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Bitcoin (BTC) More Likely Than Before To Test $8,000 Before Next Decline

Bitcoin (BTC) is more likely than before to test the $8,000 mark for a number of reasons. First of all, the price is still holding up quite strongly above the $7,257 support. This has now increased the probability of a rally higher to the 38.2% fib extension level. It could face resistance there but that move is more likely to lead to further upside as we would have to see a test of the previously broken trend line support which has now turned into a trend line resistance. Barring a decline below the current support, BTC/USD is poised to rally...

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Sally Ho's Technical Analysis 3 December 2019 BTC ETH

Bitcoin Bitcoin (BTC/USD) moved higher early in today’s Asian session as traders lifted the pair to the 7412.85 area after trading as low as the 7157.33 area during yesterday’s European session.  The market has recently given back some of the gains it scored last week when the pair escalated from the 6526.00 area to the 7870.10 level.  A couple of good relative measures of the pair’s ongoing weakness include the 7568.81 and 7473.42 areas, both of which represent 23.6% depreciations from recent relative highs including the 10944.67 and 10540.49 levels.  During Friday’s North American session, BTC/USD came close to testing...

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Ethereum (ETH) Ready To Make Fresh Gains After Recent Correction

Ethereum (ETH) declined once again to the 38.2% fib extension level and has now formed a double top there. This has increased the probability of a move to the upside from here which might see the price rise all the way towards $170. We can expect ETH/USD to test the 200 moving average on the 4H time frame if it ends up rallying higher from here. If it declines below the 38.2%, then we can expect it to decline down to the 61.8% fib level at $141.3. However, there is a strong support at $144 which corresponds to the 50%...

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Bitcoin (BTC) Expected To Rally Further

Bitcoin (BTC) has undone its move that it made on the weekend and the price is back where it was. We called this move in our Sunday’s analysis as the most probable scenario and it has now played out successfully. The question now is, “where is Bitcoin going next from here?” So far, the price is holding strongly above the $7,243 support. However, it remains vulnerable as it could decline within the falling wedge soon as this support is breached and the price starts moving down. As long as the price remains above this support, the bulls do not have...

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EUR/USD Forex Pair Outlines What Lies Ahead For Bitcoin (BTC)

The Euro recent made a double bottom against the US Dollar which has now increased the probability of a move to the upside. However, as we can see on the 4H chart for EUR/USD, the pair is also trading within a descending triangle which could be broken to the downside. Descending triangles have a history of leading to further downside and if it happens in this case, we might see a decline below the 61.8% fib extension level which would be a very bearish development for BTC/USD. However, until that happens, there is the strong probability of a move towards...

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