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Sally Ho's Technical Analysis 30 January 2020 BTC ETH

Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair gained ground to the 9399.89 area after finding technical support around the 9224.75 area during yesterday’s European session and trading as high as the 9439.83 area during yesterday’s Asian session.  The pair’s resurgence this week has seen the pair get back above the 8447.58 and 8590.41 areas, representing the 23.6% and 38.2% retracements of the recent depreciation from 9194.99 to 8216.71.  Thereafter, Stops were elected above the 8705.85 area, representing the 50% retracement of the same range.  Given the pair’s recent climb, traders are evaluating BTC/USD’s trading activity within...

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Ethereum (ETH) Runs Into Strong Resistance At 61.8% Fib Retracement Level 

Ethereum (ETH) has broken a descending channel and has shot towards the 200-day moving average once again. This “broken” descending channel is something you would see more and more analysts and traders talk about in the near future. However, we only have to go a few months back to see that the exact same thing has happened before! We have seen similar descending channels being broken and the price has declined after. So, what does this mean? Simply put, it means that a trend line resistance only gives us insights as to a single trend. If the trend line resistance...

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Is This A Good Time To Be Long On Bitcoin? 

Bitcoin is holding strong above the $9k level but a lot of traders that were previously bearish are now wondering what is going on. Some are doubting themselves and asking if the bulls had been right all along and they made a mistake. Well, we have been talking about a potential bull trap in Bitcoin for a long time in our video analyses. The fact that so many people are buying into the “halving bull run” narrative gave us more reason to think that the market makers and the whales would end up setting a trap to lure such traders...

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Is Bitcoin (BTC) Ready To Shoot Past $10,000? 

Bitcoin (BTC) has shown some signs of strength lately and we have seen the price climb above $9k the past few days. This is not surprising because for weeks now we have been talking about a potential bull trap before the next major downtrend. The 1H chart for BTC/USD shows that the price is quite likely to end up testing $10k before it starts to decline. To the majority of the market, this is the beginning of a new bullish cycle. I am inclined to believe this is one of the biggest bull traps in years and we are likely...

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Sally Ho's Technical Analysis 29 January 2020 BTC ETH

Bitcoin (BTC/USD) reclaimed some lost ground early in today’s Asian session as the pair moved higher to the 9073.85 area after finding technical support around the 8880.87 area during yesterday’s North American session.  Earlier in yesterday’s North American session, the pair had traded as high as the 9188.62 area before coming off.  The pair inched steadily higher earlier this week, triggering Stops above the 8447.58 and 8590.41 levels that represent the 23.6% and 38.2% retracements of the 9124.99 – 8216.71 range.  Traders drove the pair higher above the 50-bar MA (hourly), 100-bar MA (hourly), and 200-bar MA (hourly) as they...

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