Ethereum / Breaking News / Bitcoin / Analytics
Bitcoin (BTC/USD) was generally weaker early in today’s Asian session as the pair traded as low as the 7957.55 area after trading as low as the 7098.86 area during yesterday’s European session. The pair depreciated sharply from the 8171.50 area during yesterday’s European session as BTC Bears finally found the conviction to push the pair below the 8130.75 area, representing the 61.8% retracement of the 7701.00 – 8826.00 range. BTC/USD continues to trade below its 50-bar MA (hourly), 100-bar MA (hourly), and 200-bar MA (hourly).
Stops were elected below the 7966.50 area during the pair’s move lower, representing the 76.4% retracement of the same range, and the pair then orbited this level during yesterday’s North American session. Stops were also triggered below the 100-bar MA (4-hourly) around the 8246.85 area yesterday. Chartists are observing that there does not appear to be too much buying pressure between current levels and the recent lows around the 7701 area that have been tested three times since 26 September.
Price activity is nearest the 100-bar MA (4-hourly) at 8,250.56 and the 50-bar MA (Hourly) at 8,153.62.
Technical Support is expected around 7,712.45/ 7,508.77/ 7,223.25 with Stops expected below.
Technical Resistance is expected around 8560.50 /9,071.00/ 9,651.00 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.
Ethereum (ETH/USD) was weaker early in today’s Asian sessios as the pair traded as low as the 173.46 area after trading as low as the 171.70 area during yesterday’s North American session,