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Sally Ho's Technical Analysis 10 September 2019

 
Sally Ho's Technical Analysis 10 September 2019
Ethereum / Breaking News / Bitcoin / Analytics

Bitcoin

Bitcoin (BTC/USD) gained a small amount of ground early in today’s Asian session as the pair climbed higher to the 10389.26 area, stopping just short of again testing the 50-bar MA (4-hourly), currently indicating around the 10421.34 area.  The 50-bar MA (4-hourly) and the 200-bar MA (4-hourly) are converging and if the 50-bar MA (4-hourly) crosses above, it could represent Bullish price activity ahead.  During yesterday’s European session, the pair stopped just short of testing the 10046.06 area, representing the 23.6% retracement of the 13202.63 – 9071.00 range.

After this move lower yesterday, the pair quickly escalated to multi-session highs and traded above the 200-bar MA (4-hourly) before receding and finding technical Support just above the 100-bar MA (4-hourly).  Traders may face some short-term price pressures as price activity continues to trade below the 50-bar MA (hourly), 100-bar MA (hourly), and 200-bar MA (hourly).  Upside price objectives include the 10,956.99, 11,136.82, and 11,333.91 areas.

Price activity is nearest the 50-bar MA (4-hourly) at 10,421.34 and the 50-bar MA (Hourly) at 10,373.44.

Technical Support is expected around 9,765.93/ 9,532.39/ 9,265.49 with Stops expected below.

Technical Resistance is expected around 10,833.14/ 11,136.82/ 11,759.72 with Stops expected above.

On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.

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

 

Ethereum

Ethereum (ETH/USD) appreciated in today’s Asian session and reached the 184.55 level, just above the 76.4% retracement of the move from 186.00 to 178.41.  During yesterday’s European session, the pair remained bid above the 50-bar MA (4-hourly), a Bullish indication that short-term price sentiment could be positive. Traders are waiting to see if the pair can establish a constructive base at or above the 100-bar MA (4-hourly), currently indicating around the 177.72 area. 

Above current market activity, the 200-bar MA (4-hourly) could represent some short-term technical Resistance, currently indicating around the 188.40 area.  Above that area, the 191.40 level is an upside price objective that the market has not tested since 25 August, representing the 50% retracement of the move from 302.20 to 80.60Stronger selling pressure is expected around the 196 – 197 area, with stronger selling pressure around the 202 – 206 area.

Price activity is nearest the 200-bar MA (4-hourly) at 188.40 and the 50-bar MA (Hourly) at 180.81.

Technical Support is expected around 172.88/ 167.80/ 165.25 with Stops expected below.

Technical Resistance is expected around 188.38/ 191.40/ 201.38 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 Bullishly above MACDAverage.

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