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Sally Ho's Technical Analysis 11 May 2019

Bitcoin Bitcoin (BTC/USD) established a new multi-month high during yesterday’s North American session, peaking at 6430.00 before some profit-taking ensued during today’s Asian session. As we have noted in recent analyses, there was not much technical Resistance between the psychologically-important 6000 figure and the 6393 area, above which significant Stops were elected. The market stopped just short of testing the 6440 area, representing the 61.8% retracement of the 8488.00 – 3128.89 range. Yesterday’s high is the pair’s strongest showing since 8 November 2018. Another major upside target for BTC/USD is 6538.51, representing the 50% retracement of the 9948.12 – 3128.89...

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Ripple (XRP): Here’s What It Would Take For The Bulls To Return

Ripple (XRP) is trading below a critical trend line support now and the price has already tested it as resistance. This coupled with the fact that XRP/USD is already trading within a descending triangle has raised some red flags. Ripple (XRP) is one of the few large cryptocurrencies that investors worry could take the whole market down with it. As BTC/USD nears a potential downtrend, investors are looking for a black swan event that could trigger the next sell-off. We have seen the recent Binance exchange hack do little to affect the enthusiasm of overly excited bulls. Maybe something like...

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Ethereum (ETH) Could Make A Run For $200 Before The Sell-Off Begins

Ethereum (ETH) has a strong bearish divergence on the daily chart but it would not be surprising to see this invalidated in light of recent market movements. The price is still likely to make a run for $200 short term. Traders have become overly optimistic once again as the price has found a trend line support that has provided the pedestal it needed to maintain its rally. So far, there is no sign of a loss of bullish momentum. The price could rally towards $200 and end up hitting the rising wedge. This will most likely be the final move...

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Bitcoin (BTC) Triggers Desperate Buying With Another Rally

Bitcoin (BTC) has once again got the bulls excited with another rally. The price is now trading above $6,300 is a parabolic manner. The daily chart for BTC/USD shows that the price has yet to break past a critical trend line resistance, but more important than that the horizontal resistance zone is extremely likely to push the price down anytime now. The price will have to fall below the rising wedge sooner or later and when that happens, the bears will take over fast. At the moment, it appears that the bulls are in charge and the price could just...

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Sally Ho's Technical Analysis 10 May 2019

Bitcoin Bitcoin (BTC/USD) finally eclipsed the psychologically-important 6000.00 barrier in recent trading sessions and rocketed higher to the 6171.10 level early in today’s Asian session, its strongest level since mid-November 2018. After breaking above the 6000.00 figure, the pair traded as high as the 6098.21 area before consolidating some gains to the 5960.00 level and then again moving higher to establish fresh multi-month highs. Chartists note that there does not appear to be too much technical Resistance between current price levels and the 6393 area.  Technicians are waiting to see how the pair will react during pullbacks with the 6015/...

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