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EUR/USD Forex Pair Indicates When Bitcoin (BTC) Could Make Its Next Move

The EUR/USD forex pair has historically had a strong impact on the price of Bitcoin (BTC). In fact, the recent market crash had a lot to do with a decline in this pair. Now that we have seen the pair decline down to the 61.8% fib extension level, it has room to rally sideways before the next big move. It is not clear yet which way the pair will swing after that but there is a strong probability of a break below the 61.8% fib extension level if the price ends up breaking below the symmetrical triangle. Regardless of which...

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Sally Ho's Technical Analysis 27 November 2019

Bitcoin Bitcoin (BTC/USD) appreciated  early in today’s Asian session as the pair climbed to the 7189.99 area after trading as low as the 7021.84 area during yesterday’s North American session.  The pair’s ongoing weakness has not yet abated, leading to intense market speculation that traders may not yet be finished with pushing BTC/USD lower. Chartists are observing that even after Monday’s rapid move higher from multi-month lows, the pair is still trading below the 7473.42 area, representing the 23.6% retracement of the move from 10540.49 to 6526.00.  The next upside price retracement level related to that range is 8059.54, representing...

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Can Litecoin (LTC) Survive The Next Crash?

Litecoin (LTC) is once again at risk of massive sell off. During a market meltdown, coins that have little to no use case of their own are at much higher risk because not only do they risk a loss in value but they risk abandonment. During the 2018 crash, we saw the core Etheruem Classic (ETC) development team that had been working on the cryptocurrency from the very beginning finally abandoned the project citing financial difficulties. The daily chart for LTCUSD/BTCUSD shows that the ratio has once again declined below a key support. In fact, this time it risks a...

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Why Bitcoin (BTC) Can Fall Below $3,000

Bitcoin continues to trade above $7,000 for now despite the recent bearishness in the market. Investors are still wondering where the floor is. We have seen the price crash massively in the past few days but any bullish reversal has yet to be seen. The price is trading at the bottom of a descending channel that was briefly breached but the price soon bounced back above the trend line support. Now that BTC/USD has closed below the 100 Week EMA, there is a risk of the price declining below the descending channel without seeing any significant upside short term.  The...

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Volatility Index (VIX) Hints At Next Big Move In Bitcoin (BTC)

The Volatility Index (VIX) has historically been a good indicator of big moves in the cryptocurrency market. The daily chart for the index shows that around the last three major peaks, we have seen big moves in Bitcoin (BTC) mostly trend reversals. It has now declined down to a level where another peak could soon be expected. This time, it is likely to correspond to a sharp decline in the cryptocurrency market. Bitcoin (BTC) has been attempting to break past the 5 day exponential moving average but so far it has failed. The price remains at risk of further downside...

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