Hot Topics
Coin Gecko

Advertisement

Advertisement

Sally Ho's Technical Analysis 16 January 2020 BTC ETH

 
Sally Ho's Technical Analysis 16 January 2020 BTC ETH
Ethereum / Breaking News / Bitcoin / Analytics

Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair climbed back to the 8899.00 level during yesterday’s North American session after buying pressure emerged around the 8550.00 area during yesterday’s European session.  The pair has recently traded at its strongest level since early November following a rapid climb from around the 8000 figure to the 8900 figure, a bullish development that could enable traders to test the psychologically-important 9000 figure for the first time since early November.  One indication of BTC/USD’s recent strength has been its recent trading activity above the 8533.25 level, representing the 50% retracement of the move from 10540.49 to 6526.00.  The next upside level in that range is the 9006.95 area followed by the 9593.07 area.

Another indication of the pair’s renewed upside performance is its trading activity above the 50-bar MA (4-hourly)BTC/USD has traded above this indicator since 3 January, and 50-bar MA (4-hourly) is currently indicating above the 100-bar MA (4-hourly) and 200-bar MA (4-hourly).  Likewise, BTC/USD is trading above the 50-bar MA (hourly), 100-bar MA (hourly), and 200-bar MA (hourly), evidencing its recent relative strength.  Following the pair’s recent climb, traders are now eyeing additional upside price objectives including the 8909, 8923, 9011, 9047, 9150, and 9259 levelsStops are cited above the 9242 area.

Price activity is nearest the 50-bar MA (4-hourly) at 8,195.20 and the 50-bar MA (Hourly) at 8,603.99.

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 Bearishly below MACDAverage.

 

Ethereum (ETH/USD) rallied early in today’s Asian session as the pair traded as high as the 168.70 area during yesterday’s North American session after trading above the 170.00 figure during yesterday’s Asian session.  The pair has recently outperformed the expectations of many traders, reflecting a shift in market sentiment and trading bias as traders have been willing to assume more market risk in their trading portfolios.  Recent buying pressure has seen the pair escalate above the 157.87 area, representing the 50% retracement of the 199.50 – 116.25 range.  Notably, the pair recently briefly traded above the 167.70 area, representing the next upside retracement level in that range.  The pair’s recent high around the 172.18 area means it has also recently traded above the 170.30 level, representing the 50% retracement of the move from 224.34 to 116.25, a wider and therefore more important range.

Some measures of the pair’s recent strength include its trading activity above the 50-bar MA (4-hourly), 100-bar MA (4-hourly), and 200-bar MA (4-hourly), and is also positioned above the 50-bar MA (hourly), 100-bar MA (hourly), and 200-bar MA (hourly).   Likewise, the 50-bar MA (4-hourly) is indicating above the 100-bar MA (4-hourly) and the 50-bar MA (hourly) is also indicating above the 100-bar MA (hourly). Following the pair’s recent strength, traders are now monitoring upside price objectives including the 171.06, 174.20, 177.34, and 179.19 areasStops are cited above the 177.11 level.

Price activity is nearest the 50-bar MA (4-hourly) at 146.06 and the 50-bar MA (Hourly) at 157.73.

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 Bullishly above SlowD while MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.

You can share this post!