---
title: "BTC/USD 22793 Major Downside Target: Sally Ho’s Technical Analysis – 24 August 2023"
url: https://diffcoin.com/btc-usd-22793-major-downside-target-sally-hos-technical-analysis-24-august-2023/
description: "BTC/USD 22793 Major Downside Target: Sally Ho’s Technical Analysis – 24 August 2023 Bitcoin (BTC/USD) continued to experience expanding volatility early…"
published: 2023-08-23
updated: 2023-08-23
author: "Mila"
site: "Diffcoin"
---

# BTC/USD 22793 Major Downside Target: Sally Ho’s Technical Analysis – 24 August 2023

**BTC/USD 22793 Major Downside Target: Sally Ho’s Technical Analysis – 24 August 2023**

Bitcoin (BTC/USD) continued to experience **expanding volatility** early in the **Asian** session as the pair **hovered** around the **26000 figure** after trading as **low** as the **25350** area, representing a **test** of the **23.6% retracement** of the recent **appreciating range** from **24750** to **25537.40**. **Upward pressure** then **lifted BTC/USD** to the **26180.54** area, representing a **test** of the **23.6% retracement** of the wider **appreciating range** from **24750** to **26589.41**. The recent fresh **multi-month low** around the **25234.76** area represented a **test** of a major **downside price objective** around the **25128.94** area that is associated with **selling pressure** that increased around the **31862.21** and **30421.29 levels** in July. Major **Stops** were **elected below** the **27620.46** area during the **decline**, another **downside price objective** linked to recent **downward pressure** around the **30222** and **29665.27** areas. Major **Stops** were also **elected** **below** the **27991.29** area, representing the **23.6% retracement** of the broader **appreciating range** from **15460** to **31862.21**.

Areas of **technical support** and potential **buying pressure** in **appreciating ranges** from the **15460** and **19568.52 levels** include the **23661**, **22793**, and **21725 levels**. Following recent **selling pressure**, areas of **technical resistance** and potential **selling pressure** include the **26798**, **27139**, **27728**, **27766**, **28316**, **28548**, **29154**, **29330**, and **30443 levels**. **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 **50-bar MA** (4-hourly) at **27110.97** and the **50-bar MA** (Hourly) at **26008.43**.

**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**.

View Yesterday’s Trading Analysis

*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://cryptodaily.co.uk/2023/8/btcusd-22793-major-downside-target-sally-hos-technical-analysis-24-august-2023)