Sally Ho’s Technical Analysis 22 February 2020 LTC BCH

Fibo Quantum

Litecoin (LTC/USD) extended recent gains in today’s Asian session as the pair gained ground to the 74.27 level after trading as low as the 66.00 level during yesterday’s North American session.  The pair recently traded as high as the 84.50 area, its highest level since August last year, following strong moves through upside technical resistance and psychologically-important levels such as the 50.00 and 75.00 areas.  Stops were elected above the 63.31 level during the pair’s recent ascent, a level that represents the 61.8% retracement of the move from 80.26 to 35.88, with additional Stops reached above the 69.79 level.   Additional Stops were triggered above the 77.46 and 79.86 levels, representing the 50% and 61.8% retracements of the move from 107.04 to 35.88.

The next upside price objective in that range is the 90.25 area, representing the 76.4% retracement.  A broader range that has also impacted price activity is the depreciation from 146.00 to 35.88, a move that commenced last June.  During the pair’s recent ascent higher, some Stops were triggered above the 61.87 and 77.95 levels, representing the 23.6% and 38.2% retracements of this range.  The next upside price objective in this range is the 90.94 area.    Above current market activity, traders anticipate offers and selling pressure around the 80.26 and 84.00 levels.

Price activity is nearest the 100-bar MA (4-hourly) at 75.51 and the 100-bar MA (Hourly) at 73.22.

Technical Support is expected around 69.44/ 66.80/ 59.30 with Stops expected below.

Technical Resistance is expected around 84.50/ 90.94/ 105.43 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.

 

Bitcoin Cash (BCH/USD) gave back some recent gains early in today’s Asian session as the pair fell to the 374.51 level after trading as high as the 384.00 area during yesterday’s Asian session.  During the recent run-up in price from the 191.48 area in early January, the pair stopped dramatically short of testing the psychologically-important 500.00 figure, printing as high as the 497.53 level, its strongest showing since June.  After the second half of 2019 saw strong selling pressure that knocked the pair lower from the 517.75 area to the 170.03 area, the pair came close to retracing most of its losses before fading back below the 400.00 figure and trading as low as the 367.77 area.

The depreciation from the 497.53 level hastened after Stops were elected below the 420.24 area, a level that represents the 23.6% retracement of the move from 170.03 to 497.53.  Some additional Stops were triggered below the 372.43 area, representing the 38.2% retracement of the same range.  The next downside areas of potential technical support related to this range include the 333.78 and 295.14 levels.  Chartists are also monitoring some longer-term and broader ranges including the depreciation from 639.01 to 73.22.  Notably, the 505.49 area represents the 76.4% retracement of this range, and this level also exerted some selling pressure on BCH/USD during its recent climb.  Additionally, another technically-significant range is the move from 888.19 to 73.22.

Price activity is nearest the 200-bar MA (4-hourly) at 395.81 and the 50-bar MA (Hourly) at 381.66.

Technical Support is expected around 347.94/ 332.01/ 311.27 with Stops expected below.

Technical Resistance is expected around 393.09/ 405.00/ 422.88 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.