BTC/USD Orbits 30000 Figure in Ongoing Rout: Sally Ho’s Technical Analysis 12 May 2022 BTC

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– BTC/USD remained near ten-month lows early in the Asian session as the pair orbited the 30000 figure after recently trading as low as the 29735.05 area.

– Stops were recently elected below several price objectives and downside retracement levels, including the 32648, 32246, 31942, 31717, 31115, 30943, and 30435 areas.

– These downside targets are related to selling pressure that strengthened around the 44000, 47200, 69000, 48240, and 47469.40 levels.

– Ongoing negative technical sentiment worsened after Stops were elected below a range of technical levels over the past couple of weeks from the 37450 level through the 33098 area.

– If BTC/USD continues to appreciate, traders are eyeing additional downside price objectives around the 28927, 28426, 27455, 27103, and 26411 areas.

– Significant selling pressure hastened around the 31717, 31364, and 31289 areas, upside technical price objectives and retracement levels related to historical buying pressure around the 3858 area.

– Traders are observing that the 50-bar MA (4-hourly) is bearishly indicating below the 100-bar MA (4-hourly) and below the 200-bar MA (4-hourly). Also, the 50-bar MA (hourly) is bearishly indicating below the 100-bar MA (hourly) and below the 200-bar MA (hourly).

sally hos technical analysis 11 may 2022 BTC/USD Orbits 30000 Figure in Ongoing Rout: Sally Ho's Technical Analysis 12 May 2022 BTC
BTC/USD Orbits 30000 Figure in Ongoing Rout: Sally Ho's Technical Analysis 12 May 2022 BTC 2

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