[Market] BTC ETH Technical Analysis 7 January 2020

Bitcoin (BTC / USD) in trading the Asian session earlier this expanding recent gains after yesterday's North American trading session high of $ 7615.68, the pair climbed to $ 7577.00. Earlier in the Asian session yesterday, buying demand appears near 7312.22.

In the past three weeks, the pair has bypassed the level of 7343.17, representing 9934.12 - the 61.8% retracement of 3128.89 range. The pair continued the recent failure to break through the 7473.42 area, on behalf of 1050.49 - 6526.00 range of 23.6% retracement, which means that BTC / USD bears are still in control. Long-term bias for the currency remains negative, especially considering the tremendous selling pressure since the end of October the pair since the market peaked in the vicinity of 10540.49 faced.

If the BTC / USD bulls can push the market higher, the market needs to break through the 7870 area continued. Traders are expected in 7688 and 7775 will be above the level of a number of stop-loss, if elected, they may promote the BTC / USD challenging psychologically important 8000 figures. Under the current market activity, traders expect there will be some buying in the area near the 6727,6538 and 6440. It may be docked below the 6854 area. Above the current market activity, traders are expected to be close to 8535 and encountered some selling pressure in 8062,8213,8338. Above the 8735 area might stop.

• Price activity closest to the 50-bar MA (four hours per hour) at 7,291.88 and the 50-bar MA (per hour) at 7,463.61.
• Technical support is expected at around 6526.00 / 6323.42 / 5941.26, it is expected to stop at the bottom.
• Expected technical resistance around 7870.10 / 7927.23 / 8338.78, and stop bit at the top.
• In FIG 4 hours, SlowK bearish below SlowD, and MACD bullish than MACDAverage.
• On the graph 60 minutes, than slow slow KK bull Bull, MACD and below the short MACDAverage.

Ethernet Square (ETH / USD) rose earlier in today's Asian session, the pair rose to the 142.99 level, up from 134.15 yesterday regions of North America period. Although these prints are the strongest since mid-December, but the long-term bias remains relatively negative. In late October, the currency area was as high as 199.50, slightly below the psychologically important 200.00. Prior to this, ETH / USD in late September was as high as 224.34, while in June before the market was as high as 364.43. A level associated with these relatively high traders pay close attention to is 135.90, which is from 23.6% retracement of 199.50 to 116.25.

Now the market has broken through the 135.90 area, we will pay close attention to 145.33 area. ETH / USD short and the limp market is expected to focus on important technical level, including 127.99,127.14,126.50,125.75,123.50 and 120.73. Below 116.25 area could test 104.77 area, which is the last major technical support area above the psychological support level of 100.00. ETH / USD bulls and those who expect the market is concerned about the strength of important technical levels, including 144.77 and 146.59. Above the 148.05 level quoted some stops.

• 200 closest price movement moving average (4 hours) and 50 135.78 moving average (per hour) at 137.70.

• Technical support is expected around 132.90 / 126.04 / 119.50, it is expected to stop at the bottom.

• Expected technical resistance at around 146.00 / 153.00 / 157.73, is expected to stop at the top.

• In FIG 4 hours, SlowK bearish below SlowD, and MACD bullish than MACDAverage.

• On the graph 60 minutes, than slow slow KK bull Bull, MACD and below the short MACDAverage.