Sally Ho’s Technical Analysis 25 July 2019



Bitcoin

Bitcoin (BTC/USD) was pressured early in today’s Asian session as the pair moved to the 9,507.38 level before gaining a little bit of ground back.  The low of 9,507.38 was just below the 9,532.39 area that represents the 38.2% retracement of the move from 19,891.99 to 3,128.89.  During yesterday’s North American session, the pair gained some ground but stopped short of testing the 9,938.16 area. This follows the pair’s inability to move above the 10,234.22 area during yesterday’s Asian session.

That level represents the 50% retracement of the move from 6,600.00 to 13,868.44 and given the market’s current bearishness, traders are focusing on that range’s next downside level which is the 9,376.54 area, followed by the 8,315.35 area.  Price activity remains below the 50-bar MA (4-hourly), currently indicating around the 10,175.12 area.  Chartists are focusing on a couple of key levels below current market activity including the 9477, 9422, and the 9,376 areas.

Price activity is nearest the 50-bar MA (4-hourly) at 10,175.30 and the 200-bar MA (Hourly) at 10,176.61.

Technical Support is expected around 9,285.48/ 9,071.00/ 8,488.00 with Stops expected below.

Technical Resistance is expected around 10,268.07/ 10,508.20/ 10,958.60 with Stops expected above.

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.

On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

 

Ethereum

Ethereum (ETH/USD) moved higher early in today’s Asian session as the pair traded as high as the 226.22 area after decent buying activity emerged during yesterday’s North American session. The pair traded as low as the 202.24 area during yesterday’s European session, right around the 61.8% retracement of the move from 148.81 to 288.77.  Stops were elected above the 218.79 area during the move higher, representing the 50% retracement of the same range.

Additional buying demand emerged during yesterday’s North American session around the 206.18 area, representing the 76.4% retracement of the move from 157.28 to 364.49.  The next upside retracement level related to that range is the 236.43 area.  Technicians are closely watching technical Resistance above that area around the 228 – 229 area, followed by additional Offers around the 235 – 236 area. Above those levels, the 100-bar MA (4-hourly) is currently indicating around the 243.00 figure.

Price activity is nearest the 50-bar MA (4-hourly) at 217.53 and the 50-bar MA (Hourly) at 211.84.

Technical Support is expected around 201.38/ 191.40/ 183.33 with Stops expected below.

Technical Resistance is expected around 229.46/ 233.00/ 242.85 with Stops expected above.

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.



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