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Sally Ho's Technical Analysis 28 August 2019

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

Bitcoin

Bitcoin (BTC/USD) marched lower early in today’s Asian session as the pair retreated to the 10,105.02 area after encountering some selling pressure around the 10,232.13 area late in yesterday’s North American session, just below the 50% retracement of the move from 6,600 to 13,868.44.  Traders took the pair as low as the 10,019.56 area during yesterday’s North American session following some selling pressure that emerged around the 10,395.77 area during yesterday’s Asian session. These Offers were a little bit above the 10,367.06 area, representing the 38.2% retracement of the move from 4,702.53 to 13,868.44.

Market sentiment for BTC/USD continues to be neutral-to-bearish as the pair remains Given below its 50-bar MA (4-hourly), 100-bar MA (4-hourly), and 200-bar MA (4-hourly), and also Given below its 50-bar MA (hourly), 100-bar MA (hourly), and 200-bar MA (hourly).  If BTC/USD is going to resume its ascent, traders must constructively establish Bids around those levels. Technicians continue to observe the pair’s general 9,880 – 10,638 range at present.  Below current market activity, BTC/USD Bears continue to project downside price objectives including 9,921, 9,758, and 9,689.

Price activity is nearest the 50-bar MA (4-hourly) at 10,269.15 and the 100-bar MA (Hourly) at 10,204.17.

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 Bullishly above SlowD while MACD is Bearishly below MACDAverage.

On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.

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Ethereum

Ethereum (ETH/USD) recovered some lost ground early in today’s Asian session as the pair depreciated to the 184.33 level and then recovered back above the 187.00 figure.  The pair ran into Offers around the 189.00 figure during yesterday’s North American session, representing the 61.8% retracement of the move from 80.60 to 364.49.  This level also presented problems for the pair during yesterday’s Asian session as well, and trading activity during yesterday’s European session was relatively muted.

Price activity continues to trade below ETH/USD’s 50-bar MA (4-hourly), 100-bar MA (4-hourly), 200-bar MA (4-hourly), and also below the pair’s 50-bar MA (hourly), 100-bar MA (hourly), and 200-bar MA (hourly).  Chartists continue to observe how the pair trades and behaves around the 183.84 level, a downside price objective related to the pair’s depreciation from the 318.59 area. Bids are anticipated between the 172 – 175 area and with additional buying pressure between the 165 – 167 area.

Price activity is nearest the 50-bar MA (4-hourly) at 190.46 and the 50-bar MA (Hourly) at 187.92.

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 Bullishly above SlowD while MACD is Bearishly below MACDAverage.

On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.

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