BTC/USD Stops Elected Above 29298: Sally Ho’s Technical Analysis – 6 May 2023
Bitcoin (BTC/USD) worked to advance recent gains early in the Asian session as the pair appreciated to the 29555 area after Stops were elected above the 29489.58 area, representing the 61.8% retracement of the depreciating range from 31050 to 29965.14. Stops were also elected above the 29298.31 level during the appreciation, an upside price objective associated with buying pressure around the 27664.31 and 28122 levels, and a related upside price objective remains the 29803.05 level. Stops were also recently elected above the 27929.17, 28525.56, 29007.57, and 29489.58 areas during the appreciation higher, retracement levels associated with the recent depreciating range from 31050 to 26965.14.
Above the market, upside price objectives relate to recent buying pressure around the 27194.51 and 28161.74 areas include the 30420.74, 31237.11, and 32556.73 levels. Downside price objectives related to
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