Ethereum / Breaking News / Bitcoin / Analytics
Bitcoin (BTC/USD) traded mostly sideways early in today’s Asian session as the pair moved to the 8195.11 level after spiking to the 8349.84 area during yesterday’s North American session. Some minor Stops were elected above the 8338.78 level during yesterday’s rapid climb, representing the 76.4% retracement of the 9948.12 – 3128.89 range. The pair twice tested the 8280.46 area during yesterday’s Asian session and yesterday’s North American session, a level that represents the 61.8% retracement of the move from 7850.71 – 8975.71 range. Chartists are noting that the 50-bar MA (hourly) crossed above the 100-bar MA (hourly) and 200-bar MA (hourly), a bullish development.
Traders are also observing price activity around the 8200.63 level, an area where technical Support has emerged a few times over the past few trading sessions and that also represents the 38.2% retracement of the 8826.00 – 7814.08 range. One of the pair’s biggest challenges on the upside will likely be the 8341.89 level, representing the 23.6% retracement of the 10379.15 – 7712.45 range. Likewise, the 8474.00 area represents the 23.6% retracement of the 10939.34 – 7712.45 range.
Price activity is nearest the 100-bar MA (4-hourly) at 8,190.97 and the 50-bar MA (Hourly) at 8,122.28.
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 Bearishly below SlowD while MACD is Bullishly above MACDAverage.
On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.
Ethereum (ETH/USD) was a little weaker early in today’s Asian session as the pair moved to the 173.65 area after earlier trading as low as the 171.45 area during yesterday’s North American session following a spike higher to the 178.00 figure.