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10316 Next for BTC/USD?: Sally Ho's Technical Analysis 8 May 2020 - BTC

10316 Next for BTC/USD?: Sally Ho's Technical Analysis 8 May 2020 - BTC

Bitcoin (BTC/USD) extended its recent push towards the 10000 figure in today’s Asian session as traders elected Stops above the 9575.05 and 9753.86 levels during yesterday’s North American session, upside price objectives related to buying activity that originated around the 3858.00 level in March.  Some minor Stops were elected below the 9080.39 area during the pullback in yesterday’s Asian session, a downside price objective that represents the 38.2% retracement of the recent appreciation from 8533.98 to 9418.00Bullish market indications emerged thereafter as traders were able to keep BTC/USD bid above the 9225.75 area, a level that represents the 76.4% retracement of the recent depreciation from 9478.66 to 8407.00.  Similarly, these bids were above the 9214.67 level, an important downside price objective related to selling pressure that emerged around the 10522.51 area in February, and this was also a bullish indication

Large Stops were elected last week above several important levels including the 9362.24, 9214.67, 9082.20, 8763.40, 8405.58, 8162.36, 7832.92, and 7751.67 areas, and traders will closely monitor these levels when they are tested again. If BTC/USD is able to resume its upward trajectory, traders will closely monitor additional upside price objectives around the 9753.86 and 9982.41 levels.  When BTC/USD pulls back from current price activity, traders will pay close attention to some additional areas of potential technical support, including the 8324.00, 7967.33, 7610.66, 7423.22, and 7169.35 levels.  Chartists are observing that the 50-bar MA (4-hourly) continues to indicate above the 100-bar MA (4-hourly) and 200-bar MA (4-hourly).  Also, the 50-bar MA (hourly) bullishly moved above the 100-bar MA (hourly), and continues to indicate above the 200-bar MA (hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 8959.02 and the 50-bar MA (Hourly) at 9206.01.

Technical Support is expected around 9362.24/ 9082.20/ 8324.00 with Stops expected below.

Technical Resistance is expected around 10316.39/ 10661.23/ 11341.05 with Stops expected above.  

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

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

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BTC/USD Facing Challenge at 17850: Sally Ho's Technical Analysis 28 November 2020 BTC

BTC/USD Facing Challenge at 17850: Sally Ho's Technical Analysis 28 November 2020 BTC

Bitcoin (BTC/USD) glided higher early in today’s North American session as the pair appreciated to the 17444.88 area trading as low as the 16880 area in the European session, with the intraday high representing a test of the 100-bar 4-hourly simple moving average.  Traders are carefully monitoring how BTC/USD will trade around important historical upside price objectives that were absorbed during the pair’s recent climb near its all-time high, including the 17657.16, 17891.76, 18256.14, and 18946.91 areas.  The pair stopped short of testing the 15808.49 area during the recent move lower, representing the 23.6% retracement of the wide appreciating range and absolute 2020 range from 3858 to 19500.  Significant Stops were elected during the decline including below the 18605.14, 18275.16, 18016.74, 17604.12, 17517.42, 17156.69, 17099.13, 16905.00, 16603.10, 16357.50, and 16292.58 levels.  If the pair is able to resume its upward trajectory and establish a new all-time high, traders are carefully monitoring the 20311.36 and 21909.24 areas as upside price objectives.  Similarly, the 20534.46 area is an upside price objective related to buying demand that originated earlier this year around the 6854.67 area. 

Traders will pay close attention to some potential areas of technical support during pullbacks lower and these include the 16092.69 and 15935.90 areas.  Notably, the 15935.90 and 16304.69 areas represent the 76.4% and 78.6% retracements of a historical depreciation from 19891.99 to 3128.89.  Further below current market activity, traders are paying close attention to additional potential areas of technical support during pullbacks and these include the 14273.50, 14259.01, 14101.50, 13989.55, 13892.29, 13705.50, 13663.43, and 13594.42 levels. Chartists are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly).   Also, the 50-bar MA (hourly) is bearishly indicating below the 100-bar MA (hourly) and below the 200-bar MA (hourly).

Price activity is nearest the 100-bar MA (4-hourly) at 17450.09 and the 50-bar MA (Hourly) at 17224.83.

Technical Support is expected around 16200/ 15996.17/ 15479.66 with Stops expected below.

Technical Resistance is expected around 19500/ 20311.36/ 21909.24 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 Bullishly above SlowD while MACD is Bullishly above MACDAverage.

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SoftBank CEO believes bitcoin will be useful in the future but “not any time soon“

SoftBank CEO believes bitcoin will be useful in the future but “not any time soon“

Quick take

1 minute read

  • Crypto adoption is on the rise recently since the leading cryptocurrency of bitcoin has been doing the rounds when it comes to bullish momentum. 
  • But not everyone yet understands fully what bitcoin is or how it works. 

Crypto adoption is on the rise recently since the leading cryptocurrency of bitcoin has been doing the rounds when it comes to bullish momentum. But not everyone yet understands fully what bitcoin is or how it works. 

There are numerous videos and articles out there that explain it but some people will leave those articles and videos more confused than when they started!

