Ethereum / Breaking News / Bitcoin / Analytics
Bitcoin (BTC/USD) was weaker early in today’s Asian session as the pair traded as low as the 10131.82 area after trading as high as the 10224.12 area during yesterday’s North American session. During that session, traders experienced some interesting short-term volatility when the price quickly fell to the 10073.90 area before quickly climbing back to the aforementioned 10224.12 area. The markets reacted by putting on technical positions that saw Bids twice emerge ahead of the 10131.40 area, representing the 61.8% retracement of the range.
Market sentiment remains mixed for BTC/USD as the pair continues to trade below its 50-bar MA (4-hourly), 100-bar MA (4-hourly), and 200-bar MA (4-hourly). Some additional technical bearishness was seen yesterday when the pair was capped for several hours by the 50-bar MA (hourly), which was also then around the 10207 area, representing the 38.2% retracement of the 10433.49 – 10068.42 area. On the other hand, the pair has been able to remain Bid above some important technical levels including the 9532.39 area, representing the 38.2% retracement of the 19891.99 – 3128.89 range.
Price activity is nearest the 200-bar MA (4-hourly) at 10,213.68 and the 50-bar MA (Hourly) at 10,201.58.
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 Bearishly below SlowD while MACD is Bearishly below MACDAverage.
On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.
Ethereum (ETH/USD) depreciated early in today’s Asian session as the pair fell to the 206.88 area after encountering selling pressure around the 217.49 area during yesterday’s European session,