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Sally Ho's Technical Analysis 30 April 2019

Sally Ho's Technical Analysis 30 April 2019

Bitcoin

Bitcoin (BTC/USD) appreciated during today’s Asian session, trading as high as the 5165.49 area after Bids emerged around the 5100.00 figure late in yesterday’s North American session. The pair was challenged around the 5176.07 area during yesterday’s European and North American sessions, a key level we continue to spotlight that represents the 38.2% retracement of the 8488.00 – 3128.89 range. Early in yesterday’s European session, the pair was driven lower and Bids emerged around the 5078.52 area, representing the 76.4% retracement of the move from 4901.99 to 5650.01 and another level we have noted.

Above the current range, the 5189.54 level has recently been toppish, just above the 61.8% retracement of the 4901.99 – 5650.01 range. The 5225.44/ 5276.00/ 5306.51 are also key areas to watch, as is the 100-bar MA (4-hourly), now around the 5247.70 area.

Price activity is nearest the 100-bar MA (4-hourly) at 5247.70 and the 50-bar MA (Hourly) at 5163.05.

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 Bullishly above MACDAverage.

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

 

Ethereum

Ethereum (ETH/USD) saw some upward price pressure early in today’s Asian session, despite a very bearish technical indication related to the 50-bar MA (4-hourly) crossing below the 200-bar MA (4-hourly) for the first time this month, a technical event that typically coincides with price depreciation. Despite this, the pair reached the 153.24 level after finding some demand around the 151.11 area late in yesterday’s North American session.  The pair traded as low as the 148.81 area during yesterday’s North American session, its weakest print since 25 April 2019. Technically, the pair must establish a base around the 151.69 area in order to achieve become technically constructive.

As we have noted extensively, ETH/USD continues to orbit the 153.30 level, representing the 23.6% retracement of the move from 176.94 to 146.00. On the upside, the pair would need to challenge technical Resistance around the 157.82 area, representing the 38.2% retracement of the aforementioned 176.94 – 146.00 range, followed by the 200-bar MA (4-hourly) and 50-bar MA (4-hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 160.70 and the 100-bar MA (Hourly) at 153.68.

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/ 172.88 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.

 

Litecoin


Litecoin (LTC/USD)
gained ground early in today’s Asian session with the pair testing Offers around the 68.57 area after trading as low as the 64.86 area during yesterday’s North American session. Minor Stops were elected above the 68.37 area, representing the 23.6% retracement of the move from 79.77 to 64.86. The 69.35 level is a nearby upside target, representing the 23.6% retracement of the 83.90 – 64.86 range.

Below current price activity, the 64.36 area is being watched closely by chartists as it represents the 61.8% retracement of the move from 42.40 to 90.84 and a break would technically open up the 55.97 area. The 200-bar MA (4-hourly) recently crossed above the 50-bar MA (4-hourly), a bearish indication, and it appears the 200-bar MA (4-hourly) is poised to cross above the 100-bar MA (4-hourly) as well in what would be another bearish indication.

Price activity is nearest the 50-bar MA (4-hourly) at 72.30 and the 50-bar MA (Hourly) at 68.03.

Technical Support is expected around the 64.36/ 55.97/ 42.40 levels with Stops expected below.

Technical Resistance is expected around the 72.16/ 78.58/ 81.13 levels 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.

 

Bitcoin Cash

BCH/USD (Bitcoin Cash/ US dollar)
found a small amount of upward price trajectory during the Asian session as the pair tested Offers around the 239.53 level after trading as low as the 227.40 area. The pair has now lost substantial ground since peaking around the 312.02 area on 23 April. Chartists have noted that the 200-bar MA (4-hourly) and 50-bar MA (4-hourly) are converging and if the 200-bar MA (4-hourly) crosses above, it could presage additional weakness.

Below current price activity, the 211.46/ 206.64/ 202.06 areas represent downside targets and areas of possible technical Support. On the upside, the 240.89 level represents the 23.6% retracement of the move from 284.54 to 227.40 and if BCH/USD is able to move above that area, the 247.37/ 252.79 areas will assume greater technical significance.

Price activity is nearest the 200-bar MA (4-hourly) at 262.97 and the 50-bar MA (Hourly) at 247.81.

Technical Support is expected around the 211.46/ 202.06/ 195.62 levels with Stops below.

Technical Resistance is expected around the 249.23/ 259.72/ 267.27 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.

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