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Sally Ho's Technical Analysis 7 January 2020 BTC ETH

Bitcoin (BTC/USD) extended its recent gains early in today’s Asian session as the pair climbed to 7577.00 area after trading as high as the 7615.68 area during yesterday’s North American session.  Earlier, buying demand emerged around the 7312.22 level during yesterday’s Asian session.  During the past three weeks, the pair has orbited the 7343.17 level, representing the 61.8% retracement of the 9948.12 – 3128.89 range.  The pair’s recent inability to make a sustained break above the 7473.42 area, representing the 23.6% retracement of the 10540.49 – 6526.00 range, means BTC/USD Bears remain in charge.  The pair’s long-term bias remains negative,...

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Ethereum (ETH) Gains Ground Against Bitcoin (BTC) But Upside Remains Limited 

Ethereum (ETH) has gained some ground against Bitcoin (BTC) which was long overdue after weeks of downside. However, we can see on the daily chart for ETH/BTC chart that the pair is about to run into the 50-day moving average which will not be easy to effectively breach. The symmetrical triangle that the pair is trading in will soon be broken and it appears that it will be broken to the downside considering the price has been falling when it entered the symmetrical triangle. Furthermore, the RSI and Stoch indicators indicate the pair has run its course for now and...

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Why The Next Bitcoin Crash Will Be Huge

Bitcoin has shown no signs of a slowdown just yet after the recent rally that followed a bullish close above the 100-week exponential moving average for the sixth consecutive week. This will be another interesting year for Bitcoin (BTC). We can see on the daily time frame that BTC/USD has run into the 50 Day EMA and faced a rejection but it could still climb back above it or even close above it. If we look at the previous cycle and how the price traded before a major capitulation phase, we can see that it exhibited similar behavior. We saw...

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Bitcoin (BTC) Dominance Yet To Break Past 70% But Market Outlook Remains Gloomy 

Bitcoin dominance (BTC.D) has once again fallen short of breaking past the key 70% level. This is what stands between Bitcoin (BTC) and the beginning of the next crash. The reason we expect it to coincide with the next crash is because Bitcoin dominance (BTC.D) rises mostly during periods of a downtrend when the altcoin market is falling harder compared to Bitcoin (BTC) thus leading to a higher Bitcoin dominance (BTC.D). Recently, we have seen a drop in dominance percentage but this is still not good news for the market because we have yet to see a break below the...

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Sally Ho's Technical Analysis 6 January 2020 BTC ETH

Bitcoin (BTC/USD) was marginally weaker early in today’s Asian session as the pair traded as low as the 7434.56 area after trading as high as the 7488.87 level during yesterday’s North American session.  Traders have experienced some volatility early in the new year following the pair’s rapid ascent late last week from just above the technically-significant 6841.36 area to the 7401.20 level before some gains were pared.  BTC/USD buyers ran into a wall of Offers just above the 7391.87 area, representing the 23.6% retracement of the move from 6430.00 to 7688.99.  One key level that traders continue to monitor is...

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