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Altcoin Dominance Has Room To Rise Before The Next Decline In Ethereum (ETH) 

Ethereum (ETH) is down a lot more than Bitcoin (BTC) for the day and risks further downside. However, now that the mainstream media is all bearish on cryptocurrencies near term, as contrarians, it is time that we look at the opposite side of things. The daily chart for Altcoin dominance (Others.D) shows that it is trading within a bearish pennant that has previously led to significant further downside. Now, there is no denying that the same could happen once again. However, before it does, altcoins may still have limited room to rally. It is important to note that this should...

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Bitcoin And Chinese New Year Of The Rat 

Bitcoin is finally doing what we have been anticipating for the past few days. While the price was trading around $8,700, we talked about the probability of a decline down to the $8,000 level. So far, BTC/USD seems to have found temporary support at the $8,300 level but it can fall lower down to the 61.8% fib level. It is not likely to decline significantly below $8,000 because that would defeat the purpose of the bull trap that the big players are trying to create. There is a lot of effort that has gone into this trap and they would...

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Bitcoin (BTC) Manipulation Expected To Rise In Chinese New Year Of The Rat 

Bitcoin (BTC) saw one of its most unprecedented cases of manipulation in October of last year when the price pumped 43% in less than 48 hours. The move was aimed at triggering a massive short squeeze which inflicted serious pain on the bears. Now, the stakes were high that time but they were not as high as they are now as Bitcoin heads into the Chinese New Year of the Rat. The big players in this market that literally run the show have one simple objective which is to milk the market till its proverbial udders fall off. This is...

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Sally Ho's Technical Analysis 24 January 2020 BTC ETH

Bitcoin (BTC/USD) extended recent losses early in today’s Asian session as the pair receded to the 8278.00 area, down from the 8791.76 high during Wednesday’s European session.  Given the pair’s inability to sustain its recent break above the psychologically-important 9000 figure, some technically-significant levels remain the focus of traders.  One important technical range is the move from 10540.49 to 6430.00 and one of its important levels is the 8558.56 area, representing the 50% retracement of that range.  The market orbited this area for a few days following its escalation higher to the 9194.99 area last weekend.  Other important levels in...

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Ethereum (ETH) Could Still Make One Last Bullish Move Against Bitcoin (BTC) 

Ethereum (ETH) could yet make one last bullish move against Bitcoin (BTC) before the next major downtrend kicks in. It is quite probable at this point. We can see on the daily time frame on the ETH/BTC chart that the pair might shoot towards the 200-day moving average and print a fake out before the actual downtrend begins. The stakes are too high at this point and this might be the last opportunity the market makers and the whales get to trap in as many bulls as possible before the next major downtrend. Once the price starts to crash below...

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