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Bitcoin (BTC) Bulls Finally Take Control

Bitcoin dominance (BTC.D) has finally tested the 200 moving average on the 4H time frame. This has finally convinced me that the correction is over for now. The price might see further upside from here as high as $8,000 or in the case of another pump much higher. The 4H chart for BTC/USD shows how the price has been slowly declining in a systemic manner to lower levels. This slow bleed has a method to it and a way of keeping the bulls excited as the price gradually declines. We have now seen Bitcoin (BTC) break below key trend line...

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Bitcoin (BTC) Bulls Won’t Give Up Without Putting Up A Fight

Bitcoin (BTC) bulls charged aggressively yesterday and the price is currently trading well above the $7,000 mark. It is no longer a do or die situation for the bulls as they have assumed control for the foreseeable future. We can see the price trading within a falling wedge that may soon lead to further upside. It wouldn’t be surprising to see BTC/USD trade north of $8,000 if it ends up breaking out of this wedge. When the price declined down to the $6,587 mark, a lot of retail bears got overly excited and entered aggressive longs. Many of them were...

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Sally Ho's Technical Analysis 28 November 2019

Bitcoin Bitcoin (BTC/USD) appreciated  early in today’s Asian session as the pair moved back to the 7595.00 area after trading as high as the 7678.76 level in yesterday’s North American session.  Strong buying activity commenced during yesterday’s North American session after the pair remained above the 6810.00 level.  Bearish technical trading sentiment continues to impact the pair following its 38% peak-to-trough rout between October and November, a decline that became exacerbated during the last several days when the pair crashed through several key technical levels.  Those areas included the 8289, 7594, and 6899 areas and traders will be closely watching...

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Ethereum (ETH) Breaks Uptrend Against Bitcoin (BTC) But It’s Not Over Yet

Ethereum (ETH) has broken its month long uptrend against Bitcoin (BTC) which has now got the bulls worrying that this might be the end of the uptrend and Ethereum (ETH) could fall against Bitcoin (BTC) in the days ahead. While it is true that ETH/BTC is expected to decline a lot harder long term when the market begins its next downtrend, it is important to realize that there is still plenty of room for the market to rally near term. The 4H chart for ETH/BTC shows that even though the pair has broken below the trend line support, it has...

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Bitcoin Bulls Can Still Take Control

Bitcoin declined below $7,000 and it appears to be bearish on surface but I think the market could rally higher from here. The price has just found support on the 61.8% fib extension level and as we can see it has already started to move up. If BTC/USD ends up rallying higher from here, then the probability of a move towards higher levels in the near future would increase significantly. The recent crash is a lot similar to what we have seen before. The price crashed in one big candle which was then followed by a reversal attempt which failed...

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