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Sally Ho's Technical Analysis 27 January 2020 LTC BCH

Sally Ho's Technical Analysis 27 January 2020 LTC BCH

Litecoin (LTC/USD) appreciated early in today’s Asian session as the pair was lifted to the 57.11 area after buying pressure emerged around the 55.54 level during yesterday’s European session.  Selling pressure last week saw offers emerge around the 62.50 area and drive the pair lower to the 50.63 area, its weakest level since 13 January.  Decent Stops were elected below the 54.61 area, representing the 61.8% retracement of the move from 66.19 to 35.88.  Additional Stops were then triggered below the 51.04 area, representing the 50% retracement of the move from 66.19 to 35.88.  Also, Stops were reached below the 56.73 and 52.75 areas, representing the 23.6% and 38.2% retracements of the move from 35.88 to 63.17.

The next downside level in this range is the 49.53 area, representing the 50% retracement, followed by the 46.30 and 42.32 areas.  Another important level that was given last week was the 52.83 area, below which Stops were executed, and the next downside level related to it is the 46.35 area.  Likewise, the 52.67 area is an important level related to the move lower from the 107.04 area, and Stops were reached below this area last week.  Buying pressure is expected around the 49.84, 49.35, and 48.03 levels and selling pressure is expected around the 56.70, 57.32, and 60.68 areas.

Price activity is nearest the 50-bar MA (4-hourly) at 55.83 and the 200-bar MA (Hourly) at 55.86.

Technical Support is expected around 55.35/ 53.07/ 51.38 with Stops expected below.

Technical Resistance is expected around 60.68/ 61.93/ 63.06 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 Bearishly below MACDAverage.



Bitcoin Cash (BCH/USD) appreciated early in today’s Asian session as the pair was lifted to the 316.23 area after bids emerged around the 306.21 level during yesterday’s North American session.

Last week’s price activity saw traders test an important short-term price level, namely the 325.61 area that represents the 50% retracement of the move from 354.54 to 296.69.  The technical significance of this range was confirmed when the pair moved higher and tested the 310.34 area late last week, representing the 23.6% retracement of the range.  The failure to establish traction above the 325.61 area saw a pullback and Stops were elected below the 314.59, 311.17, and 307.75 areas, representing the 38.2%, 50%, and 61.8% retracements of the move from 296.69 to 325.65.

The next downside level in that range is the 303.52 area.  Some traders believe the pair’s downside bias appears to be intact, and if the markets are able to get back below the 296.69 area and sustain the move below, downside price objectives including the 295.49 and 289.35 areas will come into view.  Also, the 287.52 area is another major downside price objective, representing the 50% retracement of the move from 170.03 to 405.00.  Another series of levels representing potential bids related to the pair’s climb from the 191.48 area earlier this month.  These areas include the 297.90, 293.26, 283.00, and 277.58 levels.

Price activity is nearest the 50-bar MA (4-hourly) at 332.74 and the 200-bar MA (Hourly) at 332.55.

Technical Support is expected around 296.69/ 261.14/ 254.38 with Stops expected below.

Technical Resistance is expected around 393.09/ 405.00/ 422.88 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 Bearishly below MACDAverage.

 

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