Bitcoin





Bitcoin (BTC/USD) retreated lower to the 8208.99 level early in today’s Asian session after trading as high as the 8310.57 level during yesterday’s North American session. Buying pressure became active during yesterday’s Asian session when traders lifted the pair from the 7762.35 area, preventing BTC/USD from then testing the 7701 area that it tested twice in late September. Yesterday’s buying activity continued well into yesterday’s European session, lifting BTC/USD as high as the 8060.53 area, right around a previous relative low related to a prior move higher to the 13878.80 area.

BTC/USD is again approaching its 50-bar MA (4-hourly) and recently traded between its 50-bar MA (hourly) and 100-bar MA (hourly). Stops were elected above the 7944.70 area during the move higher, representing the 23.6% retracement of the 8535.00 – 7762.35 range, with additional Stops triggered above the 8019.59 area, representing the 61.8% retracement of the 7701.00 – 8535.00 range. Above current market activity, the 8340.51 and 8432.25 areas represent upside price objectives. Some traders also anticipate selling pressure around the 8474.00 level.

Price activity is nearest the 50-bar MA (4-hourly) at 8,162.28 and the 200-bar MA (Hourly) at 8,148.26.

Technical Support is expected around 7,712.45/ 7,508.77/ 7,223.25 with Stops expected below.

Technical Resistance is expected around 8,488.00/ 9,071.00/ 9,651.00 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 Bearishly below SlowD while MACD is Bullishly above MACDAverage.

Ethereum





Ethereum (ETH/USD) appreciated to the 181.50 level early in today’s Asian session as the pair gave back some ground after trading as high as the 182.50 area during yesterday’s North American session. Buying pressure started to lift the pair late in Sunday’s North American session after the pair bottomed out around the 167.50 area. Traders lifted the pair as high as the 176.48 area during yesterday’s European session, triggering Stops above the 50-bar MA (4-hourly) and then above the 175.82 area, representing the 38.2% retracement of the move from 185.89 to 169.59.

Some interesting price activity also took place during yesterday’s European session when price activity moved above the 50-bar MA (hourly) before taking out the 100-bar MA (hourly) and 200-bar MA (hourly). Above current market activity, traders are eyeing the 179.76 and 182.04 areas as upside price targets. Below current market activity, traders are eyeing 170.93 area and 169.62 area as areas of potential technical Support. Also, the 165.25 area represents the 38.2% retracement of the move from 302.20 to 80.60.

Price activity is nearest the 100-bar MA (4-hourly) at 179.61 and the 50-bar MA (Hourly) at 174.27.

Technical Support is expected around 165.01/ 155.50/ 147.60 with Stops expected below.

Technical Resistance is expected around 181.95/ 185.89/ 188.38 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.