BTC/USD to Break Out in August? Sally Ho’s Technical Analysis 1 August 2021 BTC

BTC/USD to Break Out in August?  Sally Ho's Technical Analysis 1 August 2021 BTC

Bitcoin ( BTC/USD) continued to trade above the psychologically-important 40000 figure early in the Asian session following the set’& rsquo; s test of the 42414.61 level late last month.  Stops were chosen above the 42311.77 level throughout the gratitude to multi-week highs, a location that represents the 50% retracement of the diminishing variety from 58359.53 to 26264   BTC/USD signed up gains of 18.5% in July and has notched gains of more than 43% year-to-date 

Above current locations of technical significance, extra upside retracement levels consist of the 43016, 43549.50, 44017.07, 44336.95, and 45708.51 locations.  Following the current climb to multi-week highs, drawback rate retracement levels consist of 39319.93, 37405.42, 35858.09, 34310.75, and 32396.24  Traders are  observing that the  50-bar MA (4-hourly) is  bullishly showing above the 100-bar MA (4-hourly) and  above  the  200-bar MA (4-hourly).   Also, the 200-bar MA (per hour) is bullishly showing above the 100-bar MA (per hour) and above the 200-bar MA (per hour)

Price activity is closest the  50-bar MA ( 4-hourly) at 37707.25 and the  50-bar MA (Hourly) at 40284.27

Technical Support  is anticipated around  28747.28/ 27706.27/ 27175.66  with Stops anticipated below.

Technical Resistance is anticipated around  46000/ 51569.56/ 64899 with Stops anticipated above.  

On  4-Hourly chart,  SlowK  is Bearishly listed below SlowD while  MACD is Bullishly above MACDAverage.

On  60-minute chart,  SlowK is Bearishly listed below SlowD while  MACD is Bearishly listed below MACDAverage                                                                                                                                               

 

Disclaimer: This trading analysis is supplied by a 3rd party, and for informative functions just. It does not show the views of, nor is it planned to be utilized as legal, tax, financial investment, or monetary guidance.

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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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