BTC/USD Technical Analysis

In the daily chart below, we can see that Bitcoin price has retreated from the maximum of 2 2 5 printed in the summer of 2022. Risk sentiment mainly drives the crypto market and recent developments on the interest rate could be counterproductive for the market. We saw the bill recently, but the main event is the US CPI report next week. If it beats expectations, we should see a high risk of bullish sentiment causing the price of Bitcoin to fall sharply. The first allowance for larger sales is 18152. On the other hand, buyers need to break the resistance around the 25,000 number to start looking at higher highs. BTC / USD On the -hour chart below, we can see that the price has trended towards the 2 2 5 resistance with the MACD trade. This indicated a weakening of the bullish momentum and recent fundamental catalysts did the rest to lower the price. The moving averages are currently pointing south and a pullback from the pivotal resistance at 22366 would be better for sellers. BTC / USD From the 1 hour chart below, we can see where sellers can start to rally as there is a good entry to. the same level. Inverse resistance, the 38.2% Fibonacci retracement level and the trend line are approaching the 22366 price zone. From a risk management perspective, this would be a great level for sellers to lean on and place stops above the trend line and the 50% or 61.8% Fibonacci levels.

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