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Sally Ho's Technical Analysis 21 March 2020 BTC ETH

 
Sally Ho's Technical Analysis 21 March 2020 BTC ETH
Ethereum / Breaking News / Bitcoin / Analytics

Bitcoin (BTC/USD) came off early in today’s Asian session as the pair depreciated to the 6343.30 level during yesterday’s North American session after trading as high as the 6990.00 area during yesterday’s North American session.  Upward price momentum had been decent since the pair was lifted from the 5001.00 area during Wednesday’s North American session and the pair traded as high as the 6990.00 area during Thursday’s North American session.  Stops were elected above the 6055.23 area during the recent ascent higher, an upside price objective related to buying pressure that emerged around the 5001.00 level.  Additional Stops were reached above the 6122.78, 6273.34, 6481.88, 6572.63, and 6707.42 levels during the move higher.  Above current market levels, traders are observing upside price objectives around the 7101.76, 7234.54, 7414.53, 7558.22, and 7761.66 levels.

Following some of the pair’s recent technical resistance around the 5985.00 area, traders were closely watching the 3792, 3274, 2634, and 1599 levels as downside targets. Last week’s significant depreciation involved some of the most acute downward price activity ever experienced by BTC/USD traders.  As traders decoupled from the risks associated with BTC/USD, a series of major Stops were elected below key price levels, and these price areas included the 7793, 7417, 7265, 6993, 6613, 6468, 6345, 5619, 5558, 5329, and 4509 levels.  Below current market activity, traders are closely watching levels including the 4342, 3688, 2882, and 2673 levelsStops are likely in place below these levels.

Price activity is nearest the 100-bar MA (4-hourly) at 7197.01 and the 50-bar MA (Hourly) at 5900.68.

Technical Support is expected around 4342.13/ 3688.61/ 2882.04 with Stops expected below.

Technical Resistance is expected around 7101.76/ 7234.54/ 7414.53 with Stops expected above.              

On 4-Hourly chart, SlowK is Bearishly below 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) depreciated early in today’s Asian session as the pair fell to the 136.58 area after trading as high as the 154.00 area during yesterday’s North American session.  Some Stops were elected above the 153.22 area during the move higher, an upside price objective related to upside buying pressure that emerged around the 90.00 area on 13 March.  Additional Stops were elected above the 131.28, 133.03, 138.30, 143.19, and 144.03 levels during the appreciation higher.  Above current market activity, upside price objectives are cited around the 156.77, 159.62, 168.14, and 172.55 levels

Some of these areas represented upside price objectives related to buying pressure that emerged around the 90.00 area on 13 March.  Notably, the 125.08 area represented an upside price retracement level that represents the 61.8% retracement of the move from 146.77 to 90.00.  Some upside price objectives related to buying pressure that emerged around the 90.00 area include the 130.67 and 133.40 levels.  The market has been supported around the 100.50 area for several trading sessions, and has been bid from around the 111.69 area since Wednesday’s North American session.  Upside price objectives include the 143.19, 144.03, and 153.22 levelsDownside price objectives include the 131.74, 126.48, and 117.98 areas.

Price activity is nearest the 50-bar MA (4-hourly) at 124.22 and the 50-bar MA (Hourly) at 129.83.

Technical Support is expected around 124.81/ 119.84/ 115.50 with Stops expected below.

Technical Resistance is expected around 153.22/ 156.77/ 159.62 with Stops expected above.

On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.

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

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