Weekly TA: BTC-USD (20th Sept)
BTC witnessed a volatile last week as it traded in a range of $44,000 to $49,000, it faced strong selling pressure at the higher levels which triggered the downside rally. However, it closed the weekly candle in the green territory and formed a Doji kind of a candlestick pattern. Crypto markets started this week with negative sentiments as the top crypto assets fell by ~5-10%.
After gaining more than 60% from its July low levels, BTC seems to have started its pending contraction move as it is trading ~10% from its recent high of $52,945. Massive selling pressure is present in the range of 50K to 52K. As per the Fibonacci retracement levels drawn by connecting the July lows to the recent high, BTC is managing to sustain above its 0.382 level which is placed at $43,590.
On the higher side, the immediate hurdle is present at 46.5K, post this, the next potential sell wall is present at
48K followed by the psychological level of 50K. On the lower side, the nearest support is present at 43.8K and if this level is broken decisively, selling pressure can continue till the level of 
42K followed by 40K.
After gaining more than 60% from its July low levels, BTC seems to have started its pending contraction move as it is trading ~10% from its recent high of $52,945. Massive selling pressure is present in the range of 50K to 52K. As per the Fibonacci retracement levels drawn by connecting the July lows to the recent high, BTC is managing to sustain above its 0.382 level which is placed at $43,590.
On the higher side, the immediate hurdle is present at 46.5K, post this, the next potential sell wall is present at
48K followed by the psychological level of 50K. On the lower side, the nearest support is present at 43.8K and if this level is broken decisively, selling pressure can continue till the level of 42K followed by 40K.
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