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Is The Bitcoin Correction Over? 

Bitcoin is down more than 10% for the day. It declined more than 14% earlier and could still decline further. So, the big question is, “Is this correction over?”. The answer for the most part is, “Yes, it is over”. Please note that “over” does not mean that it cannot go down lower. The situation with stock markets across the globe is still too volatile and we could see big swings either way. However, the damage is done and the purpose is served. A lot of Bitcoin (BTC) has changed hands and there is nothing much to gain from dragging...

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Sally Ho's Technical Analysis 16 March 2020 BTC ETH

Bitcoin (BTC/USD) experienced very volatile movements early in today’s Asian session as the pair traded as high as the 5985.00 level after trading as low as the 5163.16 area during yesterday’s North American session.  The 5985.00 level represented an upside price objective related to buying activity that commenced around the 4860.00 area during Saturday’s Asian session.  One range that traders are carefully monitoring is the appreciation from last week’s recent relative low around the 3858.00 area to the 5995.00 level.  Bids have emerged above the 5178.67 area during recent sessions, right around the 38.2% retracement of the appreciation.  Buying pressure...

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Sally Ho's Technical Analysis 15 March 2020 BTC ETH

Bitcoin (BTC/USD) was little-changed early in today’s Asian session as the pair traded as high as the 5514.45 level after trading as low as the 5214.47 area during yesterday’s North American session.  One range that traders are carefully monitoring is the appreciation from last week’s recent relative low around the 3858.00 area to the 5995.00 level.  Bids have emerged above the 5178.67 area during recent sessions, right around the 38.2% retracement of the appreciation.  Buying pressure had earlier materialised at or just below the 4925.60 area, representing the 50% retracement of the appreciating range, and traders await indications the markets...

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Sally Ho's Technical Analysis 14 March 2020 BTC ETH

Bitcoin (BTC/USD) gained ground early in today’s Asian session as the pair climbed higher to the 5449.99 level after trading as low as the 3858.00 area during yesterday’s Asian session.  The price activity represented the pair’s weakest level since March 2019 and occurred after traders elected Stops below a wide range of price levels during the massive depreciation and decoupling from risk.  These price levels included the 7793, 7417, 7265, 6993, 6613, 6468, 6345, 5619, 5558, 5329, and 4509 levels.  During the pair’s modest recovery, the pair as high gained ground to the 5885 level, came off to the 4696.55...

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Is This The End For Bitcoin? 

The big crash finally happened. Bitcoin lost more than 50% in its value in the past 48 hours and a lot of altcoins crashed even more aggressively. This explains how we can never be complacent in a market like this and we should always be on our toes. Previously when the oil market crashed and prices declined more than 30% in a day, I specifically said that there is no reason to think that this cannot happen in the cryptocurrency market. I was surprised that it happened this fast but I was definitely prepared for it. Now, to a lot...

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