Bitcoin (BTC/USD) found some buying activity early in today’s Asian session as the pair continued to orbit the 7343.17 level, representing the 61.8% retracement of the move from 9948.12 to 3128.89. Traders lifted the pair higher from the 7220.31 area during yesterday’s Asian session, a level that is just below the 61.8% retracement of the move from 3128.89 to 13868.44. BTC/USD Bulls continue to add long positions above the 200-bar MA (4-hourly) and have been able to keep the pair Bid above the 50-bar MA (4-hourly) during the past several trading sessions.
Notably, BTC/ USD tested another very important level during yesterday’s European session during the move to the 7220.31 area, as this level is also near the 76.4% retracement of the move from 8488.00 to 3128.89. BTC/ USD Bulls are eyeing the 7537.33 and 7688.35 areas as short-term upside targets. Below current market activity, traders are interested to see how the pair will react around the 200-bar MA (hourly) and also around the 7084.98 area, a level that represents the 23.6% retracement of the move from 19891.99 to 3128.89.
Price activity is nearest the 200-bar MA (4-hourly) at 7,267.69 and the 50-bar MA (Hourly) at 7,410.65.
Technical Support is expected around 6526.00/ 6323.42/ 5941.26 with Stops expected below.
Technical Resistance is expected around 7870.10/ 7927.23/ 8338.78 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 Bullishly above SlowD while MACD is Bullishly above MACDAverage.
Ethereum (ETH/USD) continued to trade around some important technical levels early in today’s Asian session as traders attempted to reclaim some of the ground the pair lost early this week. Bids surfaced around the 126.16 level during yesterday’s Asian session, just above the 50% retracement of the move from 116.25 to 135.24, and additional buying pressure emerged around the 127.99 area during yesterday’s European session, right around the 38.2% retracement of the same range.
Traders continued their quest to push the pair above the 50-bar MA (4-hourly) early in yesterday’s North American session. Chartists are observing that the 100-bar MA (hourly) has just Bullishly crossed above the 200-bar MA (hourly), a development that may coincide with additional price appreciation. Notably, this means the 50-bar MA (hourly) is now trading above the 100-bar MA (hourly) and the 200-bar MA (hourly). Above the 130.76 area, additional upside price objectives include the 137.92 area and the 140.94 level.
Price activity is nearest the 50-bar MA (4-hourly) at 128.88 and the 100-bar MA (Hourly) at 129.07.
Technical Support is expected around 119.50/ 115.60/ 111.17 with Stops expected below.
Technical Resistance is expected around 137.61/ 141.74/ 146.00 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.
from Crypto Daily™ https://cryptodaily.co.uk/2019/12/sally-ho-technical-analysis-25-december-2019
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