Hot Topics

Advertisement

Advertisement

Bitcoin Could Turn Bullish Near Term

Bitcoin bulls have yet to back down. We can see on the 4H chart for BTC/USD that the price is holding strong above $7,000. This is a level that has not been breached despite numerous attempts in the recent past. It appears that BTC/USD might yet see some bullishness short term before the major downtrend kicks in. If the falling wedge plays out and the price breaks to the upside, this would be more than mere short-term bullishness. In fact, it could lead to a major pump that would obliterate the bears and encourage retail bulls to be more optimistic...

Read More

Why Bitcoin (BTC) Might Take Retail Bears By Surprise

Bitcoin (BTC) bulls are not backing down just yet. In fact, to the very contrary they might enjoy another wave of optimism as the price takes retail bears by surprise. So far, we can see BTC/USD trading close to the bottom of the falling wedge with the potential to fall further but the large falling wedge that we see on the 1H chart is also quite likely to come to fruition sooner rather than later. In case of a successful breakout, we might be looking at a near term price target of $7,214. It could get extended well beyond that...

Read More

Sally Ho's Technical Analysis 16 December 2019 BTC ETH

Bitcoin Bitcoin (BTC/USD) weakened early in today’s Asian session as the pair traded as low as the 7052.66 area following a steady decline from the 7220.01 area during Sunday’s European session.  Bearish sentiment intensified over the weekend as renewed selling pressure emerged and pushed the pair below some technical Support levels.  Bids around the 7223.25 level ceded ground to BTC/USD Bears again, knocking the pair lower to just above the psychologically-important 7000 figure.  During the push lower, selling pressure also became elevated after Stops were elected below the 7084.98 area, representing the 23.6% retracement of the move from 19891.99 to...

Read More

Can Ethereum (ETH) Still Rally Towards $147.65 Despite Recent Bearishness?

Ethereum (ETH) declined sharply down to the 61.8% fib level but it ended up falling much further. Just when everyone expected it to decline further a few hidden buy orders worth millions of dollars saved the market again and we saw ETH/USD bounce strongly following the lead of Bitcoin (BTC). We now have a situation where the price is trading within a symmetrical triangle, it has tested the bottom of it and we now have to wait and see what happens next. The most probable scenario is that we might see the price rally higher to test the top of...

Read More

Sally Ho's Technical Analysis 15 December 2019 BTC ETH

Bitcoin Bitcoin (BTC/USD) weakened early in today’s Asian session as the pair fell to the 7006.01 area after trading as high as the 7264.33 level during yesterday’s European session.  Traders are awaiting the next major cues from market developments to adjust their market biases.  The market has recently traded around the 7084.98 area, a very important technical area that represents the 23.6% retracement of the move from 19891.99 to 3128.89.  Traders were able to elect Stops below this level during yesterday’s North American session and the pair moved to the 7008.03 area in short order.  Stops were also hit below...

Read More