ 19199.48/ 20070.64 with Stopping expected above.

On 4-hour diagram, SlowK is Bearishly during SlowD while MACD is Bearishly below the MACDA average.

On 60 minutes diagram, SlowK is Bullishly over SlowD while MACD is Bearishly below the MACDA average.

Disclaimer: Sally Ho’s technical analysis is provided by a third party and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment or financial advice.

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