Sally Ho’s Technical Analysis 9th April 2019

Bitcoin

Bitcoin (BTC/USD) took a breather early in the Asian session after traders drove the pair as high as the 5314.59 level. Minor Stops were triggered above the 5300.53 level, representing the 76.4% retracement of the recent move from 5352.50 to 5132.28. During today’s pullback, Bids emerged around the 5215.38 area, just above the 5211.19 area which represents the 76.4% retracement of the wider 5345.00 – 4778.00 range, as noted in our 7 April 2019 analysis.

Additional selling pressure may see the 5184.25 level tested again, an area that provided intraday technical Support yesterday. As we noted in our 8 April 2019 analysis, chartists and technicians are interested to see if the 5244.04 and 5176.07 levels can become technically constructive.

Additional Buying pressure will spotlight key upside price objectives including 5733.84/ 5941.26/ 6393.93.

Price activity is nearest the 50-bar MA (4-hourly) at 4807.66 and the 50-bar MA (Hourly) at 5169.14.

Technical Support is expected around 4877.05/ 4582.91/ 4393.64 with Stops expected below.

Technical Resistance is expected around 5769.98/ 5941.26/ 6393.93 with Stops expected above.

On 4-Hourly chart, SlowK remains Bullishly above SlowD while MACD remains Bearishly below MACDAverage.

On 60-minute chart, SlowK remains Bearishly below SlowD while MACD remains Bearishly below MACDAverage.

Ethereum

Ethereum (ETH/USD) struggled with a key technical level today as traders were unable to reclaim the 183.33 level, representing the 23.6% retracement of the 515.88 to 80.6 range and an area we spotlighted in our 8 April 2019 analysis. The 173.82 level provided technical Support during yesterday’s trading activity, representing the 76.4% retracement of the move from 180.10 to 153.50.

The likely break of the 173.82 area will refocus chartists on the 169.94/ 166.80/ 163.68/ 159.78 retracement levels.

Additionally, as noted in our 4 April 2019 analysis, the 172.88 level also represents the 38.2% retracement of the move from 322.16 – 80.60, and a break would open up a possible move to the 137.61 level.

Additional upside technical Resistance is expected around 191.40/ 213.84/ 217.55.

Price activity is nearest the 50-bar MA (4-hourly) at 160.66 and the 100-bar MA (Hourly) at 174.32.

Technical Support is expected around the 168.47/ 151.69/ 134.91 levels with Stops expected below.

Technical Resistance is expected around the 191.40/ 201.38/ 213.84 levels with Stops expected above.

On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bearishly converging with MACDAverage.

On 60-minute chart, SlowK remains Bearishly below SlowD while MACD remains Bearishly below MACDAverage.

Litecoin

Litecoin (LTC/USD) met with more weakness during today’s Asian session as traders pushed the pair lower to the 85.59 level. Buying activity over the last several hours has been unable to drive the pair above the 90.13 area, representing the 50% retracement of the 99.89 – 80.37 range. Chartists are eyeing Stops below the 84.98 area, representing the 23.6% retracement level of the same range.

Some technicians are eyeing the 84.89 area as a possible exhaustion point.

Price activity is nearest the 50-bar MA (4-hourly) at 79.52 and the 100-bar MA (Hourly) at 88.16.

Technical Support is expected around the 78.89/ 72.10/ 65.60 levels with Stops expected below.

Technical Resistance is expected around the 94.81/ 102.26/ 116.06 levels with Stops expected above.

On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.

On 60-minute chart, SlowK remains Bearishly below SlowD while MACD remains Bearishly below MACDAverage.

Bitcoin Cash

BCH/USD (Bitcoin Cash/ US dollar) continued to trade in a relatively tight range as Bulls continued to be thwarted by the 313.09 area, the 50% retracement of the 354.17 – 202.00 range. Technical Support has emerged around the 296.99 area, representing the 38.2% retracement of the 659.00 – 73.22 range. These areas of technical Support and Resistance have BCH/USD confined to a narrow range.

A break of this range will quickly spotlight the 289.18 level, representing the 38.2% retracement of the 638.55 – 73.22 range. If and when that level breaks, chartists will be eyeing the 275.42 area, representing the 23.6% retracement of the 929.99 – 73.22 range. Below this area, the 265.55 and 211.46 areas represent downside areas of possible technical Support.

Price activity is nearest the 50-bar MA (4-hourly) at 256.42 and the 100-bar MA (Hourly) at 298.93.

Technical Support is expected around the 289.18/ 258.91/ 229.49 levels with Stops below.

Technical Resistance is expected around the 322.78/ 332.55/ 355.89 levels with Stops above.

On 4-Hourly chart, SlowK remains Bearishly below SlowD while MACD remains Bearishly below MACDAverage.

On 60-minute chart, SlowK remains Bearishly below SlowD while MACD remains Bearishly below MACDAverage.