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Sally Ho's Technical Analysis 22 January 2020 BTC ETH

Bitcoin (BTC/USD) weakened early in today’s Asian session as the pair fell to the 8693.39 area following a late rally to the 8774.31 area during yesterday’s North American session that began earlier in the session around the 8465.00 area.  Following the pair’s sharp decline over the weekend from the 9194.99 area to the 8465.00 level, BTC/USD has largely traded sideways, generally supported above the 8500.00 figure.  During the weekend pullback, the pair remained bid above the 8433.00 area, representing the 50% retracement of the recent 7671.00 – 9194.99 range.  Notably, selling pressure emerged around the 8741.24 area during the pair’s...

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Ethereum (ETH) Could Be On The Verge Of Its Most Devastating Downtrend In Years

Ethereum (ETH) is on the verge of one of its most devastating downtrends in years. The daily chart for ETH/USD clearly shows the trend and it is only a matter of time before we see the price begin to decline again. It will have to test the trend line support at a lower point now to make a lower low. The decline this time will be far more devastating and the fact that ETH/USD is already trading below the 200-day moving average means that it may even enter another brutal downtrend to take out the December, 2018 lows and decline...

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Where Is Bitcoin (BTC) Really Headed?

Bitcoin continues to struggle to hold its ground above the 61.8% fib level at $8.6k but it seems to be struggling too hard. Whenever the price struggles too hard to do something, it usually fails because there is place for hoping and wishing in the market. What is meant to happen does happen most of the time in financial markets. We can see now that BTC/USD is primed for a sharp decline sooner rather than later. The bearish pennant seen on the 1H chart is likely to lead to a crash by the end of the week. Cryptocurrencies pairs like...

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Why The Next Oil Supply Boom Might Drive Bitcoin (BTC) Into The Ground

The infamous oil crash of 2014-15 is known to many of us who have been following traditional markets around the time. However, the majority of Bitcoin (BTC) investors who see the cryptocurrency market as a standalone market with no correlation to other markets with the possible exception of gold find it hard to see that there actually was a correlation between Oil and Bitcoin (BTC) back then. When WTI Crude Oil (US Oil) started to decline in June, 2014 we saw BTC/USD begin an aggressive downtrend that lasted till early 2015. We have seen multiple downtrends in between and a...

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Sally Ho's Technical Analysis 21 January 2020 LTC BCH

Litecoin (LTC/USD) weakened early in today’s Asian session as the pair receded to the 57.12 level after being capped around the 58.19 area during yesterday’s North American session, a level that was right around the 50-bar MA (hourly) at the time.  The pair’s recent climb has seen price activity recently hover around the psychologically-important 60.00 figure following a recent high print around the 63.17 level, right around the 38.2% retracement of the move from 107.04 to 35.88.  Another important level that is impacting price is the depreciation from the 80.26 level to the 35.88 area.  Bids recently emerged around the...

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