BTC/USD Lacking Technical Sentiment: Sally Ho’s Technical Analysis – 7 March 2023
Bitcoin (BTC/USD) remained entrenched in a very tight range early in the Asian session as the pair has failed to move above the 22587.46 area, a downside price objective linked to selling pressure that intensified around the 24132.67 area. The ongoing tight range evidences a lack of dominant technical sentiment involving BTC/USD. Strong selling pressure recently saw BTC/USD depreciate below some major downside price objectives around the 22988, 22943, 22832, 22770, 22587, 22277, 22210, and 22074 levels. Selling pressure slowed when BTC/USD reached the 21988.02 area, a test of the 21949 area that represents a downside price objective. Stops were elected below the 22292 and 22205 levels during the recent pullback, retracement levels related to an appreciating range that commenced with buying pressure around the 21366 levels. Additional downside price objectives include the 21949, 21919,
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