BTC/USD Orbiting 26121 Technicals: Sally Ho’s Technical Analysis – 21 August 2023
Bitcoin (BTC/USD) continued to orbit a technical level early in the Asian session as the pair traded around the 26121.32 area, right around the 50% retracement of the recent appreciating range from 25234.76 to 27007.87. BTC/USD recently came off to the 25234.76 area, its weakest print since mid-June. This fresh multi-month low represented a test of a major downside price objective around the 25128.94 area that is associated with selling pressure that increased around the 31862.21 and 30421.29 levels in July. Major Stops were elected below the 27620.46 area during the decline, another downside price objective linked to recent downward pressure around the 30222 and 29665.27 areas. Major Stops were also elected below the 27991.29 area, representing the 23.6% retracement of the broader appreciating range from 15460 to 31862.21. Areas of technical support and potential buying pressure in
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