Bitcoin

Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair traded as high as the 11,424.19 area after being lifted higher from the 10,805.00 level in yesterday’s North American session. A technical clue emerged late in yesterday’s North American session when Bids lifted the pair from daily lows right around the 61.8% retracement of the 8919.72 – 13,868.44 range. The 11,394 and 11,978 levels are the next upside retracement levels related to this range. The pair fell back below the 50-bar MA (4-hourly) during yesterday’s European session.

Bitcoin bears are eyeing some important technical levels to the downside. The 10,700 and 10,637 levels represent downside price extension objectives related to the recent relative high of 12,200 and Stops are likely in place below these areas. Bids could intensify around the 10,267 area and if the market continues to consolidate below the psychologically-important 10,000 figure, chartists are eyeing the 9,671 level as potential technical Support. Above current market activity, the 12,505/ 12,700/ 13,026 areas representing some upside price targets.

Price activity is nearest the 50-bar MA (4-hourly) at 11,561.46 and the 200-bar MA (Hourly) at 11,530.02.

Technical Support is expected around 10,234.22/ 10,087.62/ 9765.93 with Stops expected below.

Technical Resistance is expected around 12,700.54/ 13,026.29/ 13,488.49 with Stops expected above.

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

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

Ethereum

Ethereum (ETH/USD) lost a little bit of ground early in today’s Asian session, trading as low as the 299.31 area after falling from the 304.77 level. The pair traded as high as the 324.50 level during yesterday’s Asian session but then fell to the 295.90 area after Stops were elected below the 100-bar MA (4-hourly) during yesterday’s North American session. Price activity continues to orbit the 302.20 area, a relative historical high that is technically-important given the pair’s eventual depreciation to the 80.60 range.

ETH/USD bears are eyeing the 200-bar MA (4-hourly) below the market, currently indicating around the 273.29 level. Just below that area, the 272.56 remains an important technical level above which Stops were triggered on 16 June and 20 June, and also represents the 23.6% retracement of the move from 894.00 to 80.60. Additional downside price objectives include the 263.60 and 258.92 areas. Chartists anticipate some Bids around the 248 – 249 levels.

Price activity is nearest the 100-bar MA (4-hourly) at 292.22 and the 30-bar MA (Hourly) at 306.32.

Technical Support is expected around 272.56/ 249.90/ 226.56 with Stops expected below.

Technical Resistance is expected around 329.73/ 343.02/ 364.49 with Stops expected above.

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

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