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Sally Ho's Technical Analysis 15 January 2020 BTC ETH

 
Sally Ho's Technical Analysis 15 January 2020 BTC ETH
Ethereum / Breaking News / Bitcoin / Analytics

Bitcoin (BTC/USD) rocketed higher early in today’s Asian session as the pair reached the 8859.17 area after buying pressure commenced during Monday’s North American session around the 8061.00 levelStops were elected above the 8585, 8694, 8793, and 8799 levels during the pair’s steady ascent that intensified during yesterday’s North American session.  Traders are now focusing on the 9006.95, 9003.54, 9071.12, and 9128.51 areas as upside price objectives.  Chartists also note that the 9150.15 area represents technical resistance.

The movement to the upside absorbed the 8338.78 area, a level that represents the 76.4% retracement of the move from 9948.12 to 3128.89.  Another important range that traders continue to monitor is the recent appreciation from the 6854.67 to 8469.39.  One important level in this range is the 7662.03 area, representing the 50% retracement of that range, with the next downside levels at the 7471.49 and 7235.74 area.   Below current price activity, traders anticipate Bids around the 7597, 7473, 7313, and 7117 areas.  Additional upside price objectives include the 9593.08 and 9665.70 levels.

Price activity is nearest the 50-bar MA (4-hourly) at 8,104.72 and the 50-bar MA (Hourly) at 8,311.30.

Technical Support is expected around 8338.78/ 7662.03/ 7568.45 with Stops expected below.

Technical Resistance is expected around 9006.95/ 9128.51/ 9593.07 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.

 

Ethereum (ETH/USD) made major gains early in today’s Asian session as the pair traded as high as the 170.83 level after launching higher from the 142.10 level during Monday’s European session.  Major Stops were elected above the 153.46 and 153.64 areas during the move higher, upside price objectives related to a recent low around the 125.52 area.  Additional Stops were reached above the 155.74 and 157.73 areas, with additional Stops reached above the 160.27, 161.39, and 162.09 areas.  Technical resistance was handily absorbed during the market’s rapid ascent.

Prior to the sharp move higher, the pair had been trading in a sideways manner for several days following its recent tests of the 148.00 figure, an important technical level that it previously could not move above due to technical pressures just above that area. Below current price activity, traders will pay close attention to levels including the 157.19, 152.98, and 148.76 levels.  Above current market activity, upside price objectives include the 175.49, 179.85, and 181.75 levels.  Stops are cited above the 181.75 and 188.50 areas.

Price activity is nearest the 50-bar MA (4-hourly) at 143.87 and the 50-bar MA (Hourly) at 148.54.

Technical Support is expected around 159.86/ 156.47/ 153.07 with Stops expected below.

Technical Resistance is expected around 175.04/ 180.45/ 187.15 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.

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