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Sally Ho's Technical Analysis 2 September 2019

 
Sally Ho's Technical Analysis 2 September 2019
Ethereum / Breaking News / Bitcoin / Analytics

Bitcoin

Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair climbed to the 9840.00 level after finding some Bids around the 9539.58 level during yesterday’s North American session. The surge higher took BTC/USD to it strongest level since its depreciation from the 10277.00 figure days ago, but the pair stopped short of testing the 50-bar MA (4-hourly), currently indicating around the 9862.95 area.  During a pullback late in yesterday’s North American session, Bids emerged around the 9765.93 area, representing the 38.2% retracement of the 3128.89 – 13868.44 range.

Some positive clues emerged regarding BTC/USD’s upward short-term bias when the 50-bar MA (hourly) crossed above the 100-bar MA (hourly), with Bids then emerging around and above the 50-bar MA (hourly).  The 200-bar MA (hourly) is now indicating around the 9876.17 level, right around a retracement area at 9880.59 that represents the 61.8% retracement of the 7427.00 – 13850.00 range.  Likewise, the 9948.12 level was a previous recent high and traders should anticipate some possible light technical Resistance around that level.

Price activity is nearest the 50-bar MA (4-hourly) at 9862.95 and the 100-bar MA (Hourly) at 9,577.25.

Technical Support is expected around 9,265.49/ 8,919.72/ 8,488.00 with Stops expected below.

Technical Resistance is expected around 9,964.93/ 10,101.47/ 10,238.00 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.

 

Ethereum

Ethereum (ETH/USD) was slightly stronger early in today’s Asian session as the pair traded as high as the 172.83 level after finding some Bids around the 168.03 area during yesterday’s North American session. During intraday pullbacks yesterday, Bids emerged around the 168.69 and 169.89 areas, short-term retracement levels related to the 173.80 – 163.57 range, and these suggest a short-term upward bias for ETH/USD.

Positive clues emerged when the 50-bar MA (hourly) crossed above the 100-bar MA (hourly) with Bids then emerging above the 50-bar MA (hourly). During the move higher, selling pressure was seen right around the 172.88 area, representing the 38.2% retracement of the move from 322.16 to 80.60.  Above that area, traders are closely watching another retracement area around the 175.06 level, with the 200-bar MA (hourly) just above that area and indicating around the 178.40 area.

Price activity is nearest the 50-bar MA (4-hourly) at 178.02 and the 50-bar MA (Hourly) at 170.11.

Technical Support is expected around 165.25/ 152.08/ 142.22 with Stops expected below.

Technical Resistance is expected around 178.77/ 181.84/ 187.46 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 Bearishly below SlowD while MACD is Bullishly above MACDAverage.

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