cryptodaily.co.uk: Sally Ho's Technical Analysis 21st March
BTC/USD (Bitcoin/ US dollar)
Bitcoin (BTC/USD) continued its move higher and printed at its Highest level since 24 February 2019, with Stops triggered above the 4026.62 level, representing the 76.4% retracement of the move from 4239.37 to 3337.87. During the pair’s climb to 4044.82, Stops were also elected above the 4037.47 level, representing the High from 16 March.
The 4013.59 level provided some intraday technical Support during the Asian session, representing the 76.4% retracement of the recent 4037.47 – 3936.30 range.
Technical Support is expected around 3938.66/ 3877.79/ 3763.33/ 3684.13/ 3620.14 with Stops expected below.
Technical Resistance is expected around 4062.82/ 4111.39/ 4188.79/ 4239.37 with Stops expected above.
Upside price objectives remain around the 4163/ 4358/ 4673 levels.
On 240-minute chart, Price activity remains significantly above the 50-bar MA (3939.52). SlowD Bearishly crossed above SlowK while MACD Bullishly remains above MACDAverage.
On 60-minute chart, Price activity remains above the 50-bar MA (3992.49). SlowD is Bearishly above SlowK and MACD and MACDAverage are Bearishly converging.
ETH/USD (Ethereum/ US dollar)
Ethereum (ETH/USD) gained positive ground during today’s Asian session with the pair climbing to the 139.33 area after Stops were elected above the 139.13 level, representing the 38.2% retracement of the 165.62 – 122.75 range. The 139.13 level then became short-term Resistance during the Asian session, with Bids later emerging around the 137.45 level, representing the 61.8% retracement of the 160.62 – 100.15 range.
Technical Support is expected around the 134.91/ 132.10/ 130.05 levels with Stops expected below.
Technical Resistance is expected around the 143.05/ 144.19/ 147.22 levels with Stops expected above.
Downside price objectives remain around the 119.57 level.
On 240-minute chart, Price activity is nearest the 200-bar MA (136.50). SlowK Bullishly remains above SlowD while MACD and MACDAverage have converged.
On 60-minute chart, Price activity is nearest the 100-bar MA (137.67). SlowK and SlowD have Bearishly converged while MACD remains Bullishly above MACDAverage.
LTC/USD (Litecoin/ US dollar)
Litecoin (LTC/USD) has traded very technically through today’s Asian session as the pair tested the 60.91 level, right around the 76.4% retracement of the recent 62.22 – 56.80 range. Bids thereafter emerged around the 59.51 level, representing the 50% retracement of the same range. Bears are eyeing the 58.87 and 58.08 levels on a further pullback.
Technical Support is expected around the 57.54/ 54.48/ 48.33 levels with Stops expected below.
Technical Resistance is expected around the 66.80/ 72.16/ 75.06 levels with Stops expected above.
Upside price objectives remain 74 level.
On 240-minute chart, Price activity is nearest the 50-bar MA (58.41). SlowD has Bearishly crossed above SlowK while MACD and MACDAverage have Bearishly converged.
On 60-minute chart, Price activity is trading just above the 100-bar MA (59.47). SlowD remains Bearishly above SlowK while MACDAverage has Bearishly crossed above MACD.
BCH/USD (Bitcoin Cash/ US dollar) extended recent gains as traders pushed the pair higher to the 158.90 level. Significant Bids emerged yesterday after traders tested the 152.50 level, just above the 23.6% retracement of the 104.80 – 166.80 range. Technicians are now waiting to see if the 155.87 level can hold as short-term technical Support. Otherwise, a breach could portend a test of the 149.06 level, representing the 38.2% retracement of the move from 120.36 to 166.80.
Technical Support is expected around the 150.87/ 145.95/ 143.58 levels with Stops below.
Technical Resistance is expected around the 171.41/ 186.47/ 194.60 levels with Stops above.
Downside price objectives remain the 110 and 82 levels.
On 240-minute chart, Price activity is nearest the 50-bar MA (147.52). SlowK remains Bullishly above SlowD while MACDAverage is Bearishly above MACD.
On 60-minute chart, Price activity continues to orbit the 50-bar MA (157.39). SlowD is Bearishly above SlowK while MACD remains Bullishly above MACDAverage.
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