---
title: "Bitcoin Price Analysis: 29228 Level Again Tested"
url: https://diffcoin.com/bitcoin-price-analysis-29228-level-again-tested/
description: "BTC/USD Again Tests 29228 Level: Sally Ho’s Technical Analysis – 31 July 2023 Bitcoin (BTC/USD) worked to maintain a minor bid early in the Asian session…"
published: 2023-07-30
updated: 2023-07-30
author: "Mila"
site: "Diffcoin"
---

# Bitcoin Price Analysis: 29228 Level Again Tested

**BTC/USD Again Tests 29228 Level: Sally Ho’s Technical Analysis – 31 July 2023**

Bitcoin (BTC/USD) worked to maintain a minor **bid** early in the **Asian** session as the pair traded back **above** the **29318.26 level** after trading as **low** as the **29230** area, representing another **test** of an **upside price objective** associated with **buying pressure** around the **28850** and **28981.16 levels**. Traders are monitoring the recent **depreciating range** from **31862.21** to **28850** with **upside retracement levels** around the **30000**, **30356**, **30711**, **31151**, and **31217** areas. **Above** the market, **upside price objectives** include the **30526**, **30611**, **30762**, and **31145** areas. **Upside price objectives** related to other **levels** of **buying pressure** include the **32125** and **33569** areas, and **Stops** are cited **above** additional **upside price objectives** around the **32043**, **34531**, **34658**, and **35912** areas.

**Below** the market, **downside price objectives** include the **28213**, **28137**, **27757**, **27430**, **27338**, **27312**, **26348**, and **26199 levels**. **Also**, the **28095.44** area represents the **23.6% retracement** of the **historical depreciating range** from **69000** to **15460**. Following recent **upside** activity, areas of **technical support** and potential **buying pressure** include the **28306**, **27466**, **26428**, and **26272 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 **29450.97** and the **100-bar MA** (Hourly) at **29302.37**.

**Technical Support** is expected around **24440.41/ 23270.10/ 22769.39** with **Stops** expected below.

**Technical Resistance** is expected around **31986.16/ 32989.19/ 34658.69** 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 **Bullishly above SlowD** while **MACD** is **Bullishly above MACDAverage**.

*Disclaimer: Sally Ho’s Technical 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.*

[Source link](https://www.cryptodaily.co.uk/2023/07/bitcoin-price-analysis-29228-level-again-tested-31-july-2023)