Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: Btceth01 on September 05, 2022, 09:34:40 AM
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BTC/USD Rejected by 19922: Sally Ho’s Technical Analysis – 5 September 2022
Bitcoin (BTC/USD) extended its depreciation early in the Asian session as the pair came off to the 19588.27 area before failing to sustain a break of the 19922.06 area, representing a test of the 61.8% retracement of the appreciating range from 19513.74 to 20582.64. Some upside activity followed that saw BTC/USD ascend to the 19915.16 area, representing a test of the 38.2% retracement of the depreciating range from 20444 to 19588.27. BTC/USD lost 18% of its market valuation in August and has shed around 81% year-to-date in 2022. Traders were unable to get BTC/USD to sustain a short-lived break above the 24558.33 level during the month of August, an area that represents the 50% of the depreciating range from 31549.21 to 17567.45. Following the recent selling pressure, additional significant technical areas on the downside include the 16990.14, 14500.15, and 10432.73 areas. more info (https://cryptonews.net/11830209/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared)