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Sally Ho's Technical Analysis 25 April 2019

Sally Ho's Technical Analysis 25 April 2019

Bitcoin

Bitcoin (BTC/USD) moved higher early in today’s Asian session as the pair reached the 5454.01 level after being pressured lower during yesterday’s North American session. The pair encountered strong technical Resistance yesterday around the 5488 and 5472 levels, right around the 38.2% retracement of the move from 5213.34 to 5650.01. During the move higher during today’s Asian session, the pair found some technical Bids around the 5436 area, just above the 50% retracement of the same range. Additional upside targets include 5483.20/ 5546.96, both of which are key upside retracement levels related to the same range.

BTC/USD will also need to get through some technical congestion at other key levels including the 5512.01/ 5584.87 areas. Traders are looking to see if the pair can establish a new 2019 high following its achievement this week and as we have written extensively, chartists continue to eye the 5403.82 level, representing the 61.8% retracement of the 6810.00 – 3128.89 range.

Above current price activity, upside targets include the 5733.84 area, representing the 38.2% retracement of the move from 9948.12 to 3128.89.

Price activity is nearest the 50-bar MA (4-hourly) at 5337.33 and the 50-bar MA (Hourly) at 5504.18.

Technical Support is expected around 5349.70/ 5264.14/ 5195.00 with Stops expected below.

Technical Resistance is expected around 5769.98/ 5941.26/ 6393.93 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 Bullishly above SlowD while MACD is Bullishly above MACDAverage.

 

Ethereum

Ethereum (ETH/USD) appreciated early in today’s Asian session as the pair climbed to the 166.34 level after trading as low as the 160.30 level during yesterday’s North American session. Yesterday’s low was the pair’s weakest print since 16 April and minor Stops were elected below the 161.15 area, representing the 76.4% retracement of the move from 156.00 to 177.84.

Decent Bids emerged around the 162.99 area, representing the 23.6% retracement of the move from 185.62 to 156.00. The 168.47 area represents the 61.8% retracement of the 222.78 – 80.60 range and traders are waiting to see where and when ETH/USD will gain a directional bias. If the pair continues to climb, the 174.31 level will come into view, representing the 61.8% retracement of the 185.62 – 156.00 range.

Price activity is nearest the 100-bar MA (4-hourly) at 169.80 and the 50-bar MA (Hourly) at 169.46.

Technical Support is expected around the 156.53/ 151.69/ 142.02 levels with Stops expected below.

Technical Resistance is expected around the 170.81/ 174.31/ 179.40 levels with Stops expected above.

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bearlishly below MACDAverage.

On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

 

Litecoin


Litecoin (LTC/USD) recovered some lost ground during today’s Asian session as the pair escalated to the 74.35 area after finding some light Stops above the 74.17 area, representing the 200-bar MA (4-hourly). Minor technical Resistance was encountered around the 73.44 area during today’s ascent, representing the 23.6% retracement of the 83.73 – 70.26 range.

During yesterday’s sell-off, the pair traded as low as the 70.26 area, its weakest print since 2 April. Stops were triggered below the 72.16 area during yesterday’s descent to multi-week lows, a level that represents the 61.8% retracement of the move from 103.06 to 22.17.  The 76.39 level is now back in view and chartists are curious to see how the pair trades around this level, representing the 23.6% retracement of the move from 251.90 to 22.17.

Price activity is nearest the 200-bar MA (4-hourly) at 74.17 and the 50-bar MA (Hourly) at 75.10.

Technical Support is expected around the 67.17/ 62.62/ 55.35 levels with Stops expected below.

Technical Resistance is expected around the 78.58/ 81.13/ 87.39 levels with Stops expected above.

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.

On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

 

Bitcoin Cash

BCH/USD (Bitcoin Cash/ US dollar) joined many of the major altcoins by moving higher during today’s early Asian session, reaching the 284.54 level after testing the 269.13 area during yesterday’s North American session. The move lower saw the pair decline yesterday to its lowest level since 11 April and decent Stops were triggered below the 271.35 area, representing the 38.2% retracement of the 591.88 to 73.22 range.

Some key technical levels will now come back into view on the upside. The 289.18 area is technically-significant, representing the 38.2% retracement of the 638.55 – 73.22 range, and the 296.99 level represents the 38.2% retracement of the move from 659.00 to 73.22.

On the downside, chartists are eyeing the 254.17 and 232.10 areas as technical Support.

Price activity is nearest the 100-bar MA (4-hourly) at 295.31 and the 50-bar MA (Hourly) at 288.35.

Technical Support is expected around the 265.55/ 254.17/ 232.10 levels with Stops below.

Technical Resistance is expected around the 295.64/ 314.12/ 330.57 levels with Stops above.

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.

On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

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