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Sally Ho's Technical Analysis 11 March 2020 BTC ETH

Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair traded as high as the 8040.64 area after finding demand around the 7733.56 area during yesterday’s North American session.  The pair has recently traded as low as the 7630.00 area during Monday’s North American session.  Market sentiment has shifted acutely during the past several trading sessions as the market steadily moved lower from the 10030 area, encountered buying pressure around the 8428.80 area, recovered to the 9214.67 area, and then moved sharply to the 7630.00 area.  The abrupt changes in market direction have confused many traders and led to...

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Is Ethereum (ETH) Ready To Fall Below $200 Again? 

Ethereum (ETH) has been struggling to break past the 38.2% fib level but it failed numerous times. Now finally there seems to be a glimmer of hope and it has broken past that level but the bullish momentum is really weak. If ETH/USD faces a rejection here, we are looking at a major decline not only below $200 but down to the 61.8% fib level which would be around $164. This would be the beginning of a painful period for the altcoin market that could last for months if not years. The whole trend that saw altcoins begin to rally...

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Bitcoin Correction May Not Be Over Yet 

Bitcoin has found support on the 61.8% fib level around $7.7k. This is a level that we have been mentioning for the past three weeks and we expected BTC/USD to decline down to it. As it turned out, the price actually ended up declining slightly lower than that but it was successful in finding support above it. Now, the situation should normally have been bullish after this and we would be talking about a rally towards $9k from here, but that is not the case this time. Even though the price found support around $7.7k, it still looks extremely vulnerable...

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Bitcoin (BTC) Risks Further Decline Below $8k Even As Traders Become Very Fearful 

Bitcoin (BTC) declined below $8k as the oil market plunged hard. As the price approached the 61.8% fib level, it found a temporary support which we discussed in the previous analyses on BTC/USD. That being said, the bulls have failed to gather the momentum to push the price higher. It looks quite vulnerable and the fact that it has not tested the descending broadening wedge again means that it risks another decline in the near future below the 61.8% fib level. This would put the market under a lot of pressure once again. The sentiment is already negative and there...

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Sally Ho's Technical Analysis 10 March 2020 BTC ETH

Bitcoin (BTC/USD) climbed marginally early in today’s Asian session as the pair gained ground to the 7900.00 area after encountering some buying pressure around the 7630.00 area during yesterday’s North American session.  The most recent round of depreciation commenced during Saturday’s North American session when selling pressure pushed BTC/USD lower from the 9214.67 area, triggering a cascade of Stops along the way.  Stops were elected below the 8320.67 and 7793.31 areas during the move lower, downside price objectives related to selling pressure that began in earnest on 24 February around the 10030.00 area.   The pullback accelerated over the weekend when...

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