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Sally Ho's Technical Analysis 8 September 2019

 
Sally Ho's Technical Analysis 8 September 2019
Breaking News / Bitcoin Cash / Analytics / Litecoin

Litecoin

Litecoin (LTC/USD) appreciated a little bit early in today’s Asian session as the pair reached the 70.00 figure after trading as high as the 70.58 area in yesterday’s North American session and finding buying pressure around the 64.64 area during yesterday’s European session.  Traders are trying to establish a base around the 100-bar MA (4-hourly), currently indicating around the 68.71 area, and keep the pair above the 50-bar MA (4-hourly).  Traders also established a base around the 66.80 area during the move higher, representing the 61.8% retracement of the move from 94.39 to 22.17.

Price activity saw LTC/USD easily move above the 50-bar MA (hourly), 100-bar MA (hourly), and 200-bar MA (hourly) during the move higher.  One very important level that traders are watching is the 62.58 area, representing the 38.2% retracement of the move from 127.95 to 22.17LTC/USD tested this area between 29 August and 31 August, evidence of its technical significance. Above current market activity, traders are monitoring levels including the 75.06 and 76.39 areas, with some Offers seen around the 83.36 and 84.09 levels.

Price activity is nearest the 100-bar MA (4-hourly) at 68.71 and the 100-bar MA (Hourly) at 66.88.

Technical Support is expected around 64.86/ 59.97/ 51.00 with Stops expected below.

Technical Resistance is expected around 75.06/ 83.36/ 87.54 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 Bullishly above MACDAverage.

 

Bitcoin Cash

Bitcoin Cash (BCH/USD) moved higher early in today’s session as the pair traded as high as the 305.50 level after trading as low as the 278.60 area during yesterday’s Asian session, right around the 76.4% retracement of the move from 270.17 and 306.37 area. The pair steadily appreciated and climbed above the 50-bar MA (4-hourly) and 100-bar MA (4-hourly), and now has the 200-bar MA (4-hourly) within its sights, currently indicating around the 308.78 area.

BCH/USD also easily appreciated above the 200-bar MA (hourly), 50-bar MA (hourly), and 100-bar MA (hourly) over the past few trading sessions, and traders built a base above the 100-bar MA (hourly) during yesterday’s North American session on a pullback around the 294.19 area. Above current market activity, price targets include the 312.81 and 323.61 areas.

Price activity is nearest the 200-bar MA (4-hourly) at 308.78 and the 100-bar MA (Hourly) at 294.06.

Technical Support is expected around 275.42/ 262.40/ 237.83 with Stops expected below.

Technical Resistance is expected around 306.37/ 312.81/ 323.61 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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