Ethereum / Breaking News / Bitcoin / Analytics
Bitcoin (BTC/USD) gained marginal ground early in today’s Asian session as the pair climbed to the 10199.77 area and traded as low as the 9926.49 area during yesterday’s North American session, just below the 61.8% retracement of the 7508.77 – 13868.44 range. BTC/USD was generally weaker yesterday and traded below the 100-bar MA (4-hourly) during most of yesterday’s Asian and European sessions. Notably, the intraday high through the early part of today’s Asian session was right around the 50% retracement of the recent 10451.75 – 9851.97 range.
BTC/USD climbed back above the 50-bar MA (hourly) and must now contend with the 100-bar MA (hourly) and 200-bar MA (hourly), in addition to the 100-bar MA (4-hourly) and 200-bar MA (4-hourly). The pair lacks a definite market bias and has mixed sentiment as it continues to orbit the psychologically-important 10000 figure. Below current market levels, traders are observing technical Support around areas including 9765, 9651, and 9532. Above current market levels, traders are observing technical Resistance around areas including 10395, 10523, and 10682. The 10647.72 is an upside price objective that represents the 50% retracement of the 7427.00 – 13868.44 range.
Price activity is nearest the 100-bar MA (4-hourly) at 10,141.37 and the 50-bar MA (Hourly) at 10,140.03.
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 Bullishly above MACDAverage.
On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.
Ethereum (ETH/USD) appreciated early in today’s Asian session as the pair climbed to the 178.92 area and encountered buying pressure around the 173.70 area during yesterday’s North American session,