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Sally Ho's Technical Analysis 18 June 2019

 
Sally Ho's Technical Analysis 18 June 2019
Ethereum / Breaking News / Bitcoin / Analytics

Bitcoin

Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair established a fresh 2019 high around the 9475.00 area, its strongest print since May 2018. Stops were elected above the 9388.00 area late in yesterday’s European session, the year’s previous high that was established during yesterday’s trading activity. During the pair’s move higher early in yesterday’s European session, Stops were elected above the 9251.72 area, representing the 76.4% retracement of the move from 9388.00 to 8810.53.

BTC/USD continues to inch closer to a major upside level of technical Resistance around the 9532.39 area, representing the 38.2% retracement of the move from 19891.99 to 3128.89. Above that area, the 9948.12 area is a relative high. Below current market activity, chartists are watching the 9142.77 area, representing the 50% retracement of the move from 8810.53 to 9475.00.  Additional Bids are expected around the 9064.36 and 8967.34 levels.

Price activity is nearest the 50-bar MA (4-hourly) at 8437.99 and the 50-bar MA (Hourly) at 9149.61.

Technical Support is expected around 9142.77/ 9064.56/ 8967.34 with Stops expected below.

Technical Resistance is expected around 9532.19/ 9948.12/ 11510.44 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 Bearishly below MACDAverage.

 

Ethereum

Ethereum (ETH/USD) gave back some ground early in today’s Asian session as the pair descended to the 271.49 area after trading as high as the 275.80 area late in yesterday’s North American session.  Stops were elected above the 275.10 area late in yesterday’s European session, representing the 76.4% retracement of the move from 278.83 to 263.02. Early in today’s Asian session, Bids emerged just above the 50% retracement of the aforementioned range and Bids were seen around the 269.06 area during yesterday’s European and North American sessions.

ETH/USD has traded sideways for at least the last day and needs to make a decisive break above the 275.10 area if it is going to challenge some upside technical Resistance. Above current market activity, the 288.77 is a recent relative high and the 302.20 area represents an additional relative high. The 289.64 area is the 38.2% retracement of the move from 627.83 to 80.60 and the 293.56 area is the 23.6% retracement of the move from 982.99 to 80.60. Also, the 298.24 level is the 50% retracement of the move from 515.88 to 80.60.

Price activity is nearest the 50-bar MA (4-hourly) at 257.65 and the 50-bar MA (Hourly) at 271.24.

Technical Support is expected around 266.75/ 257.22/ 252.70 with Stops expected below.

Technical Resistance is expected around 288.77/ 293.56/ 302.20 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.

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