10000 or 9000 Next for BTC/USD? Sally Ho's Technical Analysis 25 July 2020 BTC

Bitcoin (BTC/USD) fought to maintain its recent bid early in today’s Asian session as the pair continued to orbit the psychologically-important 9500 level after trading as high as the 9686 area early in yesterday’s Asian session.  Stops were elected above the 9582.92 area during the ascent, representing the 78.6% retracement of the depreciating range from 9792 to 8815.01.  Additional Stops were elected above the 9621.51 area, representing the 50% retracement of the depreciating range from 10428 to 8815.01.  Some important technical levels that represent possible upside price resistance include the 9792.00, 9811.84, 9836.99, 9880.17, 9943.93, and 9957.25 levels.  Following the pair’s recent climb, traders are paying close attention to some technical  support areas on retracements lower including the 9525.28, 9425.86, 9345.50, 9265.14, and 9165.72 levels. Traders are closely monitoring recent depreciating ranges including the move from 9792.00 to 8815.01, the move from 10018.67 to 8815.01, and the depreciation from 10428.00 to 8815.01.  Important technical levels related to these depreciating ranges include the 9416.84, 9418.79, 9561.43, 9558.87, 9582.92, 9621.51, 9734.61, 9761.09, 9811.84, 10047.33, and 10082.82 areas.  A recent appreciating range that traders are monitoring is the move from 8632.93 to 10428.00, with the 9530.47 and 9742.28 areas representing the 50% and 38.2% retracements of this appreciation.   Below current price activity, Stops have been absorbed below the 8877.48 area, a level that represents the 23.6% retracement of the recent appreciation from 3858 to 10428.  Additional downside areas of potential technical support include the 8993.44, 8695.01, 8680.35, 8654.53, and 8603.46 levels. Traders are also paying attention to multiple trading ranges including the recent appreciation from 8106.70 to 9957.25, the appreciation from 6456.00 to 10079.00, the appreciation from 5678.20 to 10079.00, the broader appreciation from 3858.00 to 10079.00, and the appreciation from 8632.93 to 10428.00.   Important technical levels related to these ranges include 9530.47, 9318.65, 9040.41, 9025.32, 8808.52, 8695.01, 8610.84, 8540.29, 8398.89, 8267.50, 7878.60, 7839.99, 7702.58, 7359.31, and others.  Chartists are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 200-bar MA (4-hourly) and above the 100-bar MA (4-hourly).  Also, the 50-bar MA (hourly) is bullishly indicating above the 200-bar MA (hourly) and above the 100-bar MA (hourly). Price activity is nearest the 50-bar MA (4-hourly) at 9275.88 and the 50-bar MA (Hourly) at 9510.14. Technical Support is expected around 9368.20/ 9143.70/ 8540.29 with Stops expected below. Technical Resistance is expected around 9792.00/ 10066.21/ 10428.00 with Stops expected above.   On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage. On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.

from Crypto Daily™ https://cryptodaily.co.uk/2020/07/10000-or-9000-next-for-btc-usd-sally-ho-technical-analysis-25-july-2020-btc-bitcoin

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