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Ethereum (ETH) Remains A Sell Below $150, Odds Of A Bullish Reversal Very Low

Ethereum (ETH) has shown signs of extreme weakness. The near-term bullish outlook is now dead in the water as the price has declined sharply below the $148.95 support. This is a level that the price has tested as support and resistance multiple times. The fact that ETH/USD has declined not only below this level but also below the 38.2% tells us that a big move to the downside might be just around the corner. We have seen that ETH/USD did not fall much lower than the previous lows compared to Bitcoin (BTC) during the last such decline. RSI on the...

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Why Bitcoin Is Not Bullish Anymore

The recent bullish outlook of the cryptocurrency market has changed as the EUR/USD forex pair now no longer supports near-term bullishness in this market. Even though the forex pair demonstrated sufficient strength yesterday, it ended up losing much of its gain as the bulls lost momentum and the pair declined which could now possibly lead to a similar downtrend that came into effect after November 21, 2019. The changing outlook has now convinced us to be no longer bullish on the market until we have a decisive break past the 1.0772 level in EUR/USD. We have seen how a decline...

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EUR/USD Near Term Outlook No Longer Supports Rally In Bitcoin (BTC)

The near-term outlook of the EUR/USD forex pair no longer supports a rally in BTC/USD. The 4H chart shows that the pair has already shown signs of extreme weakness and could print a similar fractal as it did after it last formed a double top and then declined below the 38.2% fib level. This time, it will first have to break below the 1.0772 support in order to decline further. We could see the pair see some short-term upside to stall a move much lower as the pair breaks out of the rising wedge. However, it cannot stall the inevitable...

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Sally Ho's Technical Analysis 11 December 2019 BTC ETH

Bitcoin Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair was lifted to the 7250.00 area after trading as low as the 7156.03 area during yesterday’s North American session.  The pair had spiked higher to the 7659.38 area during Monday’s North American session before coming off and trading as high as the 7398.00 area during yesterday’s Asian session.  In recent days, the pair has oscillated around some key technical trading levels including the 7552.89 and 7356.65 areas, representing the 23.6% and 38.2% retracements of the recent move from 6526.00 to 7870.10.  Another very important level is the 7568.81...

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Ethereum (ETH) Bulls Remain Hopeful Despite Recent Price Manipulation

Ethereum (ETH) bulls are hopeful of rally towards $150 despite the recent manipulation in the market. The $150 mark is where most traders expected ETH/USD to consolidate above. It is also a strong psychological support which explains why the price declined hard when it broke below it. There is no doubt that retail buying or selling has little to do with any of that. For the past few weeks, we have seen most such moves orchestrated by a few big players that swing the price to both sides to shake out both the greedy bulls and the bears. While this...

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