BTC/USD 26523 Technical Support: Sally Ho’s Technical Analysis – 23 May 2023
Bitcoin (BTC/USD) remained in a relatively tight range early in the Asian session as the pair continued to orbit the 26964.88 level, representing the 38.2% retracement of the recent appreciating range from 25810 to 27678.73. Traders pushed BTC/USD as low as the 26536.99 area during a brief pullback, representing a test of the 61.8% retracement of the same appreciating range. Following recent selling pressure, related downside price objectives include the 26308, 26093, 25885, and 25604 levels. Stops were recently elected below the 27145, 27108, 26765, 26729, 26380, 26309, and 26203 levels during the recent depreciation, downside price objectives related to recent selling pressure around the 30500, 30050, 29850, 28334, and 27647 levels. Related downside price objectives include the 25474, 25442, 25124, 24705, 24440, 23208, and 22769 levels.
Following recent price activity, areas of technical resi
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