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Sally Ho's Technical Analysis 22 August 2019

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

Bitcoin

Bitcoin (BTC/USD) added to its recent positive sentiment early in today’s Asian session as traders continued to battle with some important technical levels that will define the market’s short-term bias. Notably, market activity continues to make strides above the psychologically-important 10,000 figure as traders continue to push towards the 11,000 figure. The market’s recent bounces above key levels including the 9,765/ 9,938/ 10,268/ 10,646 areas have been supportive of price activity over recent trading sessions.

Traders have been attempting to establish a foothold above the 50-bar MA (4-hourly) for several sessions, and traders are attempting to test the 100-bar MA (4-hourly). In order to advance higher, traders will need to establish some Bids above the 100-bar MA (4-hourly). Also, traders have been attempting to gain traction above the 200-bar MA (hourly), and it appears the 50-bar MA (hourly) and 200-bar MA (hourly) are converging.  Upside price targets include the 11,032 and 11,175 levels.

Price activity is nearest the 100-bar MA (4-hourly) at 11,053.42 and the 200-bar MA (Hourly) at 10,575.83.

Technical Support is expected around 9,765.93/ 9,265.49/ 8,919.72 with Stops expected below.

Technical Resistance is expected around 11,136.82/ 11,333.91/ 11,510.44 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) reclaimed the psychologically-important 200.00 figure recently and traders attempted to add to gains early in today’s Asian session, a couple of days after traders absorbed that level for the first time since 14 August. Traders have been attempting to establish buying pressure above the 50-bar MA (4-hourly), with Bids having recently kept the pair supported around the 196.21 level.  Technicians continue to assess market sentiment and short-term bias, as the pair continues to trade between the 50-bar MA (4-hourly) and 100-bar MA (4-hourly)

Above those levels, the 200-bar MA (4-hourly) continues to represent technical Resistance. Chartists are looking to see if the pair can remain Bid above the 196.15 level, representing the 76.4% retracement of the move from 144.15 to 364.49. A very important level that chartists are watching is the 202.27 level, representing the 61.8% retracement of the move from 148.81 to 288.77.  Another important area remains the 209.75 level, representing the 23.6% retracement of the 627.8380.60 range.  The 217.55 and 218.79 areas remain important technical levels.

Price activity is nearest the 50-bar MA (4-hourly) at 196.14 and the 200-bar MA (Hourly) at 196.03.

Technical Support is expected around 191.40/ 183.33/ 178.47 with Stops expected below.

Technical Resistance is expected around 206.18/ 209.75/ 217.55 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.

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