Today's Hot Topics

Sally Ho's Technical Analysis 1 May 2019

 
Sally Ho's Technical Analysis 1 May 2019
Ethereum / Breaking News / Bitcoin / Bitcoin Cash / Analytics / Litecoin

Bitcoin

Bitcoin (BTC/USD) gained decent ground during today’s Asian session, trading as high as the 5329.80 level after demand surfaced around the 5225.55 area, right around the 38.2% retracement of the move from 5650.01 to 4963.00. Clues emerged early in yesterday’s North American session to suggest the pair would appreciate as Bids emerged at 5187.00 on a pullback, right around the 61.8% retracement of the move from 4901.99 to 5650.01. Some Stops were then elected above the 5251.55 area, then the 100-bar MA (4-hourly) before Bids were seen around the aforementioned 5225 area.

Additional Stops were then triggered above the 5265.70 area, representing the 50% retracement of the 7402.50 – 3128.89 range, before the technically-relevant 5276.00 area gave way and the 50-bar MA (4-hourly) was tested. Traders then reached some Stops that were likely in place above the 50-bar MA (4-hourly), providing the impetus to then take out Stops above the 5306.51 area, representing the 50% retracement of the move from 5650.01 to 4963.00.

Price activity is nearest the 50-bar MA (4-hourly) at 5287.91 and the 200-bar MA (Hourly) at 5289.68.

Technical Support is expected around 5203.64/ 5125.13/ 4901.99 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 Bullishly above MACDAverage.

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

 

Ethereum

Ethereum (ETH/USD) gained solid ground early in today’s Asian session, testing Offers around the 163.25 area following a pullback to the 155.76 area late in the North American session. Indications were seen throughout the North American session that the pair was trying to form an intraday base and move higher when buying pressure emerged around the 156.06 level, right around the 23.6% retracement of the move from 148.01 to 158.30.

Stops were elected above the 159.45 area during the move higher, then the 50-bar MA (4-hourly), and then above the 200-bar MA (4-hourly) around the 161.67 area, accelerating the move to intraday highs and the pair’s strongest showing since 25 April 2019. Additional Stops were elected above the 162.36 area, representing the 23.6% retracement of the 80.60 – 187.62 range.

Technically, the pair’s next upside target is the 100-bar MA (4-hourly), now around the 164.18 area.

Price activity is nearest the 100-bar MA (4-hourly) at 153.68 and the 200-bar MA (Hourly) at 159.62.

Technical Support is expected around the 157.73/ 151.69/ 146.74 levels with Stops expected below.

Technical Resistance is expected around the 165.25/ 172.88/ 176.94 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 Bullishly above SlowD while MACD is Bullishly above MACDAverage.

 

Litecoin


Litecoin (LTC/USD)
launched higher during today’s Asian session, reaching the 74.90 area after technical Bids were seen around the 71.50 level, just below the 38.2% retracement of the move from 79.77 to 66.77. Today’s intraday high was the pair’s strongest print since 23 April 2019 and just below the 75.06 area, representing the 50% retracement of the move from 127.95 to 22.17.

Chartists are eyeing the 100-bar MA (4-hourly) as a short-term upside target, now around the 75.85 level. Technicians are also curious to see how prices move given the fact that the 200-bar MA (4-hourly) recently crossed above the 100-bar MA (4-hourly). The 76.63 area is another key upside level, right around the 61.8% retracement of the move from 83.90 to 64.86, followed by the 78.24 level, representing the 38.2% retracement of the 99.89 – 64.86 range.

Price activity is nearest the 100-bar MA (4-hourly) at 75.85 and the 200-bar MA (Hourly) at 71.74.

Technical Support is expected around the 72.16/ 70.20/ 64.36 levels with Stops expected below.

Technical Resistance is expected around the 78.58/ 81.13/ 86.51 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 Bullishly above MACDAverage.

 

Bitcoin Cash

BCH/USD (Bitcoin Cash/ US dollar)
scored strong gains early in the Asian session, galloping higher to the 277.32 area after Stops were elected above the 275.42 area, representing the 23.6% retracement of the move from 929.99 to 73.22. The pair stopped just short of testing the 277.77 area, representing the 23.6% retracement of the 354.17 – 254.17 range. Today’s intraday high was the strongest print since 25 April 2019.

Additional upside buying pressure could see BCH/USD test the 100-bar MA (4-hourly), currently around the 284.03 level. Chartists are eyeing the 296.99/ 309.61 levels as additional upside price targets, followed by the 314.12 area, representing the 76.4% retracement of the 332.64 – 254.17 range.

Price activity is nearest the 100-bar MA (4-hourly) at 284.03 and the 200-bar MA (Hourly) at 265.96.

Technical Support is expected around the 255.97/ 240.89/ 227.40 levels with Stops below.

Technical Resistance is expected around the 284.54/ 296.99/ 309.61 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 Bullishly above SlowD while MACD is Bearishly below MACDAverage.

You can share this post!

Sally Ho's Technical Analysis 30 April 2019

Sally Ho's Technical Analysis 2 May 2019