Ethereum / Breaking News / Bitcoin / Analytics
Bitcoin (BTC/USD) was a little stronger early in today’s Asian session as the pair traded as high as the 8081.69 area after trading as low as the 7937.01 level during yesterday’s European session. During the pair’s ascent yesterday, BTC Bulls pushed the pair as high as the 8124.42 area, just below the 8130.75 area that represents the 61.8% retracement of the 7701.00 – 8826.00 range. Before testing that level, some buying demand emerged around the 8015.13 area, representing the 23.6% retracement of the 8995.00 – 7712.45 range.
After testing this level, some buying interest emerged around and below the 8055.91 area. The pair has climbed back from intraweek lows around the 7908.86 area and chartists are eager to observe price activity around the 8130.75 area, above which Stops are likely in place. BTC/USD continues to trade below the 50-bar MA (4-hourly), 100-bar MA (4-hourly), and 200-bar MA (4-hourly) and is now trading between the 50-bar MA (hourly) and 100-bar MA (hourly). Above current market activity, the 8203 area is an area where many traders anticipate some selling pressure.
Price activity is nearest the 100-bar MA (4-hourly) at 8,232.75 and the 50-bar MA (Hourly) at 8,050.68.
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 Bullishly above MACDAverage.
On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.
Ethereum (ETH/USD) was slightly weaker early in today’s Asian session as the pair depreciated to the 176.53 area after trading as high as the 179.71 area during yesterday’s European session.