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Sally Ho's Technical Analysis 8 June 2019

 
Sally Ho's Technical Analysis 8 June 2019
Ethereum / Breaking News / Bitcoin / Analytics

Bitcoin

Bitcoin (BTC/USD) gained some ground early in today’s Asian session as the pair moved higher back to the 8083.27 area and was supported around the 7975.01 level. Yesterday’s intraday high was established during the North American session as BTC/USD traded around the 8134.29 area, right around the 38.2% retracement of the 6600.00 – 9090.00 range. Also, yesterday’s intraday high was right around the 50% retracement of the 8834.54 – 7427.00 range. The pair continues to trade below the 50-bar MA (4-hourly), currently indicating around 8168.43. During yesterday’s North American session, some technical clues emerged when the pair derived technical Support right around the 38.2% retracement of the 7450.00 – 8134.28 range.

BTC/USD Bulls are eyeing a couple of upside levels where some profits might be taken including the 8296.86 and 8502.36 areas, both of which are related to the move lower from 8834.00. Some additional upside price targets include 8258/ 8454/ 8697, areas of technical Resistance related to the 9090.00 – 7427.00 range. Below current price activity, technical Support is seen around the 7792/ 7711/ 7611 areas. Additional Bids are expected around the 7558 area. Chartists are noting that the 50-bar MA (hourly) is just crossing above the 100-bar MA (hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 8168.43 and the 50-bar MA (Hourly) at 784847.

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 Bearishly below MACDAverage.

 

Ethereum

Ethereum (ETH/USD) appreciated early in today’s Asian session as the pair gained ground to tackle the 252.59 area, right around the 50% retracement of the move from 281.89 to 222.99.  Late during yesterday’s North American session, the pair traded as high as the 254.40 level, just below the 23.6% retracement of the move from 144.15 to 288.77 and also below the 50-bar MA (4-hourly) which was indicating at 255.46 around that time.  During yesterday’s European session, some Bids emerged around the 246.23 area, right around the 23.6% retracement of the range from 288.77 to 233.00.

During yesterday’s Asian session, some Bids emerged right around the 76.4% retracement of the 231.12 – 288.77 range, and this likely means technical Resistance areas above current market activity are relevant including 259.95/ 266.75/ 275.16. Technicians are also eyeing additional upside price targets related to the move higher from 222.88. These upside areas of likely technical Resistance include 255.83/ 263.60/ 273.22. Additionally, the 272.56 area remains a key level, representing the 23.6% retracement of the move from 894.00 to 80.60. Chartists note that the 50-bar MA just crossed above the 100-bar MA, a potentially Bullish signal.

Price activity is nearest the 50-bar MA (4-hourly) at 254.34 and the 50-bar MA (Hourly) at 246.77.

Technical Support is expected around 246.16/ 235.31 /231.12 with Stops expected below.

Technical Resistance is expected around 258.80/ 266.75/ 275.16 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 Bullishly above SlowD while MACD is Bearishly below MACDAverage.

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