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Sally Ho’s Technical Analysis 21 July 2019

Bitcoin

Bitcoin (BTC/USD) gained ground early in today’s Asian session as traders lifted the pair to the 11,042.00 area following steady demand that resumed during yesterday’s Asian session. Stops were elected above the 10,958.60 area during the pair’s ascent late during yesterday’s North American session, a level that represents the 50% retracement of the 8,048.75 – 13,868.44 range. The next upside levels related to this range include the 11,645.32 and 12,494.99 areas.

The pair tested the 50-bar MA (4-hourly) during yesterday’s European session and then moved above the area during the push to multi-session highs. BTC/USD is now trading just below the 100-bar MA (4-hourly), now indicating around the 11,134.70 area.  BTC/USD bulls face some immediate upside…

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