---
title: "Bitcoin Price Analysis: 4% Pullback in July"
url: https://diffcoin.com/bitcoin-price-analysis-4-pullback-in-july/
description: "BTC/USD 4% Pullback in July: Sally Ho’s Technical Analysis – 1 August 2023 Bitcoin (BTC/USD) awaited fresh technical guidance early in the Asian session…"
published: 2023-07-31
updated: 2023-07-31
author: "Mila"
site: "Diffcoin"
---

# Bitcoin Price Analysis: 4% Pullback in July

**BTC/USD 4% Pullback in July: Sally Ho’s Technical Analysis – 1 August 2023**

Bitcoin (BTC/USD) awaited **fresh technical guidance** early in the **Asian** session as the pair continued to trade **below** the **30000 figure** after **peaking** around the **31862.21** area in July. The market **depreciated** approximately **4%** in the month of July and has a **ppreciated** nearly **76% year-to-date**. Following recent **selling pressure** around the **29526.99** area, **downward pressure increased** around the **29469.84** area, right around a previous **upside price objective** associated with **buying pressure** around the **28850** and **28981.16 levels**. **Stops** were **elected below** the **29259.93** area during the **depreciation**, a **downside price objective** related to recent **selling pressure**. **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 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. 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 **above** the **200-bar MA (hourly)**.

Price activity is nearest the **50-bar MA** (4-hourly) at **29371.01** and the **100-bar MA** (Hourly) at **29320.87**.

**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 **Bearishly below SlowD** while **MACD** is **Bullishly above MACDAverage.**

On **60-minute** chart, **SlowK** is **Bearishly below SlowD** while **MACD** is **Bearishly below 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-4-per-cent-pullback-in-july-1-august-2023)