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Bitcoin Might Be Bluffing 

Bitcoin seems to have sparked retail buying interest in the market again after the recent ‘bullishness’. This is a movie that we have watched over and over but for some reason so many people in this market tend to think it could end differently this time. Just last year, we saw a 43% pump culminate in a major crash that followed soon after. The same is very likely to happen this time but this is not what the mainstream crypto media wants you to know. They want to make you believe that the market is ready to begin a new...

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Sally Ho's Technical Analysis 20 March 2020 BTC ETH

Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair traded as high as the 6361.00 level, its strongest level since 12 March, as traders elected Stops above the 5787.42 area during yesterday’s North American session, an upside price objective related to buying pressure that emerged around the 3858.00 area last week.  Additional Stops were triggered above the 5980, 6053, and 6122 areas during the move higher, and traders are waiting to see if another upside price objective around the 6383 area will be tested.  Above that area, traders are observing upside price objectives around the 6481 and 6572...

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Bitcoin Bear Hunt Won’t Last For Long

The recent pump in the cryptocurrency market has gotten some traders excited once again. A move to the upside was long overdue after the brutal correction but after such declines in BTC/USD and the rest of the crypto market, we always want to see sustained growth not pumps and dumps. The price can always crash in the same manner in which it has been propped up and we have seen it happen before. It is clear to most of us at this time how most trading on crypto exchanges is fake and it’s just algorithms and bots trading among each...

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Bearish EUR/USD Outlook Spells Trouble For Bitcoin (BTC)

The Euro has seen a major decline against the US Dollar just recently. The weekly chart for EUR/USD shows that the pair has now declined below the 200-week moving average. This is a very bearish development, one that points to the strong probability of another bear trend in the near future. This is bad news for Bitcoin and the rest of the cryptocurrency market at a time when investors are already panicking. The reason it is worse for the cryptocurrency market is because the price of Bitcoin is influenced directly by the strength or weakness of the US Dollar. This...

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Sally Ho's Technical Analysis 19 March 2020 BTC ETH

Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair traded as high as the 5474.99 area after trading as low as the 5001.00 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.  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 may move above or below this short-term range. Another short-term range that traders are monitoring is the depreciation from...

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