---
title: "Bitcoin Price Analysis: Bearish Sentiment Growing"
url: https://diffcoin.com/bitcoin-price-analysis-bearish-sentiment-growing/
description: "BTC/USD Bearish Sentiment Expanding: Sally Ho’s Technical Analysis – 22 July 2023 Bitcoin (BTC/USD) encountered elevated downside risks early in the Asian…"
published: 2023-07-21
updated: 2023-07-21
author: "Mila"
site: "Diffcoin"
---

# Bitcoin Price Analysis: Bearish Sentiment Growing

**BTC/USD Bearish Sentiment Expanding: Sally Ho’s Technical Analysis – 22 July 2023**

Bitcoin (BTC/USD) encountered **elevated downside risks** early in the **Asian** session as the pair has been increasingly **unable** to **sustain** recent **gains above** the **30000 figure**. **Bears** absorbed the **30183.73 level** during the ongoing **pullback**, a **level** that represents the **23.6% retracement** of the **appreciating range** from **24750** to **31862.21**. **Stops** were **elected below** the **30172**, **30095**, **30018**, **29922**, and **29768** areas during the **depreciation**, **downside price objectives** associated with **selling pressure** around the **30421.29** and **30281.68** areas. Additional **downside price objectives** include the **29403**, **29089**, **28775**, **28386**, and **27757 levels**. **Below** current price activity, 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**. **Above** the market, **upside price objectives** related to this **level** 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 **above** 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 **200-bar MA** (4-hourly) at **29685.25** and the **50-bar MA** (Hourly) at **29992.93**.

**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-bearish-sentiment-growing-22-july-2023)