top of page
  • Writer's pictureDavid Manion

Bitcoin Price Analysis: Orbiting 16849 - 22 December 2022

BTC/USD Light Flurry of a Rally: Sally Ho’s Technical Analysis – 22 December 2022

Bitcoin (BTC/USD) sought to add to modest gains early in the Asian session as the pair was back orbiting the 16849 level, an area that represents a price objective related to selling pressure that recently emerged around the 18385.36 and 17525 levels.

This follows a brief move higher to the 17060.86 area, a move that represented a test of the 100-bar, 4-hourly simple moving average. Stops were recently elected below the 16375.18 level during a move lower, an area that is a downside price objective technically related to selling pressure that recently emerged around the 18385.36 and 17525 levels. Additional related downside price objectives related to these areas of selling pressure include the 15900, 15313, and 14364 levels. If BTC/USD reclaims some upside momentum, additional technically significant upside retracement levels include the 18495, 19199, 20070, and 20201 levels.

Below current price activity, BTC/USD bears are eyeing a possible test of recent two-year lows around the 15460 area, established after Stops were elected below the 15512 area.

Notably, the 15512 level represented an exact bearish price objective based on selling pressure that strengthened around the 21478.80 and 18495.50 areas. Below these areas, technically significant levels include the 14613, 14500.15, 13369, 10432.73, 10727, 9682, 8837, and 7538 levels. Traders are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 200-bar MA (4-hourly) and above the 200-bar MA (4-hourly). Also, the 50-bar MA (hourly) is bearishly indicating below the 200-bar MA (hourly) and above the 100-bar MA (hourly).

Price activity is nearest the 200-bar MA (4-hourly) at 16829.63 and the 50-bar MA (Hourly) at 16749.43.

Technical Support is expected around 14500.15/ 13369.11/ 10727.75 with Stops expected below.

Technical Resistance is expected around 18495.40/ 19199.48/ 20070.64 with Stops expected above.

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

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

Disclaimer: This is a paid release that was not written by Crypto Online News. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Crypto Online News. Crypto Online News does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

Recent Posts

See All
bottom of page