Bitcoin

Bitcoin (BTC/USD) continued to be pressured early in today’s Asian session as the pair depreciated to the 7508.77 area after facing selling pressure during yesterday’s European and North American sessions. The pair has twice tested the 7515.25 area multiple times over the past several hours, representing the 38.2% retracement of the move from 4967.61 to 9090.00. Some Stops were elected below the 200-bar MA (4-hourly) yesterday around 7777.00, and then again below the 7724.78 area, representing the 38.2% retracement of the 5516.12 – 9090.00 range.

BTC/USD continues to consolidate recent gains and traders continue to identify some targets and price objectives below the current market price. Technical support targets include the 7343/ 7223 levels with additional Bids expected around the 7187/ 7084/ 7028 areas. Another interesting level is the 6881.34 area, representing the 61.8% retracement of the move from 5516.12 to 9090.00. Chartists are also focusing on the recent move lower from 7975.80 and have identified the 7436/ 7309/ 7103 areas as downside price extension targets.

Price activity is nearest the 200-bar MA (4-hourly) at 7804.08 and the 100-bar MA (Hourly) at 7851.55.

Technical Support is expected around 7343.17/ 7187.64/ 6881.34 with Stops expected below.

Technical Resistance is expected around 8230.98/ 8566.38/ 8761.96 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 Bearishly below MACDAverage.

Ethereum

Ethereum (ETH/USD) reversed course and moved higher early in today’s Asian session as the pair escalated to the 235.69 area after declining to the 226.56 area late in yesterday’s North American session. Stops were elected below the 237.60 area late in yesterday’s European session, just below the 200-bar MA (4-hourly). Additional Stops were also reached below the 236.89 area, representing the 23.6% retracement of the move from 281.89 to 222.99. During the move lower, the pair stopped just short of testing the 225.39 area, representing the 50% retracement of the move from 162.00 to 288.77.

Chartists are focusing on some key downside price targets and objectives. Notably, the 210.43 area represents the 61.8% retracement of the aforementioned 162.00 to 288.77 range, and the 191.92 area represents the 76.4% retracement of the same range. Technicians are also eyeing some important downside price extension objectives below current market activity. These relate to the move lower from 274.75 and include the 221/ 208/ 188 levels.

Price activity is nearest the 200-bar MA (4-hourly) at 238.50 and the 50-bar MA (Hourly) at 241.79.

Technical Support is expected around 223.08 / 217.55/ 209.75 with Stops expected below.

Technical Resistance is expected around 248.95/ 258.80/ 266.75 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.