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Sally Ho's Technical Analysis 10 January 2020 BTC ETH

Sally Ho's Technical Analysis 10 January 2020 BTC ETH

Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair climbed higher to the 7813.77 area after trading as low as the 7744.48 level during yesterday’s North American session.  Other than retracing higher to the 7995.72 area earlier in yesterday’s North American session, the pair has been Given after peaking around the 8469 level a couple of days ago.  Market sentiment has shifted over the past several days following the pair’s rapid climb above the psychologically-important 8000 figure after decisively moving above the 7000 figure.  During the pair’s ascent, Stops were elected above the 8449 area, an upside price objective related to the pair’s recent low around the 6854.67 area

Since then, traders pushed the pair back below the 8000 figure and Bids emerged around the 7845.00 area, just below the 7852.57 area that represents the 38.2% retracement of the recent move from 6854.67 to 8469.39.  The next areas of downside support in that range include the 7662, 7471, and 7235 levels.  Chartists have noted that the 50-bar MA (4-hourly) has just bullishly crossed above the 100-bar MA (4-hourly) and 200-bar MA (4-hourly), and that price activity remains above these indicators.  Likewise, the 50-bar MA (hourly) is indicating above the 100-bar MA (hourly) and 200-bar MA (hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 7,579.43 and the 100-bar MA (Hourly) at 7,870.17.

Technical Support is expected around 7712.45/ 7568.45/ 6526.00 with Stops expected below.

Technical Resistance is expected around 8587.90/ 8799.53/ 9006.95 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 (ETH/USD) staged a small recovery early in today’s Asian session as the pair gained ground to the 137.23 level after trading as low as the 135.12 area.  Other than a retracement higher to the 141.38 area, the pair has been Given since peaking around the 148.00 figure a couple of days ago.  Traders are curious to see if the recent upward momentum will remain in the market, following the recently improved sentiment and improving bias.  This improved market sentiment saw the market escalate higher to the 148.00 figure this week, stopping just short of testing the psychologically-important 150.00 figure.  During the pair’s pullback this week after establishing multi-week lows, buying pressure emerged around the 137.03 area, just above the 136.76 area that represents the 50% retracement of the move from 125.52 to 148.00

The market could not sustain this level, though, and are now focused on the next downside levels in this range including the 134.11 and 130.83 areas.  One nearby level that traders continue to monitor is the 137.92 area, representing the 76.4% retracement of the move from 131.80 to 157.73.  Traders who expect a resumption of the pair’s upward trajectory are eyeing upside targets including the 150.89 and 154.93 levelsStops are likely in place above the 159.78 area.  Chartists have noted that the 50-bar MA (4-hourly) has bullishly just crossed above the 200-bar MA (4-hourly) and recently crossed above the 100-bar MA (4-hourly).  Likewise, the 50-bar MA (hourly) is currently indicating above the 100-bar MA (hourly) and 200-bar MA (hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 136.60 and the 200-bar MA (Hourly) at 136.35.

Technical Support is expected around 135.12/ 132.90/ 130.83 with Stops expected below.

Technical Resistance is expected around 148.05/ 153.00/ 157.73 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 Bullishly above SlowD while MACD is Bullishly above MACDAverage.

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