Ethereum / Breaking News / Bitcoin / Analytics
Bitcoin (BTC/USD) added to its recent positive sentiment early in today’s Asian session as traders continued to battle with some important technical levels that will define the market’s short-term bias. Notably, market activity continues to make strides above the psychologically-important 10,000 figure as traders continue to push towards the 11,000 figure. The market’s recent bounces above key levels including the 9,765/ 9,938/ 10,268/ 10,646 areas have been supportive of price activity over recent trading sessions.
Traders have been attempting to establish a foothold above the 50-bar MA (4-hourly) for several sessions, and traders are attempting to test the 100-bar MA (4-hourly). In order to advance higher, traders will need to establish some Bids above the 100-bar MA (4-hourly). Also, traders have been attempting to gain traction above the 200-bar MA (hourly), and it appears the 50-bar MA (hourly) and 200-bar MA (hourly) are converging. Upside price targets include the 11,032 and 11,175 levels.
Price activity is nearest the 100-bar MA (4-hourly) at 11,053.42 and the 200-bar MA (Hourly) at 10,575.83.
Technical Support is expected around 9,765.93/ 9,265.49/ 8,919.72 with Stops expected below.
Technical Resistance is expected around 11,136.82/ 11,333.91/ 11,510.44 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 Bearishly below MACDAverage.
Ethereum (ETH/USD) reclaimed the psychologically-important 200.00 figure recently and traders attempted to add to gains early in today’s Asian session, a couple of days after traders absorbed that level for the first time since 14 August. Traders have been attempting to establish buying pressure above the 50-bar MA (4-hourly),