Sally Ho's Technical Analysis 27 April 2019

Bitcoin

Bitcoin (BTC/USD) gained ground early in today’s Asian session and continued to orbit a key technical level around 5176.07, representing the 38.2% retracement of the move from 8488.00 to 3128.89. Yesterday, the pair drifted lower during the European and North American sessions, eventually trading as low as the 5041.14 area before reclaiming some lost ground.

BTC/USD has a variety of upside challenges it may encounter including the 100-bar MA (4-hourly) at 5240.22 and the 50-bar MA (hourly) at 5340.04. The 5265.70 level is technical Resistance as well, representing the 50% retracement of the 7402.50 to 3128.90 range. Other key areas of possible congestion include the 5225.44/ 5306.51/ 5387.57/ 5487.55 levels.

Price activity is nearest the 100-bar MA (4-hourly) at 5240.22 and the 50-bar MA (Hourly) at 5287.58.

Technical Support is expected around 4901.99/ 4764.41/ 4394.64 with Stops expected below.

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

On 4-Hourly chart, SlowK 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

Ethereum (ETH/USD) showed some strength early in today’s Asian session as the pair was lifted higher from the 149.11 level during yesterday’s North American session and managed to climb above the 153.30 area, representing the 23.6% retracement of the 176.94 – 146.00 range. Chartists are watching to see if the pair can establish a technical base around the 151.69 area, representing the 50% retracement of the move from 222.78 to 80.60.

Upside targets now include the 157.82/ 161.47/ 165.12/ 169.64 areas. The 200-bar MA (4-hourly) is around 159.26 and then the 50-bar MA (4-hourly) and 100-bar MA (4-hourly) are around 167.38 and 167.16. Technicians are also interested to see if ETH/USD can remain Bid above the 146.74 area, representing the 38.2% retracement of the move from 187.62 to 80.60.

Price activity is nearest the 200-bar MA (4-hourly) at 159.26 and the 50-bar MA (Hourly) at 157.60.

Technical Support is expected around the 146.74/ 137.61/ 132.90 levels with Stops expected below.

Technical Resistance is expected around the 161.47/ 165.12/ 169.64 levels with Stops expected above.

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

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

Litecoin

Litecoin (LTC/USD) appreciated during today’s Asian session as the pair moved higher to the 71.90 level after trading as low as the 69.50 area during the North American session. Notably, a Bid emerged around the 70.20 level, representing the 38.2% retracement of the 22.18 – 99.89 range, and this is a possible indication of short-term upward strength. Chartists are now looking to see if Bids can emerge during the pullback to 71.45, the 23.6% retracement of the recent depreciation from 79.77 to 68.88.

LTC/USD will need to contend with the 72.16 area during a move higher, representing the 61.8% retracement of the 103.06 – 22.17 range. Other important areas of technical Resistance include the 75.06/ 76.39/ 78.16 areas. Additionally, the 200-bar MA (4-hourly) is around 74.95 with the 50-bar MA (4-hourly) around 76.56.

Price activity is nearest the 200-bar MA (4-hourly) at 74.66 and the 50-bar MA (Hourly) at 72.76.

Technical Support is expected around the 67.17/ 62.62/ 55.35 levels with Stops expected below.

Technical Resistance is expected around the 78.58/ 81.13/ 87.39 levels 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.

Bitcoin Cash

BCH/USD (Bitcoin Cash/ US dollar) gained ground to the 261.47 level during today’s Asian session but not before traders took the pair down to the 250.00 figure during yesterday’s North American session, the pair’s weakest print since 3 April 2019. Chartists have noted that the 50-bar MA (4-hourly) is now around 254.82 and that some Stops were elected yesterday after the pair traded below this Moving Average for the first time since 14 March 2019.

During any continued move higher, the pair’s first major challenge will be the 264.64 level, representing the 23.6% retracement of the move from 312.02 to 250.00. Other key areas that any sustainable appreciation would need to challenge include 271.35/ 277.77/ 288.33. Also, it is worth noting that the 50-bar MA (4-hourly) is now around 287.41 followed by the 100-bar MA (4-hourly) around the 291.21 area.

Price activity is nearest the 200-bar MA (4-hourly) at 254.82 and the 50-bar MA (Hourly) at 269.50.

Technical Support is expected around the 250.00/ 232.10/ 211.46 levels with Stops below.

Technical Resistance is expected around the 273.69/ 284.17/ 295.64 levels with Stops 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.