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Sally Ho's Technical Analysis 14 May 2019

 
Sally Ho's Technical Analysis 14 May 2019
Ethereum / Breaking News / Bitcoin / Analytics

Bitcoin

Bitcoin (BTC/USD) resumed its blistering move higher early in today’s Asian session following the pair’s move to 8195.00 late in yesterday’s North American session. The pair then came off to the 7600.00 figure before climbing higher in the Asian session, back above the 8080 level. Stops were elected above the 7581.82 area during the move higher when the pair pushed above the fresh multi-month high established recently on 12 May.

Chartists are eyeing the 8339.09 area as an upside target, representing the 76.4% retracement of the 9948.52 – 3128.89 range, and similarly the 8388.78 area represents the 76.4% retracement of the move from 9948.12 to 3128.89. Above that level, the 8488.00 is a relative high and the 9948.12 area is also a relative high. Other important levels to watch include 8472.19 and 9734.52.

Price activity is nearest the 50-bar MA (4-hourly) at 6421.26 and the 50-bar MA (Hourly) at 7312.51.

Technical Support is expected around 7561.81/ 7170.09/ 6853.50 with Stops expected below.

Technical Resistance is expected around 8488.00/ 9734.52/ 9948.12 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.

 

Ethereum

Ethereum (ETH/USD) reversed course and gained ground early in today’s Asian session, pushing higher to the 201.29 area after trading as low as the 191.43 area during yesterday’s North American session.  The pair reached the 209.85 area during yesterday’s North American session, a fresh 2019 high. The pullback during yesterday’s North American session saw the pair test the 50% retracement of the move from 302.20 to 80.60.

During the move higher in today’s Asian session, the pair stopped just short of testing the 23.6% retracement of the 146.00 – 209.85 range and then tested the 201.38 area, representing the 50% retracement of the 322.16 – 80.60 range. Following the current move to multi-month highs, new areas of technical Support have been established including 195.44/ 186.53/ 179.33. Traders are also eyeing the 185.46 area as a key level of technical Support, representing the 38.2% retracement of the 146.00 – 209.85 range.

Price activity is nearest the 50-bar MA (4-hourly) at 177.83 and the 50-bar MA (Hourly) at 193.37.

Technical Support is expected around the 185.46/ 181.20/ 175.10 levels with Stops expected below.

Technical Resistance is expected around the 217.55/ 222.78/ 229.88 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 Bearishly below MACDAverage.

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