BTC/USD Off 9% in September: Sally Ho's Technical Analysis 1 October 2021 BTC

Bitcoin (BTC/USD) traded around a technical level early in the Asian session as the pair tested the 43060.80 area, representing the 38.2% retracement of the recent appreciating range from 39600 to 45200.  Traders observe technical resistance around the 44697.77 area, representing the 38.2% retracement of the depreciating range from 52944.96 to 39600, with additional upside retracement areas around the 46272, 47847, 49795, and 50089 levels.  BTC/USD lost approximately 9% in September, and remains up more than 47% year-to-date.

Following the recent selling pressure, upside retracement levels and areas of potential technical resistance include 43994, 44889, 45997, and 46164 levels.  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).

Price activity is nearest the 50-bar MA (4-hourly) at 42823.21 and the 50-bar MA (Hourly) at 42290.97.

Technical Support is expected around 39600/ 37401.27/ 34881.40 with Stops expected below.

Technical Resistance is expected around 53025.00/ 54088.38/ 55841.04 with Stops expected above.  

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.                                                                                                                                               

Disclaimer: This trading analysis is provided by a third party, and for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.