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Bitcoin Bulls Remain Hopeful

The near-term outlook of Bitcoin remains as confusing as it did for the last 24 hours. Traders still have no idea which way the price is going to swing next. However, the direction in which the price has been manipulated gives us meaningful insights as to what might happen next. We have recently seen the market makers try to inject fear in the market with wild moves around key turning points. As aggressive as those moves seemed, they have been mostly inconsequential as their sole purpose has been shaking out retail bulls, encouraging retail bears and discouraging the bulls from...

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Why Bitcoin (BTC) Is Very Likely To Test $8,000 This Week

Bitcoin (BTC) is very likely to test $8,000 this week now that the EUR/USD fore pair has climbed above the 38.2% fib extension level and is hinting at the possibility of a triple top. The pair has closed two candles above the 200 moving average now on the 4H time frame which means that it is all set to rally higher in the ascending wedge that it is trading in. This wedge extends all the way to the previous top which means that EUR/USD might end up making that triple top with the cryptocurrency market following suit and rallying hard...

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Sally Ho's Technical Analysis 10 December 2019 BTC ETH

Bitcoin Bitcoin (BTC/USD) gained ground early in today’s Asian session as the the pair was lifted to the 7345.00 level after trading as low as the 7262.87 area during yesterday’s North American session.  The pair spiked to the 7659.38 level earlier in yesterday’s North American session and evidenced a lot of volatility.  Some traders are increasingly repricing their portfolios to reflect improving market sentiment and at least a slightly stronger upward bias. This has become evident by BTC/USD’s recent gyrations above the 7552.89 level, an area that represents the 23.6% retracement of the 6526.00 – 7870.10 area.  One clue that...

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Ethereum (ETH) All Set For An Explosive Breakout Ahead

Ethereum (ETH) is all set for a major breakout in the next 24 hours. We could see sideways movement stall this breakout for a day or two but it is going to happen this week. The current outlook remains bullish and a rally towards the 200 moving average on the 4H time frame is highly probable. In case of a successful breakout, we might be looking at a near term target of $154 followed by a rally to $162. The price will face minor resistance at $162 as it is not a strong resistance which means that it could then...

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Bitcoin (BTC) On The Verge Of A Big Breakout?

Most new traders often assume that we cannot time the market. That might be true to some extent but it can be quite misleading. Professional traders have been timing the market for years to ascertain when would be a good time to enter or exit a trade. While it may not work all the time, it does provide traders useful insights as to what to expect next. In the case of Bitcoin (BTC), we can see how the fib time tool on the 4H chart for BTC/USD tells us that a breakout is around the corner. Even if we remove...

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