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Bitcoin Whales Vs. Retail Traders

Bitcoin could not make a decision over the weekend because it cannot make such a big move on its own. It has to rely on the outlook of larger markets on trading days to assume a definitive direction. At this point, it is mostly the whales and market makers deciding what happens next in the market. This is made further clear by a look at the commitment of traders (COT) report from Bitcoin CME Futures. We can see how the whales have been trading BTC/USD against retail traders. Some fund mangers have been trying to mimic the moves of these...

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Is Bitcoin (BTC) About To Repeat History Again? 

Bitcoin (BTC) is waiting for a decision as it remains within the rising wedge that it has been trading in since the beginning of the year. We have yet to see BTC/USD make a decisive move out of the rising wedge. So far, the probability of Bitcoin (BTC) doing what it has before i.e. printing a gartley pattern and declining lower seems pretty high. The 61.8% fib retracement level at $8,145 has been a strong resistance to breach and if we see a break below the rising wedge then a decline down to the key support at $7,189 will be...

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Sally Ho's Technical Analysis 13 January 2020 BTC ETH

Bitcoin (BTC/USD) remained in a very tight range early in today’s Asian session as the pair was capped around the 8167.25 area, having traded in a rangebound manner during the past day.  After trading as low as the 7963.25 area during yesterday’s Asian session, the pair’s range has been extremely limited.  More evidence of the technical trading activity emerged this weekend when BTC/USD bears commenced with selling pressure around the 8290.00 area, just above the 8280.97 area that represents the 76.4% retracement of the 8469.39 – 7671.00 range.  Bears remained in control down to the 7963.25 area, just below the...

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Bitcoin (BTC) Is One Day Away From Making The Decision, Big Moves Expected Ahead

Bitcoin (BTC) has now reached a key decision point that is of extreme significance. We can see on the daily chart for BTCUSDLongs/BTCUSDShorts that the ratio has been on a parabolic rise since May, 2019. However, it has now come to a point where it will have to decide whether to maintain the uptrend or break it, whichever of the two happens, it has to happen now. This weekend has been inconsequential as most weekends before it, but BTC/USD is very likely to make the decision next week most likely the first day. Historically we have seen such parabolic rallies...

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Sally Ho's Technical Analysis 12 January 2020 BTC ETH

Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair climbed to the 8225.09 area after trading as low as the 8011.56 area during yesterday’s European session.  Above this level, traders continue to watch the 8280.97 level, representing the 76.4% retracement of the 8469.39 – 7671.00 range.  The pair has gained decent ground after trading as low as the 7671 area during Friday’s European session, just above the 7661.79 area that is an upside price objective.  Offers emerged during yesterday’s North American session just above the 8219.84 area, a level that represents the 38.2% retracement of the 10950.57 –...

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