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Sally Ho's Technical Analysis 28 December 2019 BTC ETH

Bitcoin (BTC/USD) gained ground early in today’s Asian session as the pair climbed higher to the 7319.00 level after buying pressure emerged around the 7053.32 area during yesterday’s European session.  There has been some renewed market weakness below the 7208.06 area during recent trading sessions and this is significant because that level represents the 38.2% retracement of the move from 6430.00 to 7688.99.  Traders are therefore interested to see if BTC/USD can sustain the break above this level. The next downside retracement level in this range is the 7059.50 area, representing a 50% pullback, and below that area traders are...

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Bitcoin (BTC) Primed For A Big Crash In 2020

Bitcoin made an impressive move to be upside once again yesterday but we saw that it was short-lived and the price started to crash soon after. We are now seeing BTC/USD struggling to break past the 61.8% fib level at $7,162 but it seems to be having a really hard time doing that and if the price keeps on trading below this level then the probability of a fall below $7,000 or eventually lower than that would increase drastically. However, at this point a lot of traders are expecting the price to decline further because there is obvious weakness in...

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Bitcoin (BTC) Could See Another Liquidity Hunt Before The Big Crash

Bitcoin (BTC) has been trading sideways for a while but yesterday it made a big move to the upside that stopped out most retail traders looking to ride the price down. This move pushed the price past the $7.4k level but it was soon followed by a red candle that effectively erased that entire move. We have discussed this in our analyses before that such liquidity hunts may continue to occur in the future and why traders need not to get too excited about them until there is follow through. The recent dead cat bounce is a perfect example of...

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Sally Ho's Technical Analysis 27 December 2019 BTC ETH

Bitcoin (BTC/USD) broke above its recent sideways trading pattern early in today’s Asian session as the pair climbed to the 7336.44 level following a Bullish move by the 50-bar MA (4-hourly) above the 100-bar MA (4-hourly).  The 7208.06 level is technically significant and one that price activity has continued to orbit, as it represents the 38.2% retracement of the recent move from 6430.00 to 7688.99.  The market briefly traded above the 7391.87 area earlier this week, a level that represents the 23.6% retracement of that range, but could not sustain the break above and quickly headed lower.  Below current market...

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Sally Ho's Technical Analysis 26 December 2019 BTC ETH

Bitcoin (BTC/USD) extended its recent sideways trading pattern early in today’s Asian session as the pair continued to trade between or near the 100-bar MA (4-hourly) and 200-bar MA (4-hourly).  The pair has failed to sustain several tests of the 7473.42 area, a level that represents the 23.6% retracement of the 10540.49 – 6526.00 range. This lack of follow-through buying above this area has resulted in continued Bearish sentiment that again recently saw the pair sink below the 7198.05 level, another important short-term area that represents the 50% retracement of the move from 6526.00 to 7870.10.  On a positive note,...

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