---
title: "Bitcoin Price Analysis: Volatility Spikes Higher"
url: https://diffcoin.com/bitcoin-price-analysis-volatility-spikes-higher/
description: "BTC/USD Elevated Volatility Below 30000: Sally Ho’s Technical Analysis – 3 August 2023 Bitcoin (BTC/USD) continued to experience elevated volatility early…"
published: 2023-08-02
updated: 2023-08-02
author: "Mila"
site: "Diffcoin"
---

# Bitcoin Price Analysis: Volatility Spikes Higher

**BTC/USD Elevated Volatility Below 30000: Sally Ho’s Technical Analysis – 3 August 2023**

Bitcoin (BTC/USD) continued to experience **elevated volatility** early in the **Asian** session as the pair was **lifted** from the **28552.42 level** and reached the **30033** area before moving back **below** the **29400** area. **Stops** were recently **elected below** the **29089.49** and **28775.19 levels**, **downside price objectives** associated with **selling pressure** around the **29851.28** area. Additional Stops were elected below the **28999**, **28874**, and **28672** areas during the acute **selloff**, **downside price objectives** related to recent **selling pressure** around the **29526** and **29344 levels**. Additional **downside price objectives** linked to recent **selling pressure** include the **28432**, **27979**, **27409**, **27246**, and **26501 levels**. **Below** the market, additional **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 **historic 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 **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 **below** the **200-bar MA (hourly)**.

Price activity is nearest the **100-bar MA** (4-hourly) at **29611.97** and the **100-bar MA** (Hourly) at **29286.97**.

**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/2023/08/bitcoin-price-analysis-volatility-spikes-higher-3-august-2023)