Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair was lifted to the 9955.00 area after demand emerged around the 9653.47 area during yesterday’s Asian session. The pair has recently traded at its highest levels since late October as traders have pushed the pair closer to the psychologically-important 10000 figure. Stops were most recently elected above the 9819.33 and 9845.15 levels, upside price objectives that gained technical significance after buying pressure emerged around the 8041.95 and 6430.00 areas. Above current market activity, price objectives include the 9948.51, 9955.91, 9963.74, 9961.01, and 9983.33 levels, and Stops are likely in place above these important levels.
Above the psychologically-important 10000 figure, additional upside price objectives are likely in place around the 10017.50, 10041.59, 10060.54, and 10104.90 areas, and Stops are also likely in place above these levels. BTC/USD continues to trade well above the 50-bar MA (4-hourly) and the 50-bar MA (hourly) has recently provided the pair with technical support when tested by price activity. Given the pair’s recent upside gains, technical support is now likely around the 9491, 9382, 9247, 9050, 9039, and 8854 areas during pullbacks. Additional Stops are expected above the 10187 and 10313 areas.
Price activity is nearest the 50-bar MA (4-hourly) at 9496.76 and the 50-bar MA (Hourly) at 9787.53.
Technical Support is expected around 9370.10/ 9128.51/ 8156.16 with Stops expected below.
Technical Resistance is expected around 9963.74/ 10167.80/ 10313.70 with Stops expected above.
On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.
On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.
Ethereum (ETH/USD) extended recent gains early in today’s Asian session as the pair was lifted to the 228.40 area after buying pressure emerged around the 213.24 area during yesterday’s Asian session. The pair has been bid higher for most of the year, and recently eclipsed and traded above the psychologically-important 200.00 figure for the first time since September. A series of Stops were elected during the move higher above the 197.96, 199.93, 200.54, 201.35, 203.54, 205.61, and 209.02 levels. Traders and chartists will be interested to see if these levels become technical support during pullbacks in price.
Additional Stops were activated above the 211.35, 216.36, 220.65, 222.73, and 223.53 areas as traders pushed price activity to the 228.40 area. Above those levels, upside price objectives include the 230.55, 232.54, and 234.12 areas. Further above current price activity, traders are eyeing the technically-significant 249.90 area, representing the 76.4% retracement of the move from 302.20 to 80.60. Following the pair’s ongoing upside trajectory, areas of potential technical support during pullbacks lower have changed and they include the 216.49, 215.22, 211.85, and 209.31 levels.
Price activity is nearest the 50-bar MA (4-hourly) at 199.28 and the 50-bar MA (Hourly) at 220.80.
Technical Support is expected around 195.32/ 183.33/ 170.00 with Stops expected below.
Technical Resistance is expected around 229.46/ 236.90/ 243.62 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.