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Sally Ho's Technical Analysis 9 January 2020 BTC ETH

Sally Ho's Technical Analysis 9 January 2020 BTC ETH

Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair climbed higher to the 8037.47 area after trading as low as the 7845.00 level during yesterday’s North American session.  The market traded as high as the 8469.39 area during yesterday’s Asian session after Stops were elected above the 8449 area, an upside price objective.  A strong bid has returned to the market over the past week and this has seen the pair easily absorb some areas of technical resistance and upside price objectives.  Notably, the 8059.54 area was a downside price objective related to the late-October high of 10540.49

Decent Stops were elected above this area and they pushed the pair through the 8289.82 level, another previous downside price objective related to the downturn from 10540.49 last quarter.  BTC/USD’s recent low around the 6430.00 level has anchored the pair’s recent escalation higher, supported by bids that emerged around the 7053.32 area and later by stronger buying pressure around the 6854.67 area.  Additional bids around the 7263.32 and 7312.22 levels propelled the pair higher this week, grabbing Stops above the 8063, 8179, and 8336 areas. Traders cite upside price objectives including the 8588, 8795, and 9072 levels.

Price activity is nearest the 50-bar MA (4-hourly) at 7,498.99 and the 50-bar MA (Hourly) at 8,069.03.

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 Bearishly below MACDAverage.


Ethereum (ETH/USD)
gained ground early in today’s Asian session as the pair moved higher to the 140.62 area after finding buying pressure around the 137.03 area during yesterday’s North American session.  During yesterday’s Asian session, the pair traded as high as the 148.00 figure before coming off.  The pair has made strong moves to the upside so far this year as traders have recently pushed the pair to its strongest levels since early December.  Offers emerged on Tuesday just below the 148.05 area, representing the 38.2% retracement of the move from 199.50 to 116.25.  The pair’s next upside level in this range is the 157.87 area, representing the 50% retracement.

The pair’s upside gains were anchored by bids that have emerged around the 131.00 and 134.15 areas during the pair’s ascent higherStops were elected above the 137.85 area earlier this week, a recent relative high from late December.  After those areas were absorbed, traders were able to test and take out upside price objectives including the 140.23 and 140.94 areas. Stops were later elected above the 143.70 and 145.39 areas, both of which represented upside price objectives.  Traders are eyeing the 152.15 level as an upside target, but before this level is reached traders must advance above the 150.89 area.  Additional upside targets include the 154.93 and 159.78 areas.

Price activity is nearest the 200-bar MA (4-hourly) at 135.54 and the 100-bar MA (Hourly) at 140.13.

Technical Support is expected around 139.13/ 137.61/ 132.90 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 Bearishly below SlowD while MACD is Bearishly below MACDAverage.

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

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