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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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Sally Ho's Technical Analysis 26 November 2019

Bitcoin Bitcoin (BTC/USD) moved higher early in today’s Asian session as the pair traded up around the 7169.02 area after trading as high as the 7379.99 area during yesterday’s North American session.  During yesterday’s Asian session, the pair traded as low as the 6526.00 area after tumbling through some key technical areas.  Market sentiment has deteriorated rapidly over the last several days, a development that intensified yesterday when traders pushed the pair below the 6653 level, a downside price objective that gave way and saw the pair fall to the 6526.00 area.  Stops were also elected below the 6857 and...

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