Sally Ho’s Technical Analysis 6 February 2019 BTC ETH

Bitcoin (BTC/USD) extended recent gains early in today’s Asian session as the pair escalated higher to the 9769.70 level following strong gains made from the 9220.81 area during yesterday’s European session.  The steady upward trajectory commenced during Tuesday’s European session when bids lifted the pair from the 9078 area.  The move hastened after Stops were elected above the 95969665, and 9716 areas during the climb, with additional Stops triggered above the 9757 area.  Additional Stops are likely in place above the 9805 area, with more Stops likely in place above the 9815 and 9845 areas ahead of some anticipated selling pressure expected around the 9960 area

Additional Stops are likely in place around the 9961 and 9963 levels ahead of the psychologically-important 10000 figure.  Above that area, upside price objectives include the 10060101041016710313, and 10443 areas, all of which correspond to buying pressure that emerged around the 6430.00 and 6854.67 areas in late December and early January.  During pullbacks, traders will be interested to see if demand emerges around the 94979370, and 9260 areas with additional technical support possible around the 9127 and 9047 levels

Price activity is nearest the 50-bar MA (4-hourly) at 9340.88 and the 100-bar MA (Hourly) at 9326.07.

Technical Support is expected around 9370.10/ 9128.51/ 8156.16 with Stops expected below.

Technical Resistance is expected around 9963.74/ 10167.80/ 10313.70 with Stopsexpected above.  

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.

Ethereum (ETH/USD) continued its run higher early in today’s Asian session as the pair traded as high as the 207.93 area, its highest level since September.  Stops were electedabove the 199.11 level, representing the 76.4% retracement of the move from 224.71 to 116.25, and also above the 199.50 area that represents the late-October high.  Many Stopswere elected above the pair’s ascent including above the 195.77196.21, and 199.93 areaslevels that relate to the buying pressure that emerged around the 125.52 and 116.25 areas.

Additional Stops were reached above the 206.01 and 206.68 areas during the pair’s sharp ascent higher, representing upside price objectives that emerged around the 131.80 and 122.80 levels in late November and late December.  Above current market levels, traders see the 225.78 level as being an upside price objective with Stops likely in place above this area.  Traders are interested to see how the market reacts around the 196.19195.32188.92, and 187.51 levels during pullbacks.  Additional upside price objectives include the 215.09 and 224.71 areas.

Price activity is nearest the 50-bar MA (4-hourly) at 184.54 and the 50-bar MA (Hourly) at 191.42.

Technical Support is expected around 195.32/ 183.33/ 170.00 with Stops expected below.

Technical Resistance is expected around 207.93/ 215.09/ 225.78 with Stops expected above.

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

Source: https://cryptodaily.co.uk/2020/02/sally-ho-technical-analysis-6-february-2020-btc-eth-bitcoin-ethereum

Writer: https://cryptodaily.co.uk/author/sally-ho

On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

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