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Sally Ho's Technical Analysis 20 January 2020 BTC ETH

Bitcoin (BTC/USD) was still trying to recover early in today’s Asian session as the pair remained quite volatile following a rapid depreciation during yesterday’s European session that saw traders knock the pair as low as the 8465.00 area after trading as high as the 9194.99 area during yesterday’s Asian session.  Traders had been awaiting clues that the pair may be emerging from the sideways trading pattern that it has experienced over the past couple of days, with bids generally keeping the pair above the 8765 level and offers generally keeping the pair below the 9015 level.  Below current market activity,...

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Sally Ho's Technical Analysis 19 January 2020 BTC ETH

Bitcoin (BTC/USD) improved early in today’s Asian session as the pair was lifted to the 8940.00 level after bids emerged around the 8800.10 level during yesterday’s Asian session.  Traders continue to observe the pair’s movements around and below the psychologically-important 9000 figure, a level that it barely managed to pierce last week when BTC/USD traded as high as the 9013.00 level.  Traders continue to monitor many price levels, including the 8847.59 area that represents the 38.2% retracement of the recent move from 8500.00 to 9013.00.  The next downside levels in this range include the 8796.50, 8745.41, and 8682.19 levels.  Traders...

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Sally Ho's Technical Analysis 18 January 2020 BTC ETH

Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair climbed higher to the 8974.53 area after being supported around the 8766.27 level during yesterday’s North American session.  After retesting the 8900 level mid-week, the pair has been largely rangebound and trading sideways, finding buying demand around the 8580 level.  During the pair’s climb higher during yesterday’s Asian session, the pair reached the 8824.01 level, just above the 8823.72 area that represents the 76.4% retracement of the 8899.00 – 8580.00 range.  The pair’s sideways trading has seen the 50-bar MA (hourly) catch up to price activity, reflecting a lack...

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Ethereum (ETH) Misleads Retail Bulls, Price Starts To Decline Again 

Ethereum (ETH) has just faced rejection at a key resistance of $173.14. Previously, we saw this level being a strong support until ETH/USD crashed below it and made a new yearly low last year. Now we are looking at a decision in ETH/USD to ascertain which way the price will move next. So far, it seems that a retest of the 200 day moving average is likely after the recent move. It will come down to the daily close really. If we have a close above the $173.14 level then we expect the price to shoot higher to test the...

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Bitcoin Bulls Are More Optimistic Than Ever 

The price of Bitcoin made another pump to a new yearly high today. We can see that it stopped out just shy of the $9k mark but there are some exchanges on which it might have hit that $9,000 level which is where a lot of sell orders were triggered and as we have seen now BTC/USD has retraced very aggressively. The same happened in the case of ETH/USD as it declined back below the 200-day exponential moving average. We have yet to see Bitcoin test its 200-day moving average but it is now dangerously close to breaking below the...

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