cryptodaily.co.uk: Sally Ho's Technical Analysis 15th March 2019
BTC/USD (Bitcoin/ US dollar)
Bitcoin (BTC/USD) displayed some serious volatility along with many of the majors in the alt-coin complex during Thursday’s North American session. In short order, the pair sharply escalated from around the 3850 level to the 3900.00 figure before bidding a hasty retreat to the 3779 level, and then reclaiming most of its lost ground. Stops were triggered above the 3866.46 level, representing the 200-bar MA (240 minutes) and then the 3878.34 level, representing the 23.6% retracement of the 3655 – 3947.33 range. During the sharp spin lower, BTC/USD encountered technical Support just below the 3780.97 level, representing the 23.6% retracement of the move from 4188.79 to 3655.00.
Yesterday’s volatile move created an Outside Bar and the intraday Low was also around the 200-bar MA (240 minute) which came in around the 3783.02 level.
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 is marginally above SlowD and MACD is marginally above MACDAverage.
On 60-minute chart, Price activity is trying to break above the 200-bar MA (3866.89) during today’s Asian session. SlowK is Bullishly diverging from SlowD and MACD has been above MACDAverage since yesterday’s volatility.
ETH/USD (Ethereum/ US dollar)
Ethereum (ETH/USD) also displayed major volatility during Thursday’s North American session as traders took the pair abruptly Higher, electing Stops above the 200-bar MA (132.90), 100-bar MA (133.62), and 50-bar MA (134.11) before testing major technical Resistance around the 134.91 level, representing the 38.2% retracement of the 222.78 – 80.60 range.
Accounts then pushed ETH/USD sharply Lower and elected Stops below the 129.34 level, representing the 61.8% retracement of the move from 122.75 to 140.00, before Support emerged around the 128.90 level.
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, SlowK has just Bullishly crossed above SlowD and MACD Bullishly crossed above MACDAverage during yesterday’s volatility.
On 60-minute chart, Price activity just moved above the 100-bar MA (131.91), triggering nearly USD 0.50 in Stops, and the 200-bar MA is now at 133.91. SlowK has just Bullishly crossed above SlowD and MACD is Bullishly diverging from MACDAverage.
LTC/USD (Litecoin/ US dollar)
Litecoin (LTC/USD) was one of the alt-coins that traded in a volatile manner during yesterday’s North American session as traders pushed the pair Higher and elected Stops above the 55.80 level, representing the 50-bar MA (240 minutes). LTC/USD reached the 57.74 level before spinning Lower.
Traders were unable to challenge the key 58.28 level, representing the 50% retracement of the move from 94.39 to 22.17.
During the rapid deprecation yesterday, LTC/USD tested the 53.11 level, right around the 38.2% retracement of the move from 103.06 to 22.17.
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 200-bar MA (51.67). SlowK has Bullishly crossed above SlowD while MACD is marginally above MACDAverage.
On 60-minute chart, Price activity triggered some Stops yesterday above the 200-bar MA (55.79). SlowK is Bullishly diverging from SlowD and MACD is Bullishly diverging from MACDAverage.
BCH/USD (Bitcoin Cash/ US dollar)
Bitcoin Cash (BCH/USD) rocketed Higher during yesterday’s North American session before plumbing intraday Lows and then retracing. Traders reached Stops above the 130.07 level, representing the 200-bar MA (240 minutes), and then pushed the pair as High as the 133.20 level, just below the important 133.44 level, representing the 38.2% retracement of the move from 109.88 to 157.00.
Traders then elected Stops below the 127.93 level, representing the 50% retracement of the move from 120.36 to 135.50.
Technical Support is expected around the 124.74/ 121.00/ 117.12 levels with Stops below.
Technical Resistance is expected around the 133.91/ 136.91/ 139.00 levels with Stops above.
Downside price objectives remain the 110 and 82 levels.
On 240-minute chart, Price activity Bullishly remains above the 50-bar MA (129.36), 100-bar MA (129.31), and 200-bar MA (130.15). SlowK and SlowD appear to be converging while MACD Bullishly remains above MACDAverage.
On 60-minute chart, Price activity Bullishly remains above the 50-bar MA (129.18), 100-bar MA (128.45), and 200-bar MA (129.37). SlowK Bullishly remains above SlowD while MACD and MACDAverage have converged.
Additional Info
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