Hot Topics
Coin Gecko

Advertisement

Advertisement

Sally Ho's Technical Analysis 27 February 2020 BTC ETH

 
Sally Ho's Technical Analysis 27 February 2020 BTC ETH
Ethereum / Breaking News / Bitcoin / Analytics

Bitcoin (BTC/USD) continued its descent early in today’s Asian session as the pair weakened to the 8602.00 area after selling pressure emerged around the 9425.00 level during yesterday’s Asian session.  The pair has steadily eroded after encountering selling pressure around the 10030.00 area during Monday’s North American session.  The recent gyrations that have seen price activity peak around the 10522.51 level before receding lower below the psychologically-important 9000 figure have traders focusing on both upside price objectives and downside price objectives.  The 9561.24, 9363.20, 9118.37, and 9722.47 areas were downside price objectives related to the depreciation from the 10400.00 area and subsequent selling pressure around the 10004.46 area, and Stops were elected below these levels during the pullback

Some additional important levels that traders are watching include the 8739.96 and 8298.90 levels.  Other important downside price objectives included the 9127, 9078, 8992, 8911, and 8880 areas, and Stops were reached below these levels during yesterday’s European and North American sessions. Above recent market activity, the 10513.53 is an important upside target, and it was right around the recent relative high of BTC/USD.  The next upside level related to 10513.53 is the 10956.95 area.  Additional upside price objectives include the 10615, 10651, 10698, 10718, and 10784 areas.

Price activity is nearest the 50-bar MA (4-hourly) at 9675.99 and the 50-bar MA (Hourly) at 9368.49.

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) extended its recent sell-off early in today’s Asian session as the pair traded as low as the 215.33 area after strong selling pressure reignited bears around the 253.00 area during yesterday’s Asian session.  Traders have pushed the pair lower from the 278.13 level since Monday’s Asian session, consuming a wide range of Stops along the way.  At the beginning of the week, the pair showed signs that it was in the process of breaking out to the upside from its recent trading range as traders lifted the pair first to the 268.71 area followed by the 278.13 area, its strongest showings since the pair weakened from the 290.00 level and then the 287.13 level

This upward buying pressure was short-lived, however, as BTC/USD faded quickly.  Stops were subsequently triggered around the 244.96, 241.99, 240.72, 236.90, 234.12, 230.13, and 226.38 areas during the sharp depreciation lower, all of which were retracement levels related to appreciating ranges higher.  Perhaps the largest Stops were elected below the 230.00 level, representing the 50% retracement of the move from 170.00 to 290.00, and the 224.67 area that represents the 61.8% retracement of the move from 184.29 to 290.00.  Additional downside price objectives include the 212.56, 206.25, and 194.28 areas.

Price activity is nearest the 200-bar MA (4-hourly) at 224.20 and the 50-bar MA (Hourly) at 249.94.

Technical Support is expected around 212.56/ 206.25/ 194.28 with Stops expected below.

Technical Resistance is expected around 296.15/ 304.10/ 312.93 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.

You can share this post!