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Ethereum (ETH) Could Still Test The 38.2% Fib Retracement At $236 Before Crashing

Ethereum (ETH) has shot up well past the 200-day moving average. Doing that, it has succeeded in breaking past the 61.8% fib retracement level as well. However, it is now at a decision point and while we expect a sharp decline in the market up ahead, it could still end up testing the 38.2% fib retracement level at $236 before the next downtrend. It is very important to realize that no matter how strongly you believe the market is going to decline in the near future, it could rally higher near-term even past the 38.2% especially this weekend.  The daily...

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Bitcoin Has Yet To Fill Gaps Below $9k

Bitcoin is about to close its most important day for the week because whatever happens in the weeks ahead will depend on how BTC/USD closes today. If we see a close below the previous market structure at $9,791 the probability that Bitcoin is going to begin a decline next week will increase significantly. On the other hand, if we see a move higher today to force a close above that level, the odds of the market rallying next week would increase significantly. The bulls are eagerly expecting the price to shoot towards the moon before the next halving but the...

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Can Bitcoin (BTC) Crash This Weekend? 

Bitcoin (BTC) still remains within the rising wedge and this has a lot of traders wondering now where it might be headed next. The bulls expect this rising wedge to be broken to the upside with further bullish continuation whereas the bears expect this to break to the downside leading to the beginning of a long-awaited downtrend. No matter what ends up happening it will happen soon and will have important implications for the market in the near future. The sentiment has turned far too optimistic than I had anticipated. It is interesting how so many traders have fallen for...

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Sally Ho's Technical Analysis 7 February 2020 BTC ETH

Bitcoin (BTC/USD) ceded some recent gains early in today’s Asian session as the pair came off to the 9724.65 area after trading as high as the 9857.00 area during yesterday’s European session.  The pair’s recent progress represents its strongest level since late October and was achieved after Stops were elected above the 9805, 9815, and 9845 levels.   Additional Stops are likely in place around the 9961 and 9963 levels ahead of the psychologically-important 10000 figure.  Above that area, upside price objectives include the 10060, 10104, 10167, 10313, and 10443 areas, all of which correspond to buying pressure that emerged around...

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Ethereum (ETH) Finally Tests 200-Day EMA But Now Risks A Brutal Decline 

Ethereum (ETH) has finally run into the 200-day exponential moving average against Bitcoin (BTC) and successfully tested it. In fact, the daily chart for ETH/BTC shows the pair trading above it at the moment. However, we can see what Ethereum (ETH) stands to lose against Bitcoin (BTC) in the days and weeks ahead should it begin another downtrend which we expect it to. If Ethereum (ETH) breaks this downtrend against Bitcoin (BTC) and does not decline below the 200-day moving average, then this would have been it for the bear market and we would be looking at the beginning of...

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