Ethereum / Breaking News / Bitcoin / Analytics
Bitcoin (BTC/USD) failed to sustain some short-lived gains early in today’s Asian session as the pair fell back to the 9583.88 area after trading as high as the 9998.00 level during yesterday’s North American session. Traders were unable to push the pair back above the psychologically-important 10,000.00 figure, again calling into question the market’s short-term bias. During yesterday’s European session, BTC/USD traded as low as the 9,071.00 area as the pair managed to remain above the 9,009.65 area, representing the 76.4% retracement of the move from 7,508.77 to 13,868.44.
Chartists are anticipating some Stops that are likely to be in place below the 8919.72 area, a level that was technically relevant on 18 June. Below this level, the 8488 area is another important level that will be watched as it represents a relative historical high. Technicians are now eyeing some downside price extension objectives that include the 9323, 9146, and 8694 areas. If those levels give way, the 7945, 7629, and 6312 levels will be in play with some BTC/USD bears also focused on the 4184 area.
Price activity is nearest the 200-bar MA (4-hourly) at 10,851.63 and the 50-bar MA (Hourly) at 9,973.31.
Technical Support is expected around 9,009.65/ 8,488.00/ 8203.91 with Stops expected below.
Technical Resistance is expected around 10,367.06/ 10,646.32/ 11,510.44 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 Bearishly below SlowD while MACD is Bullishly above MACDAverage.
Ethereum (ETH/USD) weakened early in today’s Asian session, dropping to the 206.68 area after running out of steam around the 221.00 level during yesterday’s North American session.