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Sally Ho’s Technical Analysis 15th March 2019

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Bitcoin (BTC/USD) displayed some serious volatility along with many of the majors in the alt-coin complex during Thursday’s North American session. In short order, the pair sharply escalated from around the 3850 level to the 3900.00 figure before bidding a hasty retreat to the 3779 level, and then reclaiming most of its lost ground. Stops were triggered above the 3866.46 level, representing the 200-bar MA (240 minutes) and then the 3878.34 level, representing the 23.6% retracement of the 3655 – 3947.33 range. During the sharp spin lower, BTC/USD encountered technical Support just below the 3780.97 level, representing the 23.6% retracement of the move from 4188.79 to 3655.00.

Yesterday’s volatile move created an Outside Bar and the intraday Low was also around the 200-bar MA(240 minute) which came in around the 3783.02 level.

Technical Support is expected around 3763.333684.133620.14 with Stops expected below.

Technical Resistance is expected around 3977.303987.973997.634026.624062.82 with Stopsexpected above.

Upside price objectives remain around the 4163/ 4358/ 4673 levels.

On 240-minute chart, SlowK is marginally above SlowD and MACD is marginally above MACDAverage.

On 60-minute chart, Price activity is trying to break above the 200-bar MA (3866.89) during today’s Asian session. SlowK is Bullishly diverging from SlowD and MACD has been above MACDAveragesince yesterday’s volatility.

ETH/USD (Ethereum/ US dollar)

Ethereum (ETH/USD) also displayed major volatility during Thursday’s North American session as traders took the pair abruptly Higher, electing Stops above the 200-bar MA (132.90), 100-bar MA(133.62), and 50-bar MA (134.11) before testing major technical Resistance around the 134.91 level, representing the 38.2% retracement of the 222.78 – 80.60 range.

Accounts then pushed ETH/USD sharply Lower and elected Stops below the 129.34 level, representing the 61.8% retracement of the move from 122.75 to 140.00, before Support emerged around the 128.90 level.

Bids are expected around the 126.82 level, representing the 76.4% retracement of the 122.75 (4 Mar) – 140.00 (6 March) range.

Technical Support is expected around the 125.16/ 123.25/ 121.76 levels with Stops expected below.

Technical Resistance is expected around the 137.62/139.13/ 140.61 levels with Stops expected above.

Downside price objectives remain around the 119.57 level.

On 240-minute chart, SlowK has just Bullishly crossed above SlowD and MACD Bullishly crossed above MACDAverage during yesterday’s volatility.

On 60-minute chart, Price activity just moved above the 100-bar MA (131.91), triggering nearly USD 0.50 in Stops, and the 200-bar MA is now at 133.91SlowK has just Bullishly crossed above SlowDand MACD is Bullishly diverging from MACDAverage.

LTC/USD (Litecoin/ US dollar)

Litecoin (LTC/USD) was one of the alt-coins that traded in a volatile manner during yesterday’s North American session as traders pushed the pair Higher and elected Stops above the 55.80 level, representing the 50-bar MA (240 minutes). LTC/USD reached the 57.74 level before spinning Lower.

Traders were unable to challenge the key 58.28 level, representing the 50% retracement of the move from 94.39 to 22.17.

During the rapid deprecation yesterday, LTC/USD tested the 53.11 level, right around the 38.2% retracement of the move from 103.06 to 22.17.

Technical Support is expected around the 51.38/ 49.76/ 45.81 levels with Stops expected below.

Technical Resistance is expected around the 59.97/ 62.68/ 66.80 levels with Stops expected above.

Upside price objectives remain around the 62 and 74 levels.

On 240-minute chart, Price activity remains above the 200-bar MA (51.67). SlowK has Bullishlycrossed above SlowD while MACD is marginally above MACDAverage.

On 60-minute chart, Price activity triggered some Stops yesterday above the 200-bar MA (55.79). SlowK is Bullishly diverging from SlowD and MACD is Bullishly diverging from MACDAverage.

BCH/USD (Bitcoin Cash/ US dollar)

Bitcoin Cash (BCH/USD) rocketed Higher during yesterday’s North American session before plumbing intraday Lows and then retracing. Traders reached Stops above the 130.07 level, representing the 200-bar MA (240 minutes), and then pushed the pair as High as the 133.20 level, just below the important 133.44 level, representing the 38.2% retracement of the move from 109.88 to 157.00.

Traders then elected Stops below the 127.93 level, representing the 50% retracement of the move from 120.36 to 135.50.

Technical Support is expected around the 124.74/ 121.00/ 117.12 levels with Stops below.

Technical Resistance is expected around the 133.91/ 136.91/ 139.00 levels with Stops above.

Downside price objectives remain the 110 and 82 levels.

On 240-minute chart, Price activity Bullishly remains above the 50-bar MA (129.36), 100-bar MA(129.31), and 200-bar MA (130.15). SlowK and SlowD appear to be converging while MACD Bullishlyremains above MACDAverage.

On 60-minute chart, Price activity Bullishly remains above the 50-bar MA (129.18), 100-bar MA(128.45), and 200-bar MA (129.37). SlowK Bullishly remains above SlowD while MACD and MACDAverage have converged.

Source: cryptodaily.co.uk

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Bitcoin

Bitcoin will drop to $3,500 before we see a major bull run, says trader

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While Bitcoin has managed to hold above $4,000 according to Coinmarketcap, one trader believes that BTC will drop to $3,500 before the next bull run.

