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Sally Ho's Technical Analysis 22 June 2019

 
Sally Ho's Technical Analysis 22 June 2019
Ethereum / Breaking News / Bitcoin / Analytics

Bitcoin

Bitcoin (BTC/USD) extended recent gains early in today’s Asian session as the pair raced higher to the 9920 area after testing the 9950 level late in yesterday’s North American session. Trading activity barely eclipsed technical Resistance around the 9948 area that related to a previous relative high from early May 2018. Bids emerged during yesterday’s Asian session at the 9531.21 level, right around the 38.2% retracement of the move from 19891.99 to 3128.89.

Traders are now firmly locked on the psychologically-important 10,000 figure, with Offers linked to derivatives such as options expected below this area. If this area is absorbed, 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. Other than some brief selling pressure that saw BTC/USD fall to 9677 after testing 9929, the pair continues to resemble a one-way trade following its move higher from 9210.

Price activity is nearest the 50-bar MA (4-hourly) at 9085.03 and the 50-bar MA (Hourly) at 9518.66.

Technical Support is expected around 9706.85/ 9475.00/ 9162.87 with Stops expected below.

Technical Resistance is expected around 9985.43/ 10,096.41/ 10,899.10 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 below MACDAverage.

 

Ethereum

Ethereum (ETH/USD) weakened early in today’s Asian session following strong buying activity during yesterday’s North American session that saw the pair test the 296.00 figure after Bids emerged around the 282.29 area. Strong demand emerged during yesterday’s Asian session around the 268.16 area and follow-through buying during yesterday’s European session saw price activity pushed higher to the 291.98 area after Stops were elected above the 289.64 area, representing the 38.2% retracement of the move from 627.83 to 80.60.

Stops were then elected above the 293.56 area, representing the 23.6% retracement of the 962.99 – 80.60 range. The 300.00 figure is a psychologically-important area, and the 302.20 level is a relative high from 2018. Above this area, the 314.00 figure represents the 50% retracement of the move from 547.40 to 80.60, and Stops are likely situated above this area. Below current market activity, the 282.63 area now represents the 38.2% retracement of the move from 261.00 to 296.00.

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 282.63/ 278.50 / 274.37 with Stops expected below.

Technical Resistance is expected around 302.20/ 314.00/ 322.84 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.

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