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What Is Bitcoin (BTC)’s Next Move?

Bitcoin (BTC) has found support on the 1.27 fib extension level from the recent top formed at the top of the descending channel. It declined briefly below the descending channel but to an important trend line support which it has now found support on. The 4H chart for BTC/USD shows that this trend line could prove instrumental in helping the price rally towards the 61.8% fib retracement level from the local top. If that happens, we could see the price shoot towards $8,700 in the weeks to come. This move is likely to take around three weeks to come to...

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Sally Ho's Technical Analysis 25 November 2019

Bitcoin Bitcoin (BTC/USD) moved lower early in today’s Asian session as the pair sank to the 6804.00 level late in yesterday’s North American session following steady selling pressure from the 7361.41 level during Saturday’s North American session.  The pair’s recent downward range expansion has shifted focus to some longer-term price ranges and related retracement levels that could soon become more relevant given the ongoing deterioration in market sentiment.  After the market moved below the 7427 and 7296 areas and traders had Stops elected below the 6899 area, focus has shifted on downside market levels that have now come into view...

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Can Bitcoin (BTC) Decline Straight To $6,000 And Lower?

Bitcoin (BTC) has not seen any attempts to rescue the price so far. We have seen the occasional liquidity pumps here and there but not a sustained from the recent lows. This has now put the price at risk of further decline within the descending channel before any short term trend reversal. The 4H chart for BTC/USD shows that we could still see another crash similar to the one before which would bring the price down right to the bottom of the descending channel. It is pertinent to note that the vast majority of traders are still too optimistic and...

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Sally Ho's Technical Analysis 24 November 2019

Bitcoin Bitcoin (BTC/USD) weakened early in today’s Asian session as the pair traded as low as the 7233.31 area after peaking around the 7361.41 area during yesterday’s North American session.  Traders are still talking about Friday’s move that pushed the pair to the 6775.47 area, its lowest print since May, after Stops were elected below the 6899 area.  A series of very large Stops were elected following the pair’s peak around the 9150.00 area a couple of weeks ago, below levels including the 8927, 7806, 7712, 7537, and 7427 areas.  Following the recent move below the 7296.44 area, the 7084.98...

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Why Bitcoin (BTC) Could Fall Further Before A Temporary Bullish Reversal

Bitcoin (BTC) has had a brutal decline but just because things are bad does not mean they couldn’t get worse especially if there are some strong indicators that suggest that. If we look at the 4H chart for EUR/USD, we can see that the forex pair ended up closing well below the 38.2% fib extension level. A crash in this pair is what accelerated the crash in Bitcoin (BTC). We have been discussing for the past few months how this pair has been an effective leading indicator for BTC/USD. This time, there is little left to speculation as the pair...

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