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Sally Ho's Technical Analysis 3 February 2020 BTC ETH

Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair strengthened to the 9463.09 area after trading as low as the 9140.00 area during yesterday’s Asian session.  Price activity over the past couple of weeks has seen buying pressure emerge around the 8216.71 level, leading to traders electing Stops above the 9033.60 and 9071.18 levels, both of which represent upside price objectives related to the 18 December low of 6430.00.  Additional Stops were triggered above the 9011.90 and 9047.03 areas during the pair’s recent move higher, levels that relate to another recent relative low around the 7963.25 area.  Prior...

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Sally Ho's Technical Analysis 2 February 2020 BTC ETH

Bitcoin (BTC/USD) gained moderate ground early in today’s Asian session as the pair was lifted to the 9367.27 area after trading as high as the 9458.08 area during yesterday’s North American session.  The pair has recently traded above the psychologically-important 9000 level for the second time this year as traders last week again tested selling pressure around the 9188 area.  As BTC/USD has inched closer to the psychologically-important 10000 figure, traders and chartists have been paying closer attention to areas of technical significance, including the 9271.47 area that represents 38.2% retracement of the 13868.44 – 6430.00 range. The next upside...

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Sally Ho's Technical Analysis 1 February 2020 BTC ETH

Bitcoin (BTC/USD) depreciated early in today’s Asian session as the pair weakened to the 9195.49 area during yesterday’s session.  BTC/USD gained about 29% in January, a stark contrast to its -2.6% performance in December.  The pair’s recent appreciation has traders focused on the psychologically-important 10000 figure, but before it can test that level it must get above some areas of technical resistance.  The 9765.93 area represents the 38.2% retracement of the appreciation from 3128.89 to 13868.44, and Stops are likely in place above this area.  The 9532.39 area represents the 38.2% retracement of the 19891.99 – 3128.89 range, and Stops...

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Here’s How The Ethereum (ETH) Bubble Could Pop

Ethereum (ETH) rallied again yesterday and stopped just shy of $190. This was a pretty aggressive move which has a lot of people thinking about the beginning of a new bullish cycle now just like they did in April, 2018. The weekly chart for ETH/USD shows that Ethereum (ETH) had just rallied after finding a temporary bottom back then which led many traders into thinking that a new bullish cycle may be just around the corner. However, that is not what happened and the price started to crash almost 90% from there. We are now at a similar point where...

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Bitcoin Can Fall A Lot Lower Than Expected 

Bitcoin has declined down to the low $9,200s as of now. It appears that the bullish move has come to an end but we cannot be sure until and unless there is an effective decline below the 200-day moving average. One thing that is important to note here is that BTC/USD may show some signs of strength near-term but the long-term outlook is gloomy as ever. In fact, it is even more gloomy now in light of recent developments which is why we think Bitcoin may end up falling a lot lower than expected.  The price of Bitcoin risks major...

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