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Sally Ho's Technical Analysis 16th April 2019

 
Sally Ho's Technical Analysis 16th April 2019
Ethereum / Breaking News / Bitcoin / Cryptocoins / Bitcoin Cash / Analytics / Litecoin

Bitcoin

Bitcoin (BTC/USD) found a Bid early in the Asian session but only after the pair fell to the 4945.54 level during yesterday’s North American session, its weakest print since 11 AprilStops were elected below the 4970.67 area during the descent, representing the 76.4% retracement of the move from 4901.99 to 5193.01. During today’s climb higher from multi-day lows, BTC/USD found a Bid around the 5013.16 area, representing the 61.8% retracement of the aforementioned range. Chartists are eyeing the 5081.84 area as the pair’s next upside target.

Other minor retracement levels including 5098.48/ 5134.61 related to yesterday’s depreciation from 5193.01 to 4945.54. Technicians are also eyeing the 50-bar MA (4-hourly) as technical Resistance, currently around 5144.99. Traders also continue to pay close attention to the 5176.07 area, representing the 38.2% retracement of the 8488.00 – 3128.89 range.

As noted in our 15 April 2019 analysis, any additional buying power will spotlight the 5264.14/ 5349.70 levels.

Another major upside target is 5403.82, representing the 61.8% retracement of the 6810.00 – 3128.89 range.

Price activity is nearest the 50-bar MA (4-hourly) at 5144.80 and the 100-bar MA (Hourly) at 5081.57.

Technical Support is expected around 4877.05/ 4582.91/ 4393.64 with Stops expected below.

Technical Resistance is expected around 5264.14/ 5403.82/ 5769.98 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 Bearishly below MACDAverage.

Ethereum

Ethereum (ETH/USD) partially recovered during today’s Asian session, trading as high as the 161.87 area after depreciating to the 156.00 figure during yesterday’s North American session. Stops were elected below the 161.63 area during yesterday’s dive, representing the 100-bar MA (4-hourly). Minor Stops were also triggered below the 156.53 area during the move lower, representing the 23.6% retracement of the move from 179.98 to 80.60. Early in the Asian session, the 100-bar MA (4-hourly) was being tested again, this time around 162.03.

Chartists are eyeing the 162.99 and 167.31 levels, representing the 23.6% and 38.2% retracements of the depreciation from 185.62 to 156.00.

ETH/USD continues to orbit the 168.47 level, representing the 61.8% retracement of the 222.78 – 80.60 range.

Price activity is nearest the 100-bar MA (4-hourly) at 162.03 and the 100-bar MA (Hourly) at 164.38.

Technical Support is expected around the 151.69/ 144.09/ 134.91 levels with Stops expected below.

Technical Resistance is expected around the 179.40/ 185.62/ 214.08 levels 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 Bearishly below MACDAverage.

Litecoin

Litecoin (LTC/USD) recovered a little bit of lost ground during today’s Asian session, moving as high as the 79.00 figure before spinning lower. During the pair’s depreciation during yesterday’s North American session, it reached a multi-day low around the 74.95 area. Stops were elected below the 78.35 area during yesterday’s depreciation, representing the 100-bar MA (4-hourly). Yesterday’s intraday low was just below the 50% retracement of the 127.95 – 22.17 range, meaning not too many Stops were reached below this area.

On the upside, LTC/USD will need to contend with technical Resistance around the 83.71 and 86.42 areas, representing short-term retracement levels associated with the move from 97.88 to 74.95.

As noted in our 15 April 2019 analysis, stronger upside targets include the 87.39 level, representing the 38.2% retracement of the 192.89 – 22.17 range, and the 102.26 area, representing the 50% retracement of the 182.35 – 22.17 range.

Price activity is nearest the 100-bar MA (4-hourly) at 78.69 and the 100-bar MA (Hourly) at 79.21.

Technical Support is expected around the 72.10/ 67.17/ 62.62 levels with Stops expected below.

Technical Resistance is expected around the 87.39/ 92.56/ 102.26 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 above MACDAverage.

Bitcoin Cash

BCH/USD (Bitcoin Cash/ US dollar) continued to defy much of the crypto complex and traded with a high degree of technical independence. The pair traded as high as the 335.00 figure during yesterday’s North American session before collapsing to the 298.00 figure during today’s Asian session. During yesterday’s move higher during the European session, Bids emerged around the 293.17 area, just above both the 50-bar MA (4-hourly) and the 38.2% retracement of the 354.17 – 254.17 range.

Chartists are eyeing the 326.27 area as a short-term upside price target, representing the 76.4% retracement of the recent move from 335.00 to 298.00.

Price activity is nearest the 50-bar MA (4-hourly) at 291.97 and the 50-bar MA (Hourly) at 294.69.

Technical Support is expected around the 277.46/ 265.55/ 254.17 levels with Stops below.

Technical Resistance is expected around the 332.55/ 349.99/ 366.11 levels with Stops 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.

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