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Sally Ho's Technical Analysis 7 August 2019

Bitcoin Bitcoin (BTC/USD) lost some ground early in today’s Asian session as the pair depreciated to the 11,187.00 area after escalating higher to the 12,320.40 area during yesterday’s European session.  Significant Stops were elected during the pair’s ascent above the 11,950.79 area during yesterday’s Asian session, a level that was a downside price objective related to the pair’s decline from the 13,202.63 area on 10 July. The significance of the 11,950 area was reaffirmed early in today’s Asian session when Bids emerged right around the 11,175 area, the next downside price objective related to the depreciation from 13,202.63. Market sentiment...

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Ethereum (ETH) Eyes Further Downside As Price Faces Rejection At 50 Day EMA

Ethereum (ETH) closed the week below the 21 Week EMA but that did not stop it from temporarily misleading the market into thinking that it still has some juice for further upside. So, yesterday, the price rallied hard but it ended up closing below the 50 day EMA. Today, we saw another rally to the 50 day EMA which met the same fate. The trend line support turned resistance also served as a strong resistance and this confluence of resistance zones points to further downside for ETH/USD in the days and weeks ahead. If we take a look at the...

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Bitcoin (BTC) Expected To Crash Hard Before The End Of The Week

Bitcoin (BTC) is on the verge of its deadliest downtrend since the beginning of the year. We expect the price to crash hard before the end of the week. The leading factor that leads us to believe that this crash is going to occur before the end of the week is the fib circles on the daily chart for BTC/USD. We have seen the price run into the 38.2% fib extension level from the beginning of the parabolic uptrend. The price shot up past that level to shake out bears with tight stops. Now it has retraced below that level...

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When Is Bitcoin (BTC) Going Down?

The most important event of 2019 which was the Litecoin (LTC) halving has finally happened. If we take a look at the daily chart for LTC/USD, we can see that it did not shoot up towards a new all-time high as the majority expected it to. In fact, the price retraced quite sharply and ended up closing not just below the 50 day EMA but the 21 day EMA. This goes on to show us what expectations mean compared to reality. The price has declined below $100 and is now eyeing further downside as the market gets closer to the...

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Sally Ho's Technical Analysis 6 August 2019

Bitcoin Bitcoin (BTC/USD) continued its surge early in today’s Asian session as the pair moved back to the 11,821.77 area following a pullback from the 11,950.00 level late in yesterday’s North American session. Yesterday’s high represents the pair’s strongest print since 12 July and was just below a technical level that represents the 38.2% retracement of the move from 8,919.72 to 13,868.44.  That range’s next upside price objective is the 12,700.54 area. Strong demand emerged during yesterday’s Asian session when the pair sharply climbed from 10,770 to 11,661. BTC/USD is now trading above its 50-bar MA (4-hourly), 100-bar MA (4-hourly),...

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