cryptodaily.co.uk: Sally Ho's Technical Analysis 15 February 2020 BTC ETH

  • Saturday, 15 February 2020 02:00
Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair gained ground to the 10373.39 area after finding buying demand around the 10102.50 area during yesterday’s European session.  The pair had earlier traded as high as the 10395.66 area before retreating during the North American session.  This intraday high was just below the 10397.09 area, an upside price objective that became technically relevant when bids emerged around 8880.87 level following upside pressure that lifted the market from the 6430.00 area.  Traders continue to evaluate the pair’s recent upside progress within the context of important technical levels derived from important historic ranges.  Stops were elected above the 10149.22 area during the pair’s recent move higher, a level that represents the 50% retracement of the depreciation from 13868.44 to 6430.00.  The next upside retracement level in that range is the 11,026.96 area.  Another important level is the 10615.49 area, representing the 61.8% retracement of the move from 13202.63 to 6430.00, and traders anticipate some Stops above this area. Additionally, another important broader range that traders continue to monitor is the depreciation from 19891.99 to 3128.89.  The 38.2% retracement of this range is the 9532.39 area, and traders will see how much technical support emerges around this level during pullbacks lower.  The next upside retracement level in this range is the 11510.44 area.  Above current market activity, upside price objectives include the 10615.81 area, a level that gained technical significance when buying activity emerged around the 7723 area following previous bids around the 6430 level.  Additional upside levels include the 10722.86, 10839.22, and 10956.95 levels. Price activity is nearest the 50-bar MA (4-hourly) at 10052.90 and the 50-bar MA (Hourly) at 10273.76. Technical Support is expected around 9948.51/ 9757.64/ 9370.10 with Stops expected below. Technical Resistance is expected around 10534.04/ 10652.04/ 10698.24 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 Bearishly below SlowD while MACD is Bullishly above MACDAverage.   Ethereum (ETH/USD) extended recent gains early in today’s Asian session as the pair reached the 288.49 level after trading as low as the 260.13 level during yesterday’s European session.  Prior to the late ascent to multi-month highs, the pair had earlier traded as high as the 286.09 area during yesterday’s North American session, just above the 285.70 level that became relevant after bids emerged around the 175.00 area. This follows and relates to bids that emerged around the 125.52 level during the drive higher.  Recent price activity has reflected an improvement in market sentiment that has catapulted the market well above the psychologically-important 250.00 figure.  Some important historical ranges are being closely monitored, including the depreciation from 318.60 to 116.25.  Stops were elected above the 241.30 and 270.85 levels during the pair’s recent climb, areas that represent the 61.8% and 76.4% retracements of the range.  Likewise, Stops were recently triggered above the 240.37 and 269.66 areas, representing the 50% and 61.8% retracements of the 364.49 – 116.25 range.  A broader range includes the depreciation from 547.57 to 80.60, and additional Stops were elected above the 259.09 area during the move higher.  The next upside retracement level in this range is the 314.17 area.  Additional Stops are cited above the 281.51 and 282.92 levels.  An additional upside price objective includes the 290.32 area. Price activity is nearest the 50-bar MA (4-hourly) at 239.81 and the 50-bar MA (Hourly) at 270.75. Technical Support is expected around 230.27/ 226.38/ 222.73 with Stops expected below. Technical Resistance is expected around 296.15/ 304.10/ 306.44 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 Bullishly above MACDAverage.

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