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Sally Ho's Technical Analysis 28 June 2019

 
Sally Ho's Technical Analysis 28 June 2019
Ethereum / Breaking News / Bitcoin / Analytics

Bitcoin

Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair was lifted to the 11,341.51 area after trading as low as the 10,300 area late in yesterday’s North American session. The pair, however, has depreciated sharply after testing the 13,868.44 level during Wednesday’s North American session, its strongest print since 2018. During the move higher this week, Stops were elected above key upside price extension objectives including the 12117 and 13566 levels. During the pullback lower during yesterday’s North American session, Stops were reached below the 11362 area, representing a downside price extension objective.

The move lower accelerated after the price moved below the 50-bar MA (4-hourly) around the 10,841.70 area. Bids eventually emerged above the 10,271.87 area, representing the 61.8% retracement of the recent 8048.7513,868.44 range. Above current market activity, upside price objectives include the 11,363 and 12,084 areas, representing the 38.2% retracement and 50% retracement of the recent 13,868.44 – 10,300 range. Below current market activity, the 10,087.62 and 9938.16 areas represent potential areas of technical Support.

Price activity is nearest the 50-bar MA (4-hourly) at 10,925.29 and the 200-bar MA (Hourly) at 10,856.19.

Technical Support is expected around 10,234.22/ 9948.12/ 9765.93 with Stops expected below.

Technical Resistance is expected around 11,663.14/ 12,084.22/ 12,505.30 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 Bearishly below MACDAverage.

 

Ethereum

Ethereum (ETH/USD) encountered some upside buying pressure early in today’s Asian session as the pair escalated higher to the 299.14 area after Bids emerged around the 273.50 area late in yesterday’s North American session. Stops were elected above the 294.97 area during the move higher, representing the 23.6% retracement of the move from 364.49 to 273.50. Another level related to this range is the 308.26 area, representing the 38.2% retracement of the same range and Stops are likely in place above this area.

The move lower from the 364.49 area that was reached during Wednesday’s North American session has been generally orderly. Above current market activity, upside price objectives include the 319.00/ 329.73/ 343.02 areas. Below current market activity, areas of technical Support include the 285.42/ 272.56/ 249.90 areas. Additionally, the 250 area represents a downside price extension objective related to the recent high of 364.61.

Price activity is nearest the 50-bar MA (4-hourly) at 304.44 and the 2000-bar MA (Hourly) at 303.70.

Technical Support is expected around 272.56/ 249.90/ 226.56 with Stops expected below.

Technical Resistance is expected around 329.73/ 343.02/ 364.49 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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