BTC/USD Volatility Favoring Downside: Sally Ho’s Technical Analysis – 15 August 2023
Bitcoin (BTC/USD) experienced elevated downside risk early in the Asian session as the pair depreciated to the 29072.96 area after selling pressure expanded around the 29447.60 area, representing another failed test of the 76.4% retracement of the depreciating range from 30350.70 to 26501.59. This interday high also represented a test of the 50% retracement of the recent appreciating range from 28660.53 to 30222, while the move to multi-session lows around the 29072 area represented a test of the 76.4% retracement of the same appreciating. Technical trading was recently evident when buying pressure strengthened around the 28754 area, a previous downside price objective associated with selling pressure around the 29526 and 29344 areas. Large Stops are cited below the 27991.29 area, representing the 23.6% retracement of the broader appreciating range from 15460 to 31862.21. Additional a
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