Did BTC/USD Test 30000 or 40000 Before: Sally Ho's Technical Analysis June 14, 2021 BTC

Bitcoin (BTC/USD) remained under pressure at the start of today's Asian session as the pair continued to trade below the psychologically important 40000 figure after the recent loss from 40440.95. During the sharp drop to multi-day lows, stops below the 35501.71 and 33823.58 levels were recently taken, representing 38.2% and 23.6% retracements of the depreciation range from 42605 to 31111. Recently, buying pressure has emerged around 31004.95, an indication that the market may not be willing to test the psychologically important 30000 figure just yet. Stops were also recently selected below a series of bearish price targets, including areas 40418.15 and 32856, levels related to selling pressure emerging around area 64899. Additional stops were selected below the 31112.66 area, which fell to 30000 during the last collision and represented a 78.6% retracement of the boost range from 21913.84 to 64899. Many technical support levels on wider historical ranges, including 51375, also softened during the last sharp drop. , 51245, 50527, 48478, 47698, 47136, 41581, 40303, and 39604 fields. Between the upward retracement levels and potential technical resistance areas are 44796.10, 48287.98, 52608.44 and 53259.47. The recent lifetime high of 64899 represented a test of the 64835.59 region, a technically significant upside price target based on developing buying pressure around the 16200 region. Potential technical support areas include 29156, 28747.28, 28387, 27706.27, 27317.26, 27175.66, 26621.59 and 26249. Traders note that the 50-bar (4-hour) MA is bearish below the 200-bar (4-hour) MA. ) and below 100 bar MA (4 hours). Also, the 50 bar (per hour) MA gives bearish indication below the 100 bar (hours) MA and below the 200 bar (hours) MA. Price activity is closest to the 50 bar (4-hours) MA at 36132.12 and the 200 bar MA (on the hour) at 36109.43. Around 29 technical support expected

Join the Discussion

  • BrokerEUR/USD
    FX Pro 0.91pips. (variable) margin: 3.33%
    InterTrader 0.6pips (fixed) margin: 3.33%
  • Back to top