Today's Hot Topics

Sally Ho's Technical Analysis 7 June 2019

 
Sally Ho's Technical Analysis 7 June 2019
Ethereum / Breaking News / Bitcoin / Analytics

Bitcoin

Bitcoin (BTC/USD) gained some marginal ground early in today’s Asian session as the pair climbed higher to the 7835.79 area after trading as low as the 7450.00 level in yesterday’s North American session. BTC/USD continues to encounter technical Resistance around the 7881.93 area, representing the 76.4% retracement of the projected range of 7470.51 – 9213.84, an upside price objective. The pair has derived some technical Support around the 7759.18 area, representing the 23.6% retracement of the move from 8834.54 to 7427.00, and is attempting to find a floor there early in today’s Asian session.

Above current price activity, chartists are focusing on some levels related to the same range including 7964/ 8130/ 8296/ 8502. Some additional upside price objectives related to the projected upside price target of 9213 include 8342/ 8547/ 8802. Likewise, the 10,271 area is another important upside price objective and some key upside technical Resistance levels related to this range include 8002/ 8435/ 8868/ 9405. Technicians also note BTC/USD derived some technical Support around the 200-bar MA (4-hourly) during yesterday’s North American session.

Price activity is nearest the 200-bar MA (4-hourly) at 7611.48 and the 50-bar MA (Hourly) at 7768.75.

Technical Support is expected around 7343.17/ 7187.64/ 6881.34 with Stops expected below.

Technical Resistance is expected around 8230.98/ 8566.38/ 8761.96 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 Bullishly above MACDAverage.

 

Ethereum

Ethereum (ETH/USD) halted its upward trajectory early in today’s North American session as the pair traded as high as the 252.00 figure and then came off to the 246.78 area. After some downward pressure during yesterday’s European session, ETH/USD found a floor around the 235.32 area during the North American session before marching higher. Yesterday’s intraday low was right around the 38.2% retracement of the move from 148.81 to 88.77.

Below current price activity, the 200-bar MA (4-hourly) is now indicating around 231.54 and the price has not tested this area since 9 May 2019. The 239.64 area represents the 23.6% retracement of the move from 80.60 to 288.77. There are a variety of technical Support levels situated between 231.12 and 239.64, thus it is likely there are many Stops below some of these levels and if elected, those Stops could hasten a slide lower.

Price activity is nearest the 100-bar MA (4-hourly) at 257.55 and the 100-bar MA (Hourly) at 248.84.

Technical Support is expected around 235.31 /231.12/ 223.08 with Stops expected below.

Technical Resistance is expected around 249.08/ 262.11/ 276.18 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.

You can share this post!