Hot Topics

Advertisement

Advertisement

Sally Ho's Technical Analysis 24 December 2019 BTC ETH

Bitcoin Bitcoin (BTC/USD) attempted to add to recent upside trading gains early in today’s Asian session as traders continued to speculate how long the pair would remain above the psychologically-important 7,000 figure.  During Sunday’s European session, the pair was pushed higher from the 7125.00 area and traded as high as the 7688.99 level during yesterday’s North American session before giving back some gains.  The move higher over the past couple of days was the first time the pair tested the 7568.81 level since 9 December, an area that represents the 23.6% retracement of the move from 10944.67 to 6526.00.  Some...

Read More

Ethereum (ETH) Caught Between Rock And A Hard Place Once Again

Ethereum (ETH) keeps finding itself in tricky situations. It depends on Bitcoin (BTC) for a decisive breakout to either side but the fact that it has now become range bound once again after a strong move to the upside means that traders will be all confused again as to the direction ETH/USD is going to head next. So far, the price remains below $134.95 and above $126.90. Ethereum (ETH) could continue to trade in this range for a long time. That means that it does not have to make a decision any time soon. A breakout from this range whether...

Read More

Could Bitcoin (BTC) Keep Rallying Higher?

Bitcoin (BTC) has once again made an impressive move to the upside and is currently trading above $7,500 after breaking the key resistance level of $7,200. The bulls are now expecting the price to rally higher but the outlook still remains bearish. In order for things to change near-term, we would need to see BTC/USD make a higher high and a higher low to invalidate the current downtrend that is still intact. If the price ends up doing that, we would have reason to be bullish not just till $8,000 but even beyond that to $9k or higher. However, it...

Read More

Bitcoin (BTC) Just Broke A Key Resistance, What Happens Next?

Bitcoin (BTC) has once again broken past a key resistance level raising hopes and paving the way for a potential rally towards $8,000 now that it has broken past $7,200. The price kept testing that level for a long while until it broke past it. The prolonged sideways movement was soon followed by an aggressive pump to the upside and BTC/USD managed to rise towards $7,634. There was some resistance at the $7,459 level but it couldn’t stop the price from shooting higher. At this point, traders are eyeing further upside and for good reason because the major hurdle in...

Read More

Sally Ho's Technical Analysis 23 December 2019 BTC ETH

Bitcoin Bitcoin (BTC/USD) extended its recent rangebound trading behaviour early in today’s Asian session as the pair continued to remain between some important technical trading levels.  Traders have kept the pair confined to a relatively tight range for several trading sessions with traders generally keeping BTC/USD between the 50-bar MA (4-hourly) and 100-bar MA (4-hourly).  This lack of a clear market sentiment has traders hesitant to adopt fresh trading biases, and this is reflected in the pair’s continued sideways trading patterns. One level that traders are watching is the 7296.44 area, a previous technical Support level that has recently become...

Read More