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Sally Ho's Technical Analysis 22 May 2019

Bitcoin Bitcoin (BTC/USD) found a little bit of buying interest early during today’s Asian session after trading as low as 7805.34 during yesterday’s European session and trading as high as the 8112.99 level during yesterday’s North American session. The pair remained above the 50-bar MA (4-hourly) during yesterday’s European session and continues to orbit the 50-bar MA (hourly), currently around 7930.15. The pair also continues to trade right around the 7966.03 level, representing the 76.4% retracement of the range from 8388.00 to 6600.00. Chartists continue to evaluate the pair’s upside potential and identify the 8139.25 area as an upside target,...

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Ripple (XRP) Risks A Fall Below 50 Week MA After Ichimoku Cloud Rejection

Ripple (XRP) has just faced strong rejection at a critical trend line resistance next to a bearish Ichimoku cloud that the price is extremely unlikely to break past at this point. As XRP/USD goes down, it will become easier to eventually break past this cloud. So far, the price has shown no signs of a bullish continuation. We are likely to see XRP/USD decline to the bottom of the descending triangle. This might result in a break below the triangle to the next key support just below $0.15. Ripple (XRP) has avoided most of the brutal downtrends of the ongoing...

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Why Ethereum (ETH) Is Primed For Its Deadliest Fall In Months

Ethereum (ETH) is primed for its deadliest fall in months as all key indicators point to extremely bearish outlook. The weekly chart for ETH/USD shows a strong bearish divergence on the RSI that confirms. The trend line resistance shown on the RSI has been rejected and the RSI is expected to fall further in the days and weeks ahead. Similarly, the price has faced a strong rejection near the Ichimoku cloud on the weekly chart and is now ready to fall towards the bottom of the ascending channel it is trading in. Interestingly, this ascending channel forms part of a...

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Bitcoin (BTC) Eyes A Fall To $7,000 After VanEck/SolidX ETF Decision Delay

Bitcoin (BTC) started to fall hours before the VanEck/SolidX ETF decision delay but soon after news of the delay broke, the price started to rally. A rejection may not have had the same effect but the response to a delay decision is also not what most expected it to be. The price of Bitcoin (BTC) has rallied aggressively the past few weeks on the assumption that the bear market is over and that new institutional products including ETFs are just around the corner. This narrative would have been really strengthened had this ETF been approved. However, strong price manipulation and...

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Sally Ho's Technical Analysis 21 May 2019

Bitcoin Bitcoin (BTC/USD) appreciated early in today’s Asian session with the pair lifted higher to the 8157.17 level and appearing poised to make a run at establishing a new multi-month high. The pair tested some technical Resistance around the 8139.25 level in yesterday’s North American session, representing the 76.4% retracement of the move from 8315.00 to 7580.31. Stops were elected above the 8138.25 area during the move higher. Bids also emerged at some important technical levels during yesterday’s European session and later in the North American session. Yesterday’s intraday low was just below the 23.6% retracement of the move from...

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