Ethereum / Breaking News / Bitcoin / Analytics
Bitcoin (BTC/USD) edged lower early in today’s Asian session as the pair traded as low as the 10,842.01 area following steady selling pressure in yesterday’s European and North American sessions. Traders were unable to punch BTC/USD above the 11,978.03 area during yesterday’s Asian session, an important technical level that represents the 38.2% retracement of the move from 8919.72 to 13,868.44. The next upside retracement level related to this range is the 12,700.54 area and the next downside retracement level related to this range is the 11,394.08 level followed by the 10,810.13 area.
Traders lifted BTC/USD before it tested the 10,810.13 area early in the Asian session, and chartists are citing the 10,646.32 area as the next downside target. The 200-bar MA (4-hourly) is creeping higher and is currently indicating at 10,500.67. During yesterday’s North American session, selling pressure emerged around the 100-bar MA (4-hourly). Given the ongoing convergence of the 100-bar MA (4-hourly) and the 200-bar MA (4-hourly), technicians are looking to see if bullish sentiment or bearish sentiment will prevail. Chartists anticipate some Bids between the 10,080 – 10,230 range.
Price activity is nearest the 200-bar MA (4-hourly) at 10,580.34 and the 50-bar MA (Hourly) at 11,503.69.
Technical Support is expected around 10,234.22/ 10,087.62/ 9,948.12 with Stops expected below.
Technical Resistance is expected around 11,510.44/ 11,759.02/ 12,063.68 with Stops expected above.
On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.
On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.
Ethereum (ETH/USD) slumped early in today’s Asian session as the pair traded as low as the 262.61 area after selling pressure emerged during yesterday’s Asian session and consistently pressured the price lower during yesterday’s European and North American sessions.