Ethereum / Breaking News / Bitcoin / Analytics
Bitcoin (BTC/USD) was mostly sideways early in today’s Asian session after the pair fell and traded as low as the 8085.65 area during yesterday’s North American session. The pair peaked around the 8420.00 level during yesterday’s Asian session and then retreated to the 8240.00 level during yesterday’s North American session, right around the 100-bar MA (4-hourly). Chartists observed a convergence of the 50-bar MA (hourly), 100-bar MA (hourly), and 200-bar MA (hourly), an indication that market bias remains unclear.
Technical Bids recently emerged to protect the 8130.75 area, representing the 61.8% retracement of the move from 7701.00 to 8826.00, and traders are also curious to see if Bids will emerge again around the 8211.02 area. Below that area, the 7966.50 area represents the 76.4% retracement of the same range. If selling pressure intensifies, traders will pay attention to price activity if and when it approaches the 7701.00 level, an area BTC/USD has bounced higher from three times since 26 September. Below that area, the 7344.90 level represents the 61.8% retracement of the move from 9949.85 to 3130.62, and the 7235.95 area represents the 61.8% retracement of the 3136.25 – 13868.44 range.
Price activity is nearest the 100-bar MA (4-hourly) at 8,248.17 and the 50-bar MA (Hourly) at 8,280.94.
Technical Support is expected around 7,712.45/ 7,508.77/ 7,223.25 with Stops expected below.
Technical Resistance is expected around 9,071.00/ 9,651.00/ 9938.16 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 Bullishly above SlowD while MACD is Bearishly below MACDAverage.
Ethereum (ETH/USD) gained marginal ground early in today’s Asian session after the pair was lifted higher from the 176.48 area during yesterday’s North American session.