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Sally Ho's Technical Analysis 17 January 2020 BTC ETH

Bitcoin Bitcoin (BTC/USD) was little changed early in today’s Asian session as the pair traded as high as the 8702.27 area after trading as low as the 8580.00 area during yesterday’s Asian session.  Traders have recently pushed the pair above the psychologically-important 8500 figure and are looking to see if the pair can remain above this area.  BTC/USD recently traded as high as the 8900.00 area, just below the 8909.35 area that represents an upside price objective related to the recent appreciation from the 7671.00 area. Similarly, the 8919.54 and 8923.86 levels are important areas that the market recently lacked...

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Ethereum (ETH) Faces Stern Rejection At 200 Day EMA, Eyes Further Downside 

Ethereum (ETH) has faced stern rejection at the 200-day exponential moving average and is now on the verge of beginning another downtrend. As we can see on the daily chart, this downtrend is likely to pull the price down to the $100 mark. Before that happens, the $133.83 level will serve as a strong support that ETH/USD will struggle to break. Nevertheless, a downtrend is expected as the price seems to have either topped out or is very close to topping out. Both the RSI and Stoch indicators now signal overbought conditions that might pave the way for further downside...

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Bitcoin Risks Downside Around Chinese New Year 

Bitcoin keeps on surging higher with no signs of a slowdown. We can see that it is currently holding strong above $8.6k and even if it declines near term, we could still see it rally higher to test the previous yearly high again or rise even higher to test the $9k level. However, we can also see that it is now very close to beginning the next major downtrend. The weekly close will be very important in this case. If we see a close above the 61.8% fib level around $8,681, we can expect further upside to test the 200-day...

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Bitcoin (BTC) Risks Decline Below Key Trend Line Support After Chinese New Year

Bitcoin (BTC) has made quite a big move to the upside. It is still holding strong above $8.6k but that is not likely to last for long. The daily chart for BTC/USD shows us that we have soon to see a decision. The Chinese new years is days away on the 27th of January and we have seen most of the time in Bitcoin’s trading history that a key decision is made around the Chinese New Year. The price has yet to test the 200-day moving average which could be a point where it faces a strong rejection. Meanwhile, the...

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Sally Ho's Technical Analysis 16 January 2020 BTC ETH

Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair climbed back to the 8899.00 level during yesterday’s North American session after buying pressure emerged around the 8550.00 area during yesterday’s European session.  The pair has recently traded at its strongest level since early November following a rapid climb from around the 8000 figure to the 8900 figure, a bullish development that could enable traders to test the psychologically-important 9000 figure for the first time since early November.  One indication of BTC/USD’s recent strength has been its recent trading activity above the 8533.25 level, representing the 50% retracement of...

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