Sally Ho’s Technical Analysis 11 September 2019

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Bitcoin

Bitcoin (BTC/USD) appreciated slightly early in today’s Asian session as the pair climbed to the 10297.12 area after finding a bid around the 9916.00 area during yesterday’s North American session, below the 9938.16 area that represents the 61.8% retracement of the move from 7508.77 to 13868.44.  The pair was steadily pressured lower from yesterday’s Asian session and Stops were elected below the 100-bar MA (4-hourly) late in yesterday’s European session.  Notably, the intraday high during today’s Asian session is right around the 61.8% retracement of the recent 10541.75 – 9318.00 range, an indication that technicals are impacting the short-term.

The 50-bar MA (4-hourly) crossed above the 200-bar MA (4-hourly), and this could be a Bullish indication that results in some upward price momentum in the short-term.  Chartists are continuing to observe the pair’s short-term movements around the 100-bar MA (4-hourly), currently indicating around the 10150.33 area.  Also, the pair continues to trade below the 50-bar MA (hourly), 100-bar MA (hourly), and 200-bar MA (hourly).  Below current market activity, the 9765.93 area represents the 38.2% retracement of the move from 3128.89 – 13868.44. Above current market activity, the 10688.61 area represents the 50% retracement of the 7508.77 – 13868.44 range.

Price activity is nearest the 100-bar MA (4-hourly) at 10,150.27 and the 50-bar MA (Hourly) at 10,258.58.

Technical Support is expected around 9,765.93/ 9,532.39/ 9,265.49 with Stops expected below.

Technical Resistance is expected around 10,833.14/ 11,136.82/ 11,759.72 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 Bearishly below MACDAverage.

 

Ethereum

Ethereum (ETH/USD) gained ground early in today’s Asian session as the pair appreciated to the 182.49 area after finding Bids around the 176.60 area during yesterday’s North American session.  Today’s intraday high is right around the 61.8% retracement of the recent 186.00 – 176.60 range, an indication that near-term price activity is being influenced by short-term technicals. Above this area, the 183.78 area represents the 76.4% retracement of the same range. 

The 50-bar MA (4-hourly) just crossed above the 100-bar MA (4-hourly), a bullish development, and the pair found some buying activity around both levels late in yesterday’s North American session. Above current market activity, the 200-bar MA (4-hourly) will provide additional technical Resistance. The pair escalated above the 50-bar MA (hourly) early in today’s Asian session and is also trading above the 100-bar MA (hourly) and the 200-bar MA (hourly). An important level that traders continue to monitor is the 183.33 area, representing the 23.6% retracement of the move from 515.88 to 80.60.  Chartists are observing likely selling pressure around the 188.36 – 190.40 range.

Price activity is nearest the 50-bar MA (4-hourly) at 177.57 and the 50-bar MA (Hourly) at 180.57.

Technical Support is expected around 172.88/ 167.80/ 165.25 with Stops expected below.

Technical Resistance is expected around 188.38/ 191.40/ 201.38 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.



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