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Here’s Why Bitcoin Is Bullish For Now 

The S&P 500 (SPX) started the day in green and rallied hard which gave Bitcoin bulls the opportunity to push the price past $8.8k. At the time of this recording, we are already seeing BTC/USD hold its ground above the $8.8k level. It has effectively climbed past the 200-day moving average and is now holding its ground above it. As long as it remains above it, there is a good chance that we might see it rally towards $9,200 in the near future before it declines further. The majority of retail bears are surprised by this but in our analyses,...

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Potential Dow Jones (DJI) Crash Might See Bitcoin (BTC) Decline Again 

The price of Bitcoin (BTC) is once again rallying higher past $8.8k showing signs of strength. Meanwhile, the Dow Jones Industrial Average (DJI) also seems to be rallying towards the 200-day moving average. However, all such bullishness is not likely to last for long. The most probable scenario is that the DJI will end up declining down to the 200-week moving average and when that happens, we can expect to see BTC/USD at $7.7k if not lower. This is nothing unprecedented and has happened before. If we were to see the DJI drop below the 200-week moving average it would...

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Sally Ho's Technical Analysis 3 March 2020 BTC ETH

Bitcoin (BTC/USD) retraced some recent losses early in today’s Asian session as the pair traded as high as the 8973.45 area after bids emerged around the 8400.00 level during Sunday’s North American session.  The pair appears poised to test the 50-bar MA (4-hourly), currently indicating below the 100-bar MA (4-hourly) and 200-bar MA (4-hourly).  The pair’s 7.9% pullback during February has many traders evaluating and assessing the pair’s current trading activity, especially relative to historical movements and ranges.  BTC/USD traded as low as the 8428.80 area on Friday, its lowest level since late January.  Notably, this level was above the...

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Ethereum (ETH) Risks Further Downside Even Under The Bullish Case 

With the recent spike in BTC/USD, traders are bullish once again but such moves are of little consequence as it all boils down to what happens in the S&P 500 (SPX) next. The trend line support on the RSI for ETH/USD shows that we might see a decline near-term. If we take a look at the chart, it seems likely as the trend line support would have to be tested at some point. The near-term outlook of ETH/USD remains unchanged as long as the price remains below the strong resistance at $227.83. If the price breaks past it, then we...

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Bitcoin Volatility Might Rise Before Super Tuesday 

Bitcoin has been trading sideways this whole time and that is because the cryptocurrency market cannot make the next big decision on its own. The recent moves in BTC/USD have been getting both the bulls and the bears excited but the price has practically gotten nowhere. The 12H chart shows that BTC/USD is still trading below the 200 EMA and waiting for the next big move. Meanwhile, ETH/USD remains above the 100 EMA on the 12H time frame. This shows how much the cryptocurrency market depends on the stock market to make decisive moves.  The next major move in the...

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