Speaking to CCN, crypto trader known as The Crypto Dog in the community said that it’s still possible Bitcoin sinks to $3,500 in the short term, adding that market conditions haven’t changed over the last several days.

“I think we could still see $35XX,” the trader said, adding, it [Bitcoin] hasn’t changed much. It wasn’t a particularly significant move. It bounced at a clear support, but there’s been no positive reaction yet. If this support holds, I expect a sweep of the highs near $4,100-$4,140.

“Decent chance we just saw that ‘one more leg up.’ I greatly reduced exposure up here above $4,000. Waiting for $3,5XX for long entries. I’d love an opportunity to short $4,1XX, but not sure if we’ll see it,” he said.

Bitcoin’s struggle to maintain momentum is likely the reason for cautious optimism shown by traders and analysts.

Recently, technical analyst knew as DonAlt explained that we can’t safely conclude the bear market is over until Bitcoin breaks out above $4,600.

Source :chepicap

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Bitcoin

Bitcoin SV [BSV] Price Analysis: Bears dominate market as token’s downtrend continues

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Bitcoin SV [BSV] continued its bearish run on the back of the collective market dropping below the $140 billion mark. After two successive bullish waves in the past week, the coin market turned red.

At press time, the BCH hardfork fell against the US dollar by 1.26 percent, and was trading at $65.88. The market cap of the coin stood at $1.16 billion, trailing Cardano [ADA] by over $220 million.

Bitforex took the top spots with respect to BSV trade volume, via the trading pairs BSV/USDT and BSV/BTC. The pairs accounted for 12.28 and 12.17 percent, respectively. Other notable exchanges on the list were HitBTC, IDAX, and IDCM.

1-hour

Source: Trading View

The one-hour BSV chart showed a massive downtrend stretching from $68.71 to $66.32, with the coin dropping further below. The sole uptrend was prior to this drop when the coin rose from $67.71 to $68.71.

Bitcoin SV found immediate support at $64.55, which the coin was hovering above. The immediate resistance level stood at $68.77.

The Bollinger Bands pointed to a massive increase in volatility as the price declined. The Moving Average line indicated a bearish swing.

The Chaikin Money Flow tool showed a decrease in the money inflow to BSV tokens as the CMF line was below 0.

The Awesome Oscillator showed a significant decrease in short term market momentum, but the concluding bars being green indicated an imminent bullish change.

1-day

Source: Trading View

Bitcoin SV saw two downtrends, with the first downtrend shaving the price from $75.71 to $67.15. The second downtrend pulled the price down from $70.39 to $67.65.

The coin found immediate support at $61.72, which the coin touched in February. Bitcoin SV’s immediate resistance level stood at $75.65.

The Parabolic SAR indicated a bearish market, as the dotted lines were above the coin’s trend line.

The Relative Strength Index showed a notable decrease in investor interest as the RSI dropped down from 55.65 to 46.38, at press time.

The MACD continued projecting bearish signs as the MACD line pushed below the Signal line.

Conclusion

Bitcoin SV failed to hold on to the bulls as the coin’s price declined below the $70 mark. In the short term, the coin’s volatility was high, while the money inflow dropped. Short-term momentum was negative, further pointing to the resoluteness of the bears. In the long-term, the MACD and the Parabolic SAR indicated a bearish market.

Source. ambcrypto.

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Bitcoin

Bitcoin Price Drops Back Below $4K But Bull Outlook Still Intact

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  • Bitcoin failed to capitalize on a bull breakout above $4,040 yesterday, but the short-term outlook remains bullish as the higher-lows pattern is still intact.
  • A convincing break above the three-day chart resistance of $4,040 still looks likely and could be followed by a rally toward the recent high of $4,190.
  • The immediate outlook would turn bearish if prices find acceptance below $3,920 (previous day’s low). A bearish close, if confirmed, could yield a drop to $3,700–$3,658 (Feb. 27 low).

Bitcoin (BTC) has dropped back from levels over $4,000, but the short-term outlook will remain bullish as long as prices are holding above key support at $3,920.

The crypto market leader jumped to a 25-day high of $4,055 yesterday, having secured a bullish UTC close above the psychological hurdle of $4,000 on Wednesday, going by Bitstamp data. The breakout above the crucial three-day chart resistance of $4,040, however, was short-lived with prices falling back to a five-day low of $3,920 before closing the day at $3,974.

Notably, the negative price action engulfed the trading range seen in the previous four days, which is widely considered an early sign of bull exhaustion.

That said, the path of least resistance is still to the higher side, as the bounce from lows near $3,920 has left the bullish higher lows pattern intact along the trendline connecting the Feb. 8 and Mar.4 lows.

For the immediate outlook to turn bearish, the engulfing price action seen yesterday needs a strong follow through in the form of a convincing break below $3,920.

As of writing, BTC is trading at $3,980, representing a 1.28 percent drop on a 24-hour basis.

Daily chart

On the daily chart, BTC created a bearish outside reversal candle yesterday as trading began on an optimistic note but ended with pessimism.

A bullish-to-bearish trend change, however, would be confirmed only if prices close below $3,920 (low of the bearish candle) today. A move below $3,920 would confirm a downside break of the ascending trendline and shift risk in favor of a deeper drop toward the Feb. 27 low of $3,658.

On the higher side, a break above $4,055 would reinforce the short-term bullish setup and could fuel a rally toward the recent high of $4,190.

3-day chart

The odds of a rally toward $4,235 (inverse head-and-shoulders neckline) would strengthen if the current three-day candle closes (today) above $4,040, validating the bullish engulfing candle created in three days to March 16.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

 

source:coindesk.

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