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Ethereum (ETH) Remains A Sell Below $233, Price Continues To Be Vulnerable  

Ethereum (ETH) remains a sell below $233 as the price has repeatedly failed to garner the strength to break past this important resistance level. So far, the probability of a rally towards a new yearly high remains very low but if ETH/USD breaks this resistance then that it exactly what we would expect it to do. For now, the RSI remains in a downtrend and so does the price. The MACD is about to see a bearish crossover which means that the price could sharply decline towards the 38.2% fib level in the near future. Ethereum (ETH) and other altcoins...

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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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