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Ethereum (ETH) Bulls Keep Ceding Ground, Price Remains Highly Vulnerable

Ethereum (ETH) bulls keep ceding ground. Now that the price has declined below the $150 mark, it seems unlikely that it will break past it anytime soon. The price keeps on losing ground printing lower highs and lower lows. The rising wedge on the 4H chart for ETH/USD has now been broken to the downside and the price has faced a rejection at the trend line resistance. Even if we see a near term move to the upside, Ethereum (ETH) will face rejection at the $147.65 level which is a very strong resistance. So, ETH/USD is expected to keep on...

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EUR/USD Triple Top Hints At Steady Decline In Bitcoin (BTC)

The EUR/USD forex pair rallied aggressively yesterday amid the uncertainty surrounding the UK election. We have Boris Johnson back in the office which is good for business and certainty in financial markets. Most markets will therefore go back to doing what they were supposed to do. This rally in EUR/USD is likely to be reversed now that it has formed a triple top. We have been discussing the probability of this triple top weeks before it happened. Although it did not have much of an impact on Bitcoin (BTC) recently when it rallied, it is still likely to have an...

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Sally Ho's Technical Analysis 13 December 2019 BTC ETH

Bitcoin Bitcoin (BTC/USD) came off early in today’s Asian session as the pair depreciated to the 7183.29 area after peaking around the 7249.99 level late in yesterday’s North American session.  The pair had steadily appreciated since yesterday’s Asian session when the pair had traded as low as the 7075.01 area.   Traders continue to encounter selling pressure when price activity rapidly moves higher with very little follow-on buying giving way to selling pressure that once again has traders eyeing the psychologically-important 7000 figure.  This has been seen at least twice this month, including when the pair rocketed to the 7775.00 area...

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Ethereum (ETH) Likely To Retest $147.65 Before Next Major Decline

Ethereum (ETH) has found near term support on the 61.8% fib level and has now bounced strongly from there. There is a strong probability that this rally might lead to a retest of the $147.65 level before the next major decline. The bulls seem quite optimistic with price targets of higher than $150 at this point. This is not surprising considering the last time the market crashed to form a double bottom, Bitcoin (BTC) actually plunged below its previous lows but Ethereum (ETH) held its ground and did not fall below previous lows. While we do believe that this correction...

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How Will Bitcoin React To UK Election 2019?

The EUR/USD forex pair has once again rallied past the 1.0762 resistance turned support. It is now trading well above the 38.2% fib level and eyes the 1.11782 level to potentially make a triple top. So far, this has not had any impact on the cryptocurrency market. This wild move in EUR/USD seems to be a result of speculation surrounding one of the most important UK elections in decades. The outcome of this result will strong impact stock and currency markets across the globe. For now, the probability of something unexpected seems low as the Conservative party is still in...

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