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BTC/USD Downside Risks Elevated:  Sally Ho’s Technical Analysis – 29 December 2022 Bitcoin (BTC/USD) encountered renewed selling pressure early in the Asian session as the pair was unable to move back above the 17000 figure, peaking around the 16777.35 area in a test of the 50-bar, 4-hour simple moving average.  Buying pressure earlier emerged around the 16554.77 area, right around the 76.4% retracement of the appreciating range from 15992.64 to 18385.36.   The pair continues to orbit the 16880.44 area, a level that represents the 23.6% retracement of the depreciating range from 21478.80 to 15460.  Selling pressure recently intensified around the 18385.36 and 17525 levels and BTC/USD tested downside price objectives related to these levels, including the 16375.18 area.   Additional related downside price objectives related to these areas of selling pressure include the 15900, 15313, and 14364 levels.  If BTC/USD reclaims some upside momentum, additional technically significant upside retracement levels include the 18495, 19199, 20070, and 20201 levels.  BTC/USD has depreciated approximately 63% year-to-date, and is off more than 1% month-to-date.  Below current price activity, BTC/USD bears are eyeing a possible test of recent two-year lows around the 15460 area, established after Stops were elected below the 15512 area.  Notably, the 15512 level represented an exact bearish price objective based on selling pressure that strengthened around the 21478.80 and 18495.50 areas.  Below these areas, technically significant levels include the 14613, 14500.15, 13369, 10432.73, 10727, 9682, 8837, and 7538 levels.  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 16780.41 and the 100-bar MA (Hourly) at 16757.19.   Technical Support is expected around 14500.15/ 13369.11/ 10727.75 with Stops expected below. Technical Resistance is expected around 18495.40/ 19199.48/ 20070.64 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 Bullishly above 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.
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The charity event is seeking to collect funds to benefit victims of the nervous system disease ALS, which the late Hal Finney himself was afflicted by.  Charity Event Invites BTC Donations Hal Finney was one of the earliest adopters of Bitcoin and cryptocurrencies in general. He was diagnosed with amyotrophic lateral sclerosis, or ALS, in 2009. He succumbed to the ravages of the disease and passed away from complications in 2014. On Tuesday, his widow Fran Finney took to her late husband’s Twitter handle to announce the charity event, “Running Bitcoin,” a half marathon for Bitcoin holders to raise funds that would be contributed towards finding a cure for ALS. Those willing to participate would be covering a half-marathon distance between January 1st through 10th to raise funds through BTC donations for ALS research.  She tweeted,  “We are determined to find a cure for this devastating condition and any support you can provide will make a big difference…If you'd like to participate in the 'Running Bitcoin' event and make a donation, you can do so by visiting our website http://runningbitcoin.us and following the instructions there.” More On “Running Bitcoin” It is interesting to note that the marathon name, “Running Bitcoin,” was informed by the first-ever tweet about the crypto made by Hal Finney himself, indicating how much of an early adopter he was. In fact, he was the second person to run a Bitcoin node after Bitcoin creator Satoshi Nakamoto. Finney tweeted those two words just a few days after Bitcoin went live in 2009. Prior to his diagnosis, Finney had frequently run distances. The Running Bitcoin website has also revealed that he especially favored the half marathon distance.  The notice on the website reads,  “Join Honorary Chair Fran Finney and the Running Bitcoin Challenge Committee as we honor legendary cypher punk, Hal Finney. This is THE EVENT that combines Hal Finney's love of running and Bitcoin and is raising funds and awareness to help defeat ALS, which claimed his life.” Other information on the event reveals that participants can complete the half marathon in one day or throughout the campaign duration. The website also collects donations in Bitcoin and fiat currency, where certain donators will receive certain benefits. A minimum $100 donation will earn a special event t-shirt, while the top 25 contributors will receive a Hal Finney collectible autographed by Fran Finney. The campaign has already raised $10,000 of its $50,000 goal.  Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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