This is a sentiment that is being shown in numerous institutional investors such as Masayoshi Son, who is the billionaire technology entrepreneur and the Chief Executive Officer of SoftBank, a conglomerate institution based in Japan. He has said that he doesn’t “understand“ bitcoin as it rises significantly in its value.

Son has said that bitcoin investment is seemingly pulling his attention away from his actual own business according to a report from business insider last week on the 19th of November.

He added that he would spend five minutes every day watching the price of bitcoin go up and down highlighting that he was told by a friend to invest 1% of his personal assets into the coin. Quick maths shows that this is around $200 million.

When discussing the future of digital currency, the CEO said that digital currencies will be useful in the future and are great for development but it will take time and they won’t go anywhere any time soon.

“I think digital currency will be useful [...] But I don't know what digital currency, what structure, and so on.”

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes

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ETH/USD Continues Recovery After Holding 503.57 Level: Sally Ho's Technical Analysis 28 November 2020 ETH

ETH/USD Continues Recovery After Holding 503.57 Level:  Sally Ho's Technical Analysis 28 November 2020 ETH

Ethereum (ETH/USD) extended its recent recovery in today’s North American session as the pair appreciated to the 529.90 area after trading as low as the 505.01 area in the European session, a test of the 100-bar 4-hourly simple moving average.  Traders lifted ETH/USD back above the 50-hour simple moving average during the North American session.  Some short-term upside retracement levels that traders are monitoring relate to the recent depreciating range from 623.22 to 480.08, and these include the 534.76, 551.65, 568.54, 589.44, and 592.59 levels.  The recent pullback was a test of the 479.03 area, representing the 78.6% retracement of the appreciating range from 439.77 to 623.22.  One level that traders are carefully monitoring is the 503.57 area, a level that represents the 38.2% retracement of the recent appreciating range from 310.00 to 623.22Stops were recently elected below a series of retracement levels including 579.73, 563.58, 553.14, 531.50, 526.88, 509.85, 496.86, and 483.06. Larger Stops were elected below the 550.01 and 504.72 areas, retracement levels related to the wider appreciating range from 313.00 to 623.22.  On the upside, Stops were recently elected above the 615.19 area during the climb higher, an upside price objective related to buying activity that originated around the 142.10 level earlier this year.  The pair’s next upside price objectives include the 637.79, 668.87, 679.78, and 698.88 levels.   Traders are also paying close attention to technical resistance around the 627.83, 638.28, and 652.36 areas. 

Stops were recently elected above the 583.59 and 592.24 areas during the ascent, retracement levels related to selling pressure that commenced around the 894.50 and 1419.96 levelsStops were also recently elected above the 519.16, 521.13, 524.97, and 540.64 areas during the ascent higher, preceded by Stops triggered above the 503.54, 508.69, and 510.22 levels.  During pullbacks lower, traders are paying close attention to the pair’s trading activity around the 461.31 area, an upside price objective related to buying pressure that emerged months ago around the 125.52 area.   Some additional downside retracement levels include 432.71, 431.36, 427.78, 424.14, 422.81, 419.74, 415.20, 411.91, and 408.12. Additional areas of potential downside support include the 400.56, 395.87, 387.62, 380.03, 377.17, 367.24, 366.72, 354.44, and 353.78 areas.  Traders are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly).  Also, the 50-bar MA (hourly) is bearishly indicating below the 100-bar MA (hourly) and below the 200-bar MA (hourly).

Price activity is nearest the 100-bar MA (4-hourly) at 507.28 and the 50-bar MA (Hourly) at 519.49.

Technical Support is expected around 417.60/ 388.49/ 366.72 with Stops expected below.

Technical Resistance is expected around 627.83/ 637.79/ 668.87 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 Bullishly above SlowD while MACD is Bullishly above MACDAverage.

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As it grows, how much ground will XRP cover next year?

As it grows, how much ground will XRP cover next year?

Quick take

1 minute read

  • Is 2021 XRP’s year?
  • How adoption will result in the success of the token.

Timothy Peterson, the well-known advocate for bitcoin and manager of global macro, believes that the San Francisco-based XRP token will have its best year in 2021 since 2017. 

As previously reported earlier this week, Peterson has recently said:

“I know it doesn’t look like much but this is $XRP lowest price forward. I think people will be surprised at $Ripple’s performance in 2021. It will probably have its best year since 2017 and maybe outperform #Bitcoin.”

As many people will already be aware, the success for ripple and its token will all depend on adoption by financial institutions. They have developed numerous new products such as rippleX in order to help facilitate a seamless transaction on the decentralised ecosystem for the network. But for the tokens targeted market, only 2% of financial institutions are actually willing to use it.

The Chief Technical Officer of Ripple, David Schwartz has previously said that there are numerous obstacles that prevent adoption for the token some of which include problems with regulation. That being said, well-known traders and investors at Galaxy trading have said that the asset is proven to be resilient.

“Although it is perhaps one of the most disliked projects, it has more than once shown its aggressive nature at a time when no one is expecting it.”

They see that the coin is capable of sparking by 10 times its current price as they say:

“We believe that this moment is very close and since catching the exact bottom is something very unpredictable, our advice to all who want to invest is to start buying at these “golden” levels of support where 10X can become a reality.”

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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