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How To Trade Bitcoin (BTC) From This Point Forward

The cryptocurrency market remains in a downtrend. It has now become increasingly clear that BTC/USD might end up testing at least $6,000 if not lower. The reason I say $6,000 is because it is a strong psychological support. When the price shot up past that level after it made a temporary bottom at $3,132 it was perceived as the beginning of a new bull run by the vast majority of traders in this market. Even though it does not appear to be as convincing as before to most of those traders, they are still counting on it to hold if...

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Sally Ho's Technical Analysis 21 December 2019 BTC ETH

Bitcoin Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair climbed to the 7207.35 area, a steady improvement from a low of 7073.66 during yesterday’s Asian session.  The pair continues to orbit the 7084.98 area, representing the 23.6% retracement of the 19891.99 – 3129.89 range. Also, price activity has recently traded around and between the 50-bar MA (4-hourly) and 100-bar MA (4-hourly).  Chartists note that the 50-bar MA (hourly) just Bullishly crossed above the 100-bar MA (hourly) and 200-bar MA (hourly), a development that may coincide with additional price appreciation.  Another level that has recently been toppish for...

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Ethereum (ETH) Bulls Are Beginning To Lose Hope

Ethereum (ETH) bulls are beginning to lose hope. The price has been trading between $128 and $124 for a while which has disheartened retail bulls and for good reason. Every time we see the price decline, when it is followed by a quick bounce to the upside and a steady uptrend, there is hope. However, if it keeps going sideways, then it increases the probability of another decline. RSI for ETH/USD on the 4H time frame shows that there may be some room for limited upside. However, that is nothing much to be excited about because it would be just...

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Bitcoin (BTC) Traders Divided About The Next Big Move

Bitcoin (BTC) traders are once again heavily divided as to the direction of the next big move. The $7,131 level as we can see on the 15 min chart for BTC/USD is going to be of extreme significance in the near future. So far, the price has found support on it which is a bullish development but we have yet to see a breakout. If that breakout is to the upside, we can expect a move towards the $8,000 mark. However, if that move is to the downside, we could see Bitcoin (BTC) take out the previous lows and decline...

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What Happens To Bitcoin (BTC) If EUR/USD Declines Long Term?

Bitcoin (BTC) has once again climbed back above not just $7,000 but the key resistance at $7,131 which now seems to have become a temporary support. We have yet to see how the price reacts at this level but any move to the upside from here is very likely to be short-lived. The major trend remains bearish and that is where our focus should be. Many traders now seem convinced that BTC/USD has to decline at least down to $5,500 or the 200 Week MA before any further upside. To this extent there does not seem to be any divide...

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