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Sally Ho's Technical Analysis 9 December 2019 BTC ETH

Bitcoin Bitcoin (BTC/USD) weakened early in today’s Asian session as the pair fell to the 7518.38 level after trading as high as the 7580.84 level during yesterday’s North American session. Market sentiment appears to be at least marginally shifting in favour of BTC/USD Bulls following the pair’s recent moves above the 7552.89 area, a level that represents the 23.6% retracement of the 6526.00 – 7870.10 area.  Technicians are curious to see if the pair can remain above the 7473.42 area, a level that represents the 23.6% retracement of the 10540.49 – 6526.00 range.  Additional similar important retracement levels related to...

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Ethereum (ETH) Primed For Further Gains In The Near Future But Threats Loom Over

Ethereum (ETH) is primed for further gains soon as we have a break out of the symmetrical triangle that it is trading in. The 4H chart for ETH/USD shows the price trading near the top of the triangle just below the 50 EMA. If it succeeds in breaking out, we might be looking at a retest of the 200 moving average which could push the price close to $170 where it might face some temporary resistance. Over the past few days, Ethereum (ETH) has been preparing itself for a breakout although it seems to have practically done nothing. The RSI...

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Sally Ho's Technical Analysis 8 December 2019 BTC ETH

Bitcoin Bitcoin (BTC/USD) weakened early in today’s Asian session as the pair slid to the 7453.38 area after steadily declining from the 7643.00 level during yesterday’s Asian session. Traders continue to observe the market’s attempts to keep BTC/USD trading above the 7039.45 area, a level that represents the 61.8% retracement of the 6256.00 – 7870.10 range.  The pair has recently traded above and below the 7198.05 area, representing the 50% retracement of the same range.  If traders are able to resume some of the upside buying pressure, the 7552.89 area could come into focus again, representing the 23.6% retracement of...

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How Much Room Does Ethereum (ETH) Have To Rally Further?

Ethereum (ETH) remains in a steady downtrend. The 4H chart for ETH/USD shows the price trading within a descending channel since the beginning of July. However, we have seen short lived bullish rallies along the way because nothing just keeps on rising or falling in a straight line. The price is now at a point where similar bullishness can be expected. However, what most traders want to know is how much room the price has to rally further. If we zoom in on the recent price action, we can see that it has been a reflection of what has been...

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Bitcoin (BTC) Rallies Further Inside The Ascending Triangle But Remains Vulnerable

Bitcoin (BTC) is trading within an ascending triangle have just broken out of a falling wedge. There is now a strong probability of the price eventually breaking out of this ascending triangle to test the 200 MA on the 4H chart for BTC/USD. This retest would be a healthy development for the market and we would finally have a definitive direction for the price after a retest of the 200 MA. If BTC/USD breaks past it, we can expect a rally higher to test the previously broken market structure. However, if it faces a rejection, we can expect it to...

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