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Bitcoin (BTC) Faces Rejection At 50 Day EMA, Risks Crippling Crash Below $7k

Bitcoin (BTC) has projected some strength recently which is being touted as the beginning of a new bullish cycle by most retail bulls. More traders and analysts are beginning to think that considering the recent move scared off many of the retail bears who are very quiet all of a sudden. However, in this market the majority of traders tend to forget how certain things happen over and over again. If we look at the daily chart for BTC/USD, we can see that it has faced a clear rejection at the 50-day moving average. However, most retail bulls seem unconcerned...

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Sally Ho's Technical Analysis 5 January 2020 BTC ETH

Bitcoin (BTC/USD) gained ground early in today’s Asian session as the pair climbed to the 7339.78 area after buying pressure emerged around the 7263.32 area during yesterday’s North American session.  Earlier in yesterday’s North American session the pair traded as high as the 7398.00 area, just above the 7391.87 area that represents the 23.6% retracement of the move from 6430.00 to 7688.99.  Prior to moving back above the 7000 figure, BTC/USD had started the new year off on the defensive, falling back below the psychologically-important 7000 figure on Thursday after Stops were elected below the 7084.98 area earlier in the...

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Bitcoin (BTC) Has Not Capitulated Yet, Here’s What It Means For The Price

Bitcoin (BTC) has not capitulated yet. For those that are wondering what this means for the price, it would be a good idea to look at what happened the last time BTC/USD capitulated. The daily chart for BTC/USD shows how the price has so beautifully been following the same cycle as last time and is currently in the third phase. It is about to enter the fourth phase which is the capitulation phase but this time, we are not looking at a simple decline followed by an uptrend. We are looking at a major correction after the double top that...

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Sally Ho's Technical Analysis 4 January 2020 BTC ETH

Bitcoin (BTC/USD) faded early in today’s Asian session as the pair pared back to the 7259.00 level after trading as high as the 7401.20 area during yesterday’s North American session.  Earlier, the pair was trading around the 6841.36 level, representing the 76.4% retracement of the move from 4670.69 to 13868.44.    The pair has been confined to a relatively narrow range for several weeks as traders have generally kept the pair between the 6430 and 7870 levels.  Prior to this range beginning in late November, BTC/USD had generally been a one-way trade since late-October when the pair peaked around the 10540.49...

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Ethereum (ETH) Still Likely To Decline To $100 During The Next Downtrend

Ethereum (ETH) saw life pumped into it just before the strong probability of another decline when the price faced a clear rejection at the key resistance level of $134. It has yet to breach that level and we can see that it is still lagging behind Bitcoin (BTC) which increases the odds of the recent pump being just that. We have seen such pumps lead to sharp declines before and if recent history is any indication, we can expect ETH/USD to begin a sharp downtrend now that it has once again faced rejection at a key trend line resistance.  The...

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