BTC/USD Continues to Consolidate: Sally Ho’s Technical Analysis 24 November 2021 BTC

BTC/USD Continues to Consolidate:  Sally Ho's Technical Analysis 24 November 2021 BTC

Bitcoin (BTC/USD) remained on the defensive early within the Asian session because the pair was continued to expertise promoting strain under the 60000 determine.  Selling strain lately emerged across the 60070 stage, representing a take a look at of the 78.6% retracement of the latest appreciation from 57653.88 to 69000.  The 60734.25 stage stays vital technical resistance for BTC/USD, representing the 38.2% retracement of the latest depreciating vary from 69000 to 55625Strong promoting strain emerged final week after BTC/USD traded as excessive because the 66339.90 stage, representing a take a look at of the 23.6% retracement of the appreciating vary from 57653.88 to 69000

Stops have been elected under many retracement ranges and areas of potential technical assist in the course of the latest pullback, together with the 65430, 64562, 63515, 63221, 61985, 61436, 60436, 59652, and 58887 ranges.  Following the pair’s latest volatility, draw back retracement ranges and areas of potential technical assist embrace the 53835, 53150, 52598, 49409, and 49150 ranges.  Traders are observing that the 50-bar MA (4-hourly) is bearishly indicating under the 100-bar MA (4-hourly) and under the 200-bar MA (4-hourly).   (*24*), the 50-bar MA (hourly) is bearishly indicating under the 200-bar MA (hourly) and above the 100-bar MA (hourly).

Price exercise is nearest the 50-bar MA (4-hourly) at 60188.24 and the 100-bar MA (Hourly) at 58250.90.

Technical Support is predicted round 53997.15/ 51245.86/ 49022.22 with Stops anticipated under.

Technical Resistance is predicted round 69000/ 69449.40/ 77565.60 with Stops anticipated above.  

On 4-Hourly chart, SlowK is Bearishly under SlowD whereas MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bullishly above SlowD whereas MACD is Bearishly under MACDAverage.                                                                                                                                               


Disclaimer: This buying and selling evaluation is offered by a 3rd occasion, and for informational functions solely. It doesn’t replicate the views of, neither is it meant to be used as authorized, tax, funding, or monetary recommendation.

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John Lesley/ author of the article

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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