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Sally Ho's Technical Analysis 27 August 2019

 
Sally Ho's Technical Analysis 27 August 2019
Ethereum / Breaking News / Bitcoin / Analytics

Bitcoin

Bitcoin (BTC/USD) consolidated recent gains early in today’s Asian session as the pair continued to orbit the 10,367.06 area, an important level that represents the 38.2% retracement of the move from 4,702.53 to 13,868.44Stops were reached early in yesterday’s Asian session when the pair moved sharply above this level but intraday gains could not be sustained, and the pair fell back as low as the 10,168.59 area during the pullback.  During the rapid climb higher, the pair reached some Stops above the 10,638.50 level, representing the 50% retracement of the move from 7,427.00 to 13,850.00.

This range is currently very important to the pair, as recent trading activity has seen the 9,880.59 area server as technical Support for the pair. Traders are looking to see if buying activity above the 50-bar MA (hourly) and 100-bar MA (hourly) can be sustained, and if there is enough price momentum to establish a base around the 200-bar MA (hourly). Technicians are observing a more immediate range the pair that is proving some short-term technical Support and technical Resistance for the pair with the 10,211 area below market activity and the 10,386 area above market activity.

Price activity is nearest the 50-bar MA (4-hourly) at 10,314.90 and the 200-bar MA (Hourly) at 10,311.60.

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/ 11,262.06/ 11,510.44 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.

 

Ethereum

Ethereum (ETH/USD) found a little bit of buying power early in today’s Asian session as the pair moved up to the 188.90 level, right around the 61.80% retracement of the move from 80.60 to 364.49.  After trading as high as the 194.28 level during yesterday’s Asian session, the pair depreciated to the 183.93 area but has managed to remain Bid above this level that represents the 76.4% retracement of the move from 180.00 to 196.66.  The pair is still unable to gain sustainable traction above the 50-bar MA (4-hourly) following its recent move to the 196.66 area.

An important level that traders continue to monitor is the 183.33 area, representing the 23.6% retracement of the move from 515.88 to 80.60.  Additionally, the 188.38 level is technically significant and one traders are closely watching, representing the 61.8% retracement of the move from 255.00 to 80.60.  Market activity remains below the 50-bar MA (hourly), 100-bar MA (hourly), and 200-bar MA (hourly) and it appears ETH/USD Bears firmly in control at the moment. Below these levels, chartists are watching the 175.06 and 172.88 areas.

Price activity is nearest the 50-bar MA (4-hourly) at 191.70 and the 50-bar MA (Hourly) at 188.86.

Technical Support is expected around 183.33/ 178.47/ 172.88 with Stops expected below.

Technical Resistance is expected around 201.38/ 206.18/ 209.75 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.

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