cryptodaily.co.uk: Sally Ho's Technical Analysis 13th March 2019

  • Wednesday, 13 March 2019 09:20
Bitcoin (BTC/USD) found a Bid during yesterday’s North American session as Buyers pushed the pair to the 3875.33 level, just below the 23.6% retracement of the appreciation from 3655.00 to 3947.33. Bulls pushed BTC higher early in today’s Asian session, electing Stops above the 100-bar MA (4-hour) and 50-bar MA (4-hour) with some Bids supporting the pair above the latter (3853.97) in early Asian dealing. Technical Support is expected around 3763.33/ 3684.13/ 3620.14 with Stops expected below. Technical Resistance is expected around 3977.30/ 3987.97/ 3997.63/ 4026.62/ 4062.82 with Stops expected above. Upside price objectives remain around the 4163/ 4358/ 4673 levels. On 240-minute chart, SlowK has remained above SlowD since 11 March though the two may be Bearishly converging while MACDAverage has Bearishly remained above MACD since 10 March with convergence seen over the past day. On 60-minute chart, Price activity tested the 100-bar MA (3876.23) during yesterday’s North American session before coming off with minor Stops elected below the 200-bar MA (3844.75). SlowD Bearishly remains above SlowK while MACDAverage remains above MACD. ETH/USD (Ethereum/ US dollar) Ethereum (ETH/USD) recovered from the selloff during yesterday’s European session when the pair tested Support around the 127.19 level after Stops were elected below the 131.10 level, the 200-bar MA (4-hour). During yesterday’s North American session, traders pushed the pair as High as 134.30 after Stops were elected above the 50-bar MA (133.63) before retreating into a narrow range early in today’s Asian session. Bids are expected around the 126.82 level, representing the 76.4% retracement of the 122.75 (4 Mar) – 140.00 (6 March) range. Technical Support is expected around the 125.16/ 123.25/ 121.76 levels with Stops expected below. Technical Resistance is expected around the 137.62/139.13/ 140.61 levels with Stops expected above. Downside price objectives remain around the 119.57 level. On 240-minute chart, the 50-bar and 100-bar MA are around 134.33 and 134.15 levels. SlowD and SlowK are yielding no real direction while MACD Bullishly crossed above MACDAverage. On 60-minute chart, Price activity has been orbiting the 50-bar MA (132.01) and remains below the 100-bar MA and 200-bar MA. SlowK remains above SlowD while MACDAverage is above MACD. LTC/USD (Litecoin/ US dollar) Litecoin (LTC/USD) found technical Bids early in the European trading session yesterday as demand emerged around the 52.15 level, just above the key 23.6% retracement level of the range from 27.48 to 59.00. During yesterday’s North American session, the pair tried to establish a base above the 55.35 level, representing the 76.4% retracement of the 65.60 – 22.17 range. The pair is seeking direction during today’s Asian session.Technical Support is expected around the 51.38/ 49.76/ 45.81 levels with Stops expected below. Technical Resistance is expected around the 59.97/ 62.68/ 66.80 levels with Stops expected above. Upside price objectives remain around the 62 and 74 levels. On 240-minute chart, Price activity remains above the 50-bar MA (55.02), 100-bar MA, and 200-bar MA. SlowK has Bullishly remained above SlowD with both indicators above 80 and MACD has Bullishly crossed above MACDAverage. On 60-minute chart, Price activity has tried to establish a base above the 100-bar MA (55.95) for hours. SlowK has Bullishly crossed above SlowD while MACD and MACDAverage have converged. BCH/USD (Bitcoin Cash/ US dollar) Bitcoin Cash (BCH/USD) continues to trade in a relatively narrow range through today’s Asian session following technical Bids that emerged around the 125.10 level, just above the 124.74 level that represents the 61.8% retracement level of the appreciation from 104.80 to 157.00. Technical Support is expected around the 124.74/ 121.00/ 117.12 levels. Technical Resistance is expected around the 133.91/ 136.91/ 139.00 levels. Downside price objectives remain the 110 and 82 levels. On 240-minute chart, Price activity has Bearishly remained below the 50-bar MA (129.26), 100-bar MA, and 200-bar MA since the beginning of Monday’s North American session. SlowK constructively remains above SlowD while MACD and MACDAverage appear to be converging. On 60-minute chart, Price activity has mostly been below the 50-bar MA (127.45) since Sunday. SlowK has just crossed above SlowD while MACD and MACDAverage have converged.

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