BTC/USD Bears Extend Their Sway: Sally Hos Technical Analysis 5 February 2022 BTC

BTC/USD Bears Extend Their Sway: Sally Ho’s Technical Analysis 5 February 2022 BTC

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BTC/USD Bears Extend Their Sway: Sally Ho's Technical Analysis 5 February 2022 BTC | کریپتالین |

Bitcoin (BTC/USD) remained on the defensive early in today’s Asian session as the pair has failed to gain traction above the ۴۰۲۵۵ level, representing the ۳۸.۲% retracement of the depreciating range from ۵۲۱۰۰ to ۳۲۹۳۳.۳۳.   Technicians observe that the ۳۸۸۳۲.۷۱ area represents a downside price objective related to selling pressure around the ۶۹۰۰۰ and ۵۲۱۰۰ areas.  Buying pressure recently emerged around the ۳۶۶۵۷ area, representing a test of the ۳۸.۲% retracement of the recent appreciating range from ۳۲۹۳۳.۳۳ to ۳۸۹۶۰.  Areas of technical resistance and potential selling pressure include the ۴۰۰۲۳, ۴۰۸۴۲, ۴۱۵۸۳, ۴۱۸۵۶, ۴۲۵۴۴, ۴۳۱۳۲, ۴۳۲۱۱, ۴۳۷۷۸, ۴۴۶۵۵, ۴۵۲۱۳, ۴۶۲۱۹, ۴۶۴۸۷, ۴۶۶۰۰, ۴۷۷۲۶, and ۴۸۱۳۵ levels.

One downside price objective related to selling pressure around the ۵۲۱۰۰ and ۴۷۰۷۶.۵۵ levels is the ۲۸۶۲۵.۹۳ area.  Stops are likely in place below the ۳۱۶۳۹.۴۷ area, a downside price objective related to selling pressure that intensified around the ۵۷۶۷۰.۶۸ area.  Additional downside price objectives include the ۲۹۵۱۴, ۲۷۷۲۱, ۲۵۸۳۹, and ۲۵۲۱۷ levels.   Traders are observing that the ۵۰-bar MA (4-hourly) is bearishly indicating below the ۱۰۰-bar MA (4-hourly) and below the ۲۰۰-bar MA (4-hourly).  Also, the ۵۰-bar MA (hourly) is bullishly indicating above the ۱۰۰-bar MA (hourly) and above the ۲۰۰-bar MA (hourly).

Price activity is nearest the ۵۰-bar MA (۴-hourly) at ۳۷۵۹۰.۴۳ and the ۲۰۰-bar MA (Hourly) at ۳۷۵۵۶.۸۷.

Technical Support is expected around ۳۱۶۳۹.۴۷/ ۲۹۵۱۴.۰۲/ ۲۷۲۷۱.۰۲ with Stops expected below.

Technical Resistance is expected around ۴۱۵۸۳.۳۹/ ۴۲۵۴۴.۷۰/ ۴۴۶۵۵.۰۸ with Stops expected above.  

On ۴-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.

On ۶۰-minute chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.                                                                                                                                               

 

Disclaimer: This trading analysis is provided by a third party, and 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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