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Sally Ho's Technical Analysis 25 February 2020 BTC ETH

 
Sally Ho's Technical Analysis 25 February 2020 BTC ETH
Ethereum / Breaking News / Bitcoin / Analytics

Bitcoin (BTC/USD) depreciated early in today’s Asian session as the pair came off to the 9501.66 area after peaking around the 10030.00 level during yesterday’s Asian session.  Stops were elected below the 9759 and 9561 areas during yesterday’s pullback.  Traders have bid the price higher from the 9280.98 area following its rapid crash from the 10315.00 area last week, selling pressure that actually began days earlier when the price peaked around the 10400.00 level.  Chartists observed that the pair briefly traded above the 10804.10 level, an area related to downside price objectives that emerged after selling pressure started around the 10400 levelDownside levels related to this range include the 9363 and 9118 levels.

Another related range that traders are watching is the move from 10315.00 to 9280.98.  During the move higher, traders were unable to test the 10070.97 level, representing the 76.4% retracement of this range, and that set the stage for lower price activity around other retracement levels in that range including the 9920, 9797, 9675, and 9525 areas.  The pair’s high during the move higher was also not too far above the 100-bar MA (4-hourly), and this is also pressuring BTC/USD lower.   Traders are split whether bullish sentiment or bearish sentiment will prevail in the short-termBelow current market activity, traders anticipate bids around the 9169.41, 8911.79, and 8739.96 areas.  Above current market activity, traders anticipate offers around the 10167, 10215, and 10397 levels.

Price activity is nearest the 200-bar MA (4-hourly) at 9520.94 and the 100-bar MA (Hourly) at 9730.11.

Technical Support is expected around 9370.10/ 9121.40/ 8760.28 with Stops expected below.

Technical Resistance is expected around 10534.04/ 10652.04/ 10698.24 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 Bearishly below SlowD while MACD is Bearishly below MACDAverage.

 

Ethereum (ETH/USD) slumped early in today’s Asian session as the pair came off to the 256.06 area after trading as high as the 278.13 level during yesterday’s Asian session.  Stops were executed around the 269 and 263 areas during the pullback lower.  One trading range that traders continue to monitor is the depreciation from 290.00 to 236.36, the range that developed after traders were recently unable to challenge the psychologically-important 300.00 figure.  During the pair’s recent appreciation, the market high was around the 275.79 area, not too far below the 277.34 area that represents the 76.4% retracement of this rangeDownside retracement levels related to this range include the 256 and 248 areas. 

Another important trading range that traders are monitoring is the narrower move from 287.13 to 245.25.  Important retracement levels in that range include the 277, 271, 266, 261, and 255 areas, and the market may take some short-term direction from these levels.  Traders are also monitoring some moving averages and price activity.  Traders are waiting to see if price activity can remain above the 50-bar MA (4-hourly), and note that the 50-bar MA (hourly) bullishly crossed above the 200-bar MA (hourly) during Sunday’s North American session, a technical development that may coincide with some additional price appreciation.  Below current market activity, traders are anticipating possible technical support around the 234, 230, 220, and 216 levels. Above current market activity, traders are anticipating technical offers around the 281, 293, 302, and 307 levels.

Price activity is nearest the 100-bar MA (4-hourly) at 257.35 and the 100-bar MA (Hourly) at 264.85.

Technical Support is expected around 230.27/ 226.38/ 222.73 with Stops expected below.

Technical Resistance is expected around 272.56/ 296.15/ 304.10 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 Bearishly below SlowD while MACD is Bearishly below MACDAverage.

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