BTC/USD Caught in Recent Range: Sally Ho’s Technical Analysis – 16 November 2022
Bitcoin (BTC/USD) continued to trade in a recent trading range early in the Asian session as the pair did not stray far from the 16920.16 level, representing the 23.6% retracement of the recent depreciating range from 21478.80 to 15512. Selling pressure emerged around the 17169.68 area during a brief rally higher, right around the 38.2% retracement of the recent appreciating range from 15512 to 18140.62. Buying pressure then emerged around the 16154 area during a subsequent pullback, right around the 76.4% retracement of the same appreciating range. The recent low around the 15512 area following the massive sell-off represents an exact downside price objective associated with recent selling pressure that intensified around the 21478.80 and 18495.50 areas. This technical significance of this price objective that eventually served as the exact relative two-year low during the ongoing move w
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