Sally Ho's Technical Analysis 28 April 2019

Sally Ho's Technical Analysis 28 April 2019

Bitcoin

Bitcoin (BTC/USD) encountered some profit-taking early in today’s Asian session after the pair tested Offers around the 5221.24 level, just below the 5225.44 area, representing the 38.2% retracement of the 5650.01 – 4963.00 range. Today’s intraday high is also just below the 100-bar MA (4-hourly) which came in at 5235.03 during the move higher. During today’s pullback, the pair dropped to the 5162.12 area and continues to orbit the 5176.07 area that we have written about extensively.

Some Bids emerged yesterday around the 5125.13 area, a short-term retracement area, and chartists are looking to see if any additional weakness finds technical Support around the 5078.52 area, representing the 76.4% retracement of the 4901.99 – 5650.01 range. Additional weakness could see the 4969.45 area tested again, representing the 50% retracement of the 6810.00 – 3128.89 range.

Price activity is nearest the 100-bar MA (4-hourly) at 5235.98 and the 50-bar MA (Hourly) at 5156.75.

Technical Support is expected around 4901.99/ 4764.41/ 4394.64 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 Bullishly above SlowD while MACD is Bearishly below MACDAverage.

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

 

Ethereum

Ethereum (ETH/USD) eased lower during today’s Asian session from gains scored during yesterday’s North American session as the pair declined to the 155.05 area after trading around the 159.00 figure overnight. Traders were unable to push through the 200-bar MA (4-hourly) which came in at 159.63 during the ascent back above technical Resistance around the 157.82 area. If traders are able to get through the 200-day MA (4-hourly), upside technical Resistance will include 161.47/ 165.25/ 168.47.

Below current price activity, technicians want to see if ETH/USD can find Support around the 153.30 area with stronger Bids possible ahead of the 151.69 area, representing the 50% retracement of the 222.78 – 80.60 range. Additionally, the 146.74 area is a very important level, representing the 38.2% retracement of the move from 187.62 to 80.60.

Price activity is nearest the 200-bar MA (4-hourly) at 159.84 and the 50-bar MA (Hourly) at 153.26.

Technical Support is expected around the 146.74/ 137.61/ 132.90 levels with Stops expected below.

Technical Resistance is expected around the 161.47/ 165.12/ 172.88 levels with Stops expected above.

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

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

 

Litecoin


Litecoin (LTC/USD)
remained in a relatively narrow range early in today’s Asian session as the pair came off after testing the 71.76 area during yesterday’s North American session. Bids emerged early during today’s Asian session around the 70.19 level, right around the 38.2% retracement of the 99.89 – 22.17 range. The 200-bar MA (4-hourly) has just crossed above the 50-bar MA (4-hourly), a potentially Bearish signal that could lead to more downward pressure.

The 72.16 area represents a short-term upside challenge for the pair, as some chunky Stops were reached below this important level on 23 April. Below current price activity, the 65.60/ 62.68/ 59.97 areas are important areas of technical Support. On the upside, the 75.06/ 76.39/ 78.16 areas represent technical Resistance.

Price activity is nearest the 50-bar MA (4-hourly) at 75.24 and the 50-bar MA (Hourly) at 71.02.

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

Technical Resistance is expected around the 72.16/ 78.58/ 81.13 levels 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.

 

Bitcoin Cash

BCH/USD (Bitcoin Cash/ US dollar)
searched for direction early in today’s Asian session as the pair backed away from the 264.00 figure, a level reached during yesterday’s North American session. Some Stops were elected above the 263.19 area, representing the 38.2% retracement of the move from 284.54 to 250.00. Bids emerged around the 258.25 area during the pullback, representing the 23.6% retracement of the aforementioned range.

Chartists are also curious to see how the price continues to react around the 200-bar MA (4-hourly). The market briefly traded below the 200-bar MA (4-hourly) yesterday and even more so on Friday but has not had a closing 4-hourly bar below this level since 13 March. The 232.10 area is an important level to watch if BCH/USD encounters any additional selling pressure.

Price activity is nearest the 200-bar MA (4-hourly) at 257.71 and the 50-bar MA (Hourly) at 259.76.

Technical Support is expected around the 232.10/ 211.46/ 202.06 levels with Stops below.

Technical Resistance is expected around the 267.27/ 273.69/ 284.17 levels with Stops above.

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

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

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