Ethereum / Breaking News / Bitcoin / Analytics
Bitcoin (BTC/USD) sought direction early in today’s Asian session as the pair traded as high as the 10258.00 area after trading as low as the 10167.14 area late in yesterday’s North American session. The pair’s range was relatively tight as traders were unable to lift the pair above its 100-bar MA (4-hourly) during yesterday’s European session or North American session. The pair continues to orbit its 50-bar MA (4-hourly), 100-bar MA (4-hourly), and 200-bar MA (4-hourly), all of which recently converged above the psychologically-important 10000 figure.
BTC/USD has also been unable to move above the 100-bar MA (hourly) for several trading sessions, and is now trading between the recently-converged 50-bar MA (hourly) and 200-bar MA (hourly). Market sentiment for the pair remains clouded with neither BTC/USD Bulls nor BTC/USD Bears showing any dominance. Above current market activity, the 10395 and 10523 areas will remain focal points for chartists while below current market activity, the 10068 and 9853 areas will continue to be watched closely.
Price activity is nearest the 50-bar MA (4-hourly) at 10,237.79 and the 50-bar MA (Hourly) at 10,229.29.
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 Bearishly below MACDAverage.
On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.
Ethereum (ETH/USD) continued to appreciate early in today’s Asian session as the pair traded as high as the 212.84 area following a move to the 215.00 figure late in yesterday’s North American session,