Bitcoin (BTC) price analysis: Bears Test 34907 Specs – November 16, 2023
Bitcoin (BTC/USD) continued to trade very well technically early in Asian session while the couple waited technical instructions after Bear tested The 34757.45 Area representing the 23.6% retracement of Estimate range out of 24900 To 34907.64. Stop was selected below The 34907 area as a dealer checked The 34658.69 levela recent one Price target upwards with reference to Buying pressure around the 15460 And 19568 levels. Large Stop were too selected below The 35301 area during the retreatA Price target down in connection with the most recent Selling pressure around the 37548 And 37067 levels. Despite the withdraw, BTC/USD remains within striking distance of its last 18-month price high around the 37999 level. Significant Stop were recently chosen above The 34965.04, 37165.61And 37516.08 levels during the recognition, Price targets upwards linked to the 15460, 19568.52, 24750And 24900 levels. Additionally Price targets upwards in these Estimate areas include the 38602, 42721And 44481 areas.
Large Stop were also recently chosen above The 35912.28 Area representing the 38.2% retracement of Depreciation area from that All-time high from 69000 To 15460. Additionally major Stop was triggered above The 37362.84 Area during the steep slope climb up to eighteen months Heightsa Price target upwards with reference to historical buying pressure around the 3858 And 15460 levels. Following the most recent recognitionAreas of technical support and potential Buying pressure include the 33499, 32873, 32561, 31351And 30837 levels. TWheelers observe that the 50 bar MA (4 hourly) Is bullish, which is indicated above The 100 bar MA (4 hourly) And above The 200 bar MA (4-hourly). Also the 50 bar MA (hourly) Is bearish show below The 100-bar MA (hourly) And above The 200-bar MA (hourly).
Price activity is closest 100 bar MA (4-hourly) at 35443.37 and that 200 bar MA (Hourly) at 36247.93.
Technical support is expected around 31238.97/ 30028.62/ 28818.26 with Stop expected below.
Technical resistance is expected around 38584.16/ 39596.82/ 42721.31 with Stop expected above.
At 4-hourly Diagram, SlowK Is Bullish about SlowD while MACD Is Bearish below MACDAverage.
At 60 minutes Diagram, SlowK Is Bearish under SlowD while MACD Is Bearish below MACDAverage.
Technical analysis by Sally Ho
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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 as legal, tax, investment or financial advice.
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