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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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Sally Ho's Technical Analysis 25 December 2019 BTC ETH

Bitcoin (BTC/USD) found some buying activity early in today’s Asian session as the pair continued to orbit the 7343.17 level, representing the 61.8% retracement of the move from 9948.12 to 3128.89.  Traders lifted the pair higher from the 7220.31 area during yesterday’s Asian session, a level that is just below the 61.8% retracement of the move from 3128.89 to 13868.44.   BTC/USD Bulls continue to add long positions above the 200-bar MA (4-hourly) and have been able to keep the pair Bid above the 50-bar MA (4-hourly) during the past several trading sessions. Notably, BTC/ USD tested another very important level...

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Is Ethereum (ETH) About To Make A Big Move Against Bitcoin (BTC)?

Ethereum (ETH) is about to make a decisive move against Bitcoin (BTC). The 4H chart for ETH/BTC shows the price trading within a large symmetrical triangle. Either it will break below it and resume its downtrend or we might see a move to the upside to potentially test the 0.0197 BTC level and possibly a retest of the top of the triangle. The probability of that happening remains low at the moment but considering that there is extreme fear in the market, we wouldn’t discount a potential bullish move to the upside to make retail bulls greedy once again before...

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How The Chinese Yuan (CNY) Could Shape The Direction Of Bitcoin (BTC)

Bitcoin (BTC) has been influenced by movements in major financial markets throughout its trading history. Forex pairs like CNY/USD and EUR/USD have had a major impact on the price of Bitcoin (BTC) and its direction. Before last year’s capitulation, we saw a major downtrend in USD/CNY which accelerated Bitcoin (BTC)’s decline below $6,000. The simple explanation for why that happened was the fact that major Chinese investors or whales were more comfortable cashing out into Chinese Yuan (CNY) at that point as the US Dollar (USD) was declining against it. It is always easier to cash out in a local...

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