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Bitcoin (BTC) Could Fall As Low As $1,200 In 2020

Bitcoin (BTC) could fall as low as $1,200 towards the end of this bear market. At the moment, this sounds ludicrous to the vast majority of the market that is already expecting a rally to the moon now that halving is around the corner. However, what most of them don’t realize is that halving is just one other tool to help with the slow bleed that is going to take the price down to its previous peak of $1,185. The market at this point is ready to make a big decision, one that is likely to push the price down...

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Sally Ho's Technical Analysis 31 January 2020 BTC ETH

Bitcoin (BTC/USD) fought for additional gains early in today’s Asian session as the pair continued to advance past the psychologically-important 9000 figure.  Traders have steadily pushed the pair higher from the 8216.71 level over the past week, electing a series of Stops along the way.  Major Stops were elected above the 9033.60 and 9071.18 levels, both of which represented 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 move higher earlier this week, levels that relate to another recent relative low around the 7963.25 area. ...

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Ethereum (ETH) Fails To Close Above 200 Day Moving Average, Risks Downside 

Ethereum (ETH) is struggling to break above the 200-day moving average but so far it has miserably failed. This level also corresponds to a previously broken market structure which will now serve as a strong resistance. It appears that the recent bullish move in the market has now come to an end. Speculation on how the cryptocurrency market could rally on uncertainty in the stock market due to the Coronavirus or political developments regarding Trump impeachment and Democratic presidential primaries now appear baseless as the stock market has started to decline. We know from the past that it does not...

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Coronavirus Might Be Brutal For Bitcoin

Coronavirus has now seen a more rapid pace of transmission compared to the SARs outbreak. This is a serious development, one that will have important implications for the stock market and therefore for the cryptocurrency market. The near-term outlook of the stock market has been affected by all this and we have seen the S&P 500 (SPX) begin a downtrend. We know from the trading history of BTC/USD that every time we have seen a major downtrend in the stock market, the price of Bitcoin has followed and crashed as well.    The daily chart for ETH/USD shows that the...

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Coronavirus Outbreak Could Trigger A Major Crash In S&P 500 (SPX) And Bitcoin (BTC) 

Bitcoin (BTC) bulls are the most optimistic they have been in months. However, stock market investors seem to be even more optimistic. The best way to ascertain how optimistic or pessimistic people are in any market is not to look at how they feel about the market at a certain time but how they are allocated. We can see that almost 70% of traders are long on Bitcoin with only 30% short. Investors are even more optimistic on the stock market based on how they are allocated. At the moment, we have seen a slowdown due to uncertainty surrounding the...

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