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Sally Ho's Technical Analysis 16 December 2019 BTC ETH

Bitcoin Bitcoin (BTC/USD) weakened early in today’s Asian session as the pair traded as low as the 7052.66 area following a steady decline from the 7220.01 area during Sunday’s European session.  Bearish sentiment intensified over the weekend as renewed selling pressure emerged and pushed the pair below some technical Support levels.  Bids around the 7223.25 level ceded ground to BTC/USD Bears again, knocking the pair lower to just above the psychologically-important 7000 figure.  During the push lower, selling pressure also became elevated after Stops were elected below the 7084.98 area, representing the 23.6% retracement of the move from 19891.99 to...

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Can Ethereum (ETH) Still Rally Towards $147.65 Despite Recent Bearishness?

Ethereum (ETH) declined sharply down to the 61.8% fib level but it ended up falling much further. Just when everyone expected it to decline further a few hidden buy orders worth millions of dollars saved the market again and we saw ETH/USD bounce strongly following the lead of Bitcoin (BTC). We now have a situation where the price is trading within a symmetrical triangle, it has tested the bottom of it and we now have to wait and see what happens next. The most probable scenario is that we might see the price rally higher to test the top of...

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Sally Ho's Technical Analysis 15 December 2019 BTC ETH

Bitcoin Bitcoin (BTC/USD) weakened early in today’s Asian session as the pair fell to the 7006.01 area after trading as high as the 7264.33 level during yesterday’s European session.  Traders are awaiting the next major cues from market developments to adjust their market biases.  The market has recently traded around the 7084.98 area, a very important technical area that represents the 23.6% retracement of the move from 19891.99 to 3128.89.  Traders were able to elect Stops below this level during yesterday’s North American session and the pair moved to the 7008.03 area in short order.  Stops were also hit below...

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Bitcoin (BTC) Risks Massive Further Downside Below $7,200

Bitcoin (BTC) has plunged below $7,200 again and is now once again at verge of massive further downside. The 4H chart for BTC/USD shows that the price has remained rangebound for a long time between the $7,197.5 and the $7,162.75 levels. The latter which also corresponds to the 50% fib level has now been breached for the first time in two days which tells us that something decisive might be around the corner. The price of Bitcoin (BTC) may be above to decline down to the 61.8% fib level which would be around $7,000. The price is very unlikely to...

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Sally Ho's Technical Analysis 14 December 2019 BTC ETH

Bitcoin Bitcoin (BTC/USD) weakened early in today’s Asian session as the pair fell to the 7220.95 area after trading as high as the 7299.21 level during in yesterday’s North American session.  The pair has steadily appreciated from the 7075.01 area during Thursday’s Asian session before encountering selling pressure yesterday.  Chartists note that the 100-bar MA (4-hourly) has recently Bearishly crossed above the 50-bar MA (4-hourly), a technical development that may coincide with some market weakness in the short-term.  Likewise, the 200-bar MA (hourly) just Bearishly crossed above the 100-bar MA (hourly), another technical development that may be reflected in additional...

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