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Sally Ho's Technical Analysis 20 September 2019

Bitcoin Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair traded as high as the 10379.15 area, right around the 76.4% retracement of the 10543.63 – 9853.85 range.  During yesterday’s Asian session, the pair depreciated sharply to the 9585.86 area, its most drastic move lower in weeks.  Significant Stops were elected below the 9765.93 area during the descent, representing the 38.2% retracement of the 3128.89 – 13868.44 range.  Bids emerged above the 9532.39 area, a level that represents the 38.2% retracement of the 19891.99 – 3128.89 range. Strong buying activity emerged during yesterday’s North American session. Short positions...

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Ethereum (ETH) Breaks Below Rising Wedge Signaling Further Downside

Ethereum (ETH) has finally shown signs of weakness after a strong move to the upside that surprised both the bulls and the bears. Earlier this month we discussed the possibility of ETH/USD breaking out after it broke out of the falling wedge. However, the price action was far too weak for that to happen as it kept on facing rejection at the 21 day EMA. The price had to test the top of the descending channel but the manner in which it did that was a classic case of market manipulation. A lot of bears were shaken out as the...

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Bitcoin (BTC) Crashes Below $10,000 Days Ahead Of Bakkt Futures Launch

Bitcoin (BTC) has declined well below $10,000 just before the most anticipated Bakkt futures launch. This has unnerved a lot of the bulls that were hoping for a rally to the moon by Monday. However, when everyone starts thinking the same way, it is best to think the opposite. Remember, Bakkt is “scheduled” to be launched on Sep 23, 2019. It was “scheduled” to be launched on December 12, 2018 as well and if you had been hoping in November 2018 that $6,000 was going to hold just because Bakkt was going to be launched then you would have made...

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Bitcoin (BTC) Finally Declines Below $10,000. What Now?

Bitcoin (BTC) has finally declined below $10,000 in an interesting turn of events. It is particularly interesting that this has happened just before the scheduled Bakkt launch on Monday Sep 23, 2019. Certainly, it has left a lot of traders wondering as to why this has happened but those that have been following the hype around Bakkt would know that this has happened before as well. It is not just about Bakkt though. Every event that creates hype leads to the price of the concerned asset declining just before the event. We have seen this happen in the case of...

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Sally Ho's Technical Analysis 19 September 2019

Bitcoin Bitcoin (BTC/USD) was weaker early in today’s Asian session as the pair traded as low as the 10131.82 area after trading as high as the 10224.12 area during yesterday’s North American session.  During that session, traders experienced some interesting short-term volatility when the price quickly fell to the 10073.90 area before quickly climbing back to the aforementioned 10224.12 area. The markets reacted by putting on technical positions that saw Bids twice emerge ahead of the 10131.40 area, representing the 61.8% retracement of the range. Market sentiment remains mixed for BTC/USD as the pair continues to trade below its 50-bar...

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