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Sally Ho's Technical Analysis 9 March 2020 BTC ETH

Bitcoin (BTC/USD) declined sharply early in today’s Asian session as the pair fell to the 8159.60 area after trading as high as the 8925.00 area during yesterday’s Asian session, an extension of the selling pressure that began around the 9214.67 level during Saturday’s North American session.   Stops were elected below several technical levels during the pullback, including the 8635.31 and 8592.26 areas that represented upside price objectives related to buying pressure that commenced around the 8400.00 area.  Additional Stops were triggered below downside price objectives related to selling pressure that arose around the 9214.67 area, and these levels included the...

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Sally Ho's Technical Analysis 8 March 2020 BTC ETH

Bitcoin (BTC/USD) gave back some gains early in today’s Asian session as the pair traded as low as the 8850.47 area after trading as high as the 9214.67 level during yesterday’s North American session, an area that was just below the 38.2% retracement of the depreciation from 10522.51 to 8428.80.  Stops were initially elected after the pair appreciated above the 100-bar MA (4-hourly), but those intraday gains could not be sustained and trading activity settled back to just above the 50-bar MA (4-hourly).  The move higher during yesterday’s North American session also added to the pair’s gains above the 50-bar...

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Sally Ho's Technical Analysis 7 March 2020 BTC ETH

Bitcoin (BTC/USD) notched small gains early in today’s Asian session as the pair traded as high as the 9126.57 area after encountering buying pressure around the 9000.01 area during yesterday’s Asian session.  Traders had earlier pushed the pair as high as the 9182.08 area during yesterday’s European session before coming off.    Chartists are observing that the pair is trading just below the 100-bar MA (4-hourly). Following the pair’s ongoing sideways trading pattern, traders are struggling to determine if market sentiment favours an appreciation of BTC/USD, or a depreciation of BTC/USD.  Earlier in the week, trading activity was capped around the...

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Litecoin (LTC) Struggles To Break Past 200 Day EMA, Risks Decline Below $60

Litecoin (LTC) has been struggling to break past the 200-day exponential moving average. Even though it remains above the 200-day moving average, it still risks a major decline below it considering it has repeatedly failed to break past the 200-day EMA. The next decline would pull the price below the 61.8% fib level which means that we might be looking at LTC/USD declining down to the 1.272 fib level to make a new yearly low. This would also lead to the price testing the next fib circle and seeing a potential uptrend for a while before the next downtrend kicks...

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Major Bitcoin Crash Expected Up Ahead 

Bitcoin is trading sideways while altcoins have rallied significantly in the past 24 hours. ETH/USD is up more than 4.6% for the day and has now broken past the key resistance at $233. It has effectively broken past the 200-moving average, but BTC/USD continues to trade sideways and has failed to break past the resistance at $9,156. This is a sign that the market as a whole may be about to top out. This is a pattern we have seen before and altcoins generally top out after Bitcoin does. The 4H chart for BTC/USD shows that Bitcoin risks a major...

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