BTC/USD Confined to Tight Range: Sally Ho’s Technical Analysis 29 November 2021 BTC

BTC/USD Confined to Tight Range:  Sally Ho's Technical Analysis 29 November 2021 BTC (*29 *)Bitcoin (BTC/USD) prolonged laterally trading task early in the Asian session as both proceeded to sell a tight variety around the 53835.20 location, standing for the 38.2% retracement of the valuing variety from 29301.56 to 69000  Previous technical assistance around the 55377 location has actually come to be temporary technical resistance, a bearish indicator that might lead to extra near-term weak point  Additional drawback retracement degrees consist of the 49150.78, 44466.36, 38670.39, and also 37797.03 locations.  Stops are most likely in position listed below the 53150 location, standing for the 50% retracement of the valuing variety from 37300 to 69000

(*29 *)Following both’& rsquo; s current volatility, drawback retracement degrees and also locations of possible technical assistance consist of the 53150, 52598, 49409, and also 49150 degrees  Traders are observing that the  50-bar MA (4-hourly) is  bearishly suggesting listed below the 100-bar MA (4-hourly) and also  listed below  the  200-bar MA (4-hourly).   Also, the 50-bar MA (per hour) is bearishly suggesting listed below the 200-bar MA (per hour) and also listed below the 100-bar MA (per hour)

(*29 *)Price task is local the  50-bar MA ( 4-hourly) at 56804.57 and also the  50-bar MA (Hourly) at 54499.28

(*29 *)Technical Support  is anticipated about  53150/ 51245.86/ 49022.22  with Stops anticipated below.

(*29 *)Technical Resistance is anticipated about  69000/ 69449.40/ 77565.60 with Stops anticipated above.  

(*29 *)On  4-Hourly graph,  SlowK  is Bullishly over SlowD while  MACD is Bullishly over MACDAverage.

(*29 *)On  60-minute graph,  SlowK is Bearishly listed below SlowD while  MACD is Bullishly over MACDAverage                                                                                                                                               

(*29 *) 

(*29 *)Disclaimer: This trading analysis is supplied by a 3rd party, and also for educational objectives just. It does not show the sights of, neither is it designated to be made use of as lawful, tax obligation, financial investment, or monetary recommendations.

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John Lesley is an experienced trader specializing in technical analysis and forecasting of the cryptocurrency market. He has over 10 years of experience with a wide range of markets and assets - currencies, indices and commodities.John is the author of popular topics on major forums with millions of views and works as both an analyst and a professional trader for both clients and himself.

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