---
title: "Bitcoin Price Analysis: Bears Eye 29592 Pain"
url: https://diffcoin.com/bitcoin-price-analysis-bears-eye-29592-pain/
description: "BTC/USD Bears Eye 29592 Pain: Sally Ho’s Technical Analysis – 19 July 2023 Bitcoin (BTC/USD) encountered additional downside pressure early in the Asian…"
published: 2023-07-18
updated: 2023-07-18
author: "Mila"
site: "Diffcoin"
---

# Bitcoin Price Analysis: Bears Eye 29592 Pain

**BTC/USD Bears Eye 29592 Pain: Sally Ho’s Technical Analysis – 19 July 2023**

Bitcoin (BTC/USD) encountered additional **downside pressure** early in the **Asian** session as the pair continued to trade **below** the **30000 figure** after **selling pressure** intensified around the **30297.51 level** following a rebound from its **weakest print** in July. Traders pushed **BTC/USD** as **low** as the **29668.58** area after **Stops** were **elected below** the previous **monthly low** around the **29715** area. The brief **rebound** to the **30291 level** represented a **test** of the **23.6% retracement** of the recent narrow **appreciating range** from **29715.87** to **30456**. Significant **Stops** are cited **below** the **29592.63** area that is related to recent **selling pressure** that strengthened around the **31862.21** and **31376.52** areas. Following recent trading activity, areas of **technical support** and potential **buying pressure** include the **29108**, **28275**, **27443**, **26413**, and **26257 levels**.

**Below** current price activity, the **28095.44** area represents the **23.6% retracement** of the **historical depreciating range** from **69000** to **15460**. **Upside price objectives** 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 **29442.03** and the **50-bar MA** (Hourly) at **30169.73**.

**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 **Bearishly below 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-bears-eye-29592-pain-19-july-2023)