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Sally Ho's Technical Analysis 20 February 2020 BTC ETH

Bitcoin (BTC/USD) weakened early in today’s Asian session as the pair tested bids around the 10100.16 level after trading as high as the 10315.00 area during yesterday’s North American session.  Following the pair’s recent move above the psychologically-important 10000 figure and depreciation back below, new trading ranges and areas of technical support and technical resistance have been established.  Some of these levels are already having a technical impact on price activity.  After trading as low as the 9612.12 level earlier in the week and then briefly trading back around the 10004.46 area, Stops were elected below the 9561.28 area during...

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Ethereum (ETH) Could See A Sharp Retracement Before A Bullish Continuation 

Ethereum (ETH) has been on a roll the past few days. We stated in our last analysis on ETH/USD that the price might end up shooting towards $300. While that could still happen, we can now see on the 4H chart for ETH/USD that it has run into a strong resistance. Normally, we would call this a double top and expect a trend reversal from here. However, considering the manner in which Ethereum (ETH) has rallied, this could shape up to be a major ascending triangle that could lead to a breakout in the weeks ahead. At this point, it...

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Bitcoin Remains Strong Above $10k 

Bitcoin has made an impressive move past $10k. Yesterday when we were talking about how BTC/USD had room to rally further the price was trading in the $9.6k zone but most indicators were lining up to suggest that it was likely to happen. Technical analysis is one aspect of the overall analysis but we also need to remain focused on the social side of it. We noticed that a lot of the super bullish influencers on CT had turned bearish yesterday and they were expecting a decline down to $8.5k and lower levels. Most of these Twitter accounts are really...

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Bitcoin (BTC) Finds Strong Support Above $10k, Price Likely To Rally Higher 

Bitcoin (BTC) has found support above the $10k level. We can see on the 1H chat for BTC/USD that it is already trading above the 200 moving average and has bounced strongly off the support at $10,090. This is heartening for the retail bulls who have long been anticipating a rally before halving. This would further strengthen their belief that there is indeed going to be a rally. At this point, it is hard to argue that BTC/USD could decline any time soon. The price has shown signs of strength and could rally further from here to our previously stated...

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Sally Ho's Technical Analysis 19 February 2020 BTC ETH

Bitcoin (BTC/USD) scored sizable gains early in today’s Asian session as the pair rallied to the 10298.75 area, its strongest level after weakening from the 10522.51 area last weekend.   Stops were elected above the 9994.76 and 10119.31 areas during the drive higher, representing the 50% and 61.8% retracements of the depreciation from 10522.51 to 9467.00.  The next upside level in this range is the 10273.41 area, representing the 76.4% retracement of the pullback, and that level was absorbed early in today’s Asian session.  The pair’s recent climb has seen it trade near some important technical levels, including the 10354.90 area...

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