BTC/USD Extends Technical Ascent: Sally Ho’s Technical Analysis – 12 December 2022
Bitcoin (BTC/USD) sought to resume recent upside progress early in the Asian session as the pair encountered additional buying pressure around the 17141.55 area, right around the 23.6% retracement of the recent depreciating range from 17424.59 to 16679.52. Stronger technical bids emerged recently around the 17060.69 area, representing a test of the 50% retracement of the recent depreciating range from 17424.59 to 16679.52. Additional downside retracement levels in this depreciating range include the 16964 and 16855 levels, while BTC/USD bulls are eyeing the 17265.15 area as an upside target. Stops were elected below the 17193.77 and 17095.50 areas during the recent pullback, representing the 23.6% and 38.2% retracements of the recent appreciating range from 16679.52 and 17352.62. If BTC/USD is able to resume its recent upward trajectory, upside areas of potential technical resistance and se
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