Ethereum / Breaking News / Bitcoin / Analytics
Bitcoin (BTC/USD) gained ground early in today’s Asian session as traders lifted the pair to the 11,042.00 area following steady demand that resumed during yesterday’s Asian session. Stops were elected above the 10,958.60 area during the pair’s ascent late during yesterday’s North American session, a level that represents the 50% retracement of the 8,048.75 – 13,868.44 range. The next upside levels related to this range include the 11,645.32 and 12,494.99 areas.
The pair tested the 50-bar MA (4-hourly) during yesterday’s European session and then moved above the area during the push to multi-session highs. BTC/USD is now trading just below the 100-bar MA (4-hourly), now indicating around the 11,134.70 area. BTC/USD bulls face some immediate upside price pressures above its current level. Chartists anticipate some significant technical Resistance between the 11,262 – 11,439 levels. A couple of other important levels that technicians are watching include the 11,510 and 11,759 areas, with the latter representing the 50% retracement of the 13,868.44 – 9,651.00 range.
Price activity is nearest the 100-bar MA (4-hourly) at 11,134.70 and the 50-bar MA (Hourly) at 10,571.06.
Technical Support is expected around 10,268.07/ 10,046.06/ 9,532.39 with Stops expected below.
Technical Resistance is expected around 11,202.00/ 11,510.44/ 12,227.57 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.
Ethereum (ETH/USD) appreciated early in today’s Asian session as the pair traded as high as the 236.58 area, resuming its steady climb higher that began during Thursday’s North American session. The 222.55 area again provided some important technical Support during yesterday’s North American session,