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Sally Ho's Technical Analysis 15 January 2020 BTC ETH

Bitcoin (BTC/USD) rocketed higher early in today’s Asian session as the pair reached the 8859.17 area after buying pressure commenced during Monday’s North American session around the 8061.00 level.  Stops were elected above the 8585, 8694, 8793, and 8799 levels during the pair’s steady ascent that intensified during yesterday’s North American session.  Traders are now focusing on the 9006.95, 9003.54, 9071.12, and 9128.51 areas as upside price objectives.  Chartists also note that the 9150.15 area represents technical resistance. The movement to the upside absorbed the 8338.78 area, a level that represents the 76.4% retracement of the move from 9948.12 to...

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Why Ethereum (ETH)’s Recent Breakout Might Actually Be A Fakeout 

It is interesting how so many retail traders look at breakouts in such a simple way. They also conveniently choose to ignore how certain things have happened in the past and what they have led to. For instance, let us look at Fibonacci retests in the past. We can see on the daily chart for ETH/USD that the price tested the 200-day moving average and the 38.2% fib level around $204.59 in September of last year. We can also see how the price shot up past both the 38.2% and the 200 Day MA and even closed above those levels. ...

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Bitcoin (BTC) May See Further Upside Near-Term But The Risks Outweigh The Rewards 

Bitcoin (BTC) has shot up to the upside once again. This has been an expected move to the upside as we discussed in our last few analyses. We expressed the probability of BTC/USD testing the 1.272 fib retracement level and that seems to be in the making now. We also talked about how Bitcoin (BTC) was out of time to make a decision and now it has finally made a decision. However, this seems like a move to stall the inevitable. We could see a retest of the $8,685 level but any further upside from there is unlikely. In fact,...

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Sally Ho's Technical Analysis 14 January 2020 LTC BCH

Litecoin (LTC/USD) gained marginal ground early in today’s Asian session as the pair climbed higher to the 50.02 area during yesterday’s session after finding technical support around the 48.85 area during yesterday’s North American session.  Despite the pair’s early gains, LTC/USD has drifted lower from a recent high around the 52.03 area over the weekend. The pair’s recent gains have pushed the pair above the psychologically-important 50.00 figure for the first time since 22 November.  In mid-December, the pair reached a recent relative low around the 35.88 area and buying pressure lifted the pair back above the 50.00 area over...

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Ripple (XRP)’s Fate Hangs In The Balance As Price Reaches Key Decision Point 

Ripple (XRP) is about to make a big move that will determine its direction for the weeks and months to come. The weekly chart for XRP/USD shows that this is one of the most important decisions that Ripple (XRP) will make since 2018. If the price ends up breaking above the descending triangle that it is currently trading in, we would still need to wait for confirmation to make sure that this is a genuine breakout with follow through. However, if it fails to do that and breaks straight below the key support of $0.21, we would be looking at...

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