BTC/USD Bears Remain in Control Below 36000: Sally Ho’s Technical Analysis 9 May 2022 BTC

-Bitcoin (BTC/USD) continued to suffer from bearish technical sentiment early in the Asian session as the pair remained well below the 37000 figure after recently collapsing from the 40038 area and printing as low as the 34201 area.

-This recent low represented a test of the 76.4% retracement of the appreciating range from 25722.55 to 61788.45.

-Significant Stops were recently elected below the 37450, 37151, 36758, 36545, 36351, 36208, 35995, 35842, and 35775 areas, downside price objectives related to selling pressure that originated around the 47469, 47200, 48240, and 43443 levels.

-Additional downside price objectives include the 35083, 34693, 34387, 34047, 33788, 33526, 33098, and 32648 areas.

-Recent price activity has seen BTC/USD trade below the 38780.48 area, a level that represents the 61.8% retracement of the appreciating range from 32933.33 to 48240.

-Recent relative lows have also been below the 39600 area, an upside price objective related to historical buying pressure that emerged around the 29301.56 area.

sally hos technical analysis 8 may 2022 1 BTC/USD Bears Remain in Control Below 36000: Sally Ho's Technical Analysis 9 May 2022 BTC
BTC/USD Bears Remain in Control Below 36000: Sally Ho's Technical Analysis 9 May 2022 BTC 2

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