BTC/USD Orbiting 29372 Objective: Sally Ho’s Technical Analysis – 14 August 2023
Bitcoin (BTC/USD) remained confined to a very tight rangeearly in the Asian session as the pair continued to orbit the 29372.20 area, a previous upside price objective associated with historical buying pressure around the 24750 and 26044.70areas. Selling pressure has recently intensifed around the 29709 and 29534 areas while buying pressure emerged around the 29213 area, underscoring the recent tight range.
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 areas of technical support and potential buying pressure in these appreciating ranges include the 27466, 27166, 26428, 26272, and 25715 areas
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