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Sally Ho's Technical Analysis 21 June 2019

 
Sally Ho's Technical Analysis 21 June 2019
Ethereum / Breaking News / Bitcoin / Analytics

Bitcoin

Bitcoin (BTC/USD) finally tested a key upside price objective early in today’s Asian session, easily absorbing the 9532.39 level, representing the 38.2% retracement of the move from 19891.99 to 3128.89. Significant Stops were elected above that key level on the move higher, pushing the pair to the 9599.00 area, a level above which Stops are likely in place. During yesterday’s North American session, buying activity commenced around the 9250.03 area, a follow-through from demand that started late in yesterday’s European session.

BTC/USD’s quick move higher has traders focused on additional price appreciation. After Stops were triggered above the 9388.00 and 9475.00 areas, recent relative highs, the 9532.39 area was quickly tested. The 10,096 area represents an upside price extension objective, as does the 10,899 area.  Also, the 11,510 area represents the 50% retracement of the move aforementioned 19891.99 – 3128.89 range. The 10,000 figure represents a psychologically-important area, and there is likely to be technical Resistance below this area.

Price activity is nearest the 50-bar MA (4-hourly) at 8886.07 and the 50-bar MA (Hourly) at 9222.08.

Technical Support is expected around 9475.00/ 9138.41/ 8761.88 with Stops expected below.

Technical Resistance is expected around 9948.12/ 10,096.41/ 10,899.10 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.

 

Ethereum

Ethereum (ETH/USD) escalated sharply higher early in today’s Asian session, trading as high as the 274.84 area, right around the 76.4% retracement of the move from 278.83 to 261.00. Some profit-taking quickly ensued after this technical Resistance was reached, pushing the pair down to the 272.56 area, representing the 23.6% retracement of the move from 894.00 to 80.60.  Buying activity commenced during yesterday’s European session around the 266.51 area, representing the 23.6% retracement of the move from 226.56 to 278.83.

Chartists continue to eye some upside price targets including the 289.64 area, representing the 38.2% retracement of the move from 627.83 to 80.60, and then the 293.56 area which represents the 23.6% retracement of the 982.99 – 80.60 range. Above those levels, the 298.24 area is the 50% retracement of the move from 515.88 to 80.60, and the 302.20 area represents a relative high. Additionally, the 314.00 level is the 50% retracement of the 547.40 – 80.60 range.

Price activity is nearest the 50-bar MA (4-hourly) at 265.74 and the 100-bar MA (Hourly) at 268.81.

Technical Support is expected around 263.60/ 258.86/ 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 Bullishly above SlowD while MACD is Bullishly above MACDAverage.

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