Ethereum / Breaking News / Bitcoin / Analytics
Bitcoin (BTC/USD) rallied higher early in today’s Asian session as the pair traded as high as the 10379.98 area after Bids emerged around the 10271.70 area late in yesterday’s North American session. The pair had a volatile weekend that saw it climb higher from the 10233 area on Saturday, consolidate gains, and then finds Bids late yesterday around the 38.2% retracement of the 10939.34 – 9851.97 range. Some Stops were elected above the 10371.72 area early in today’s Asian session, representing the 61.8% retracement of the 10433.49 – 10271.78 range.
If BTC/USD’s upward momentum can continue, traders will need to challenge the 10395 area, an important technical level related to the aforementioned range and also a recent range with the 10939 area as a relative high. Chartists are observing the pair’s recent movements above the 50-bar MA (4-hourly) and movements above the 50-bar MA (hourly). Above current market activity, the 10541, 10682, and 10820 areas are upside price objective targets.
Price activity is nearest the 50-bar MA (4-hourly) at 10,292.47 and the 50-bar MA (Hourly) at 10,314.76.
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 Bullishly above SlowD while MACD is Bullishly above MACDAverage.
Ethereum (ETH/USD) exploded higher early in today’s Asian session as the pair traded as high as the 195.75 area, a continuation of the steady buying pressure that commenced on Friday when Bids emerged around the 177.57 area around the 50-bar MA (4-hourly).