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Sally Ho's Technical Analysis 21 November 2019

Bitcoin Bitcoin (BTC/USD) was little-changed early in today’s Asian session as the pair traded around the 8094.11 level after trading as low as the 8030.05 area during yesterday’s European session. The pair continues to orbit the 8062.04 area, representing the 76.4% retracement of the move from 7296.44 to 10540.49.  Traders are waiting to see if the pair is able to reclaim the 8157.42 area, a level that represents the 23.6% retracement of the move from 10944.67 to 7296.44.   Above that area, the 8184.23 level represents another area of potential selling pressure, and the 61.8% retracement of the 4670.69 – 13868.44...

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Ethereum (ETH) Risks Further Decline Within Descending Broadening Wedge

Ethereum (ETH) risks further decline within the broadening wedge as the bulls fail to come to rescue. We have seen some bullish attempts but they have failed miserably and traders do not seem eager to buy the dip mostly because most of them are already deep into bullish positions from much higher levels. The recent crash inflicted some pain on the bulls but it is far from over just yet. If the market continues to decline and ETH/USD crashes down to $170, it could trigger a major stop hunt that could pull the price down to $144 or lower in...

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How Low Can Bitcoin Fall From Here?

Bitcoin has seen a change in outlook near term after our last analysis. The bulls failed to rescue the price as it kept on declining until it finally broke below a key support level. This has now increased the probability of further downside. We have seen previously that sharp declines have been followed by quick recovery when BTC/USD intended to rally higher. However, whenever a sharp decline was not followed by a quick recovery, we have often seen that the move is not complete and further downside is expected. In this case, BTC/USD failed to see a quick recovery and...

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Bitcoin (BTC) Bulls Fail To Come To Rescue, Price Eyes Further Downside

Bitcoin (BTC) has been a steady decline for the past few weeks but retail bulls have been constantly calling for a trend reversal. It started at the 38.2% fib extension level and then when BTC/USD declined to the 61.8%, retail traders still kept on hoping that the price would begin a rally towards $9,000. However, now that Bitcoin (BTC) has declined below the 61.8% fib extension level and keeps on printing lower highs and lower lows, most who are not trapped in bullish positions at this point would agree that it can go down at least to test the 38.2%...

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Sally Ho's Technical Analysis 20 November 2019

Litecoin Litecoin (LTC/USD) gained ground early in today’s Asian session as the pair escalated to the 56.12 area after trading as low as the 54.10 area during yesterday’s European session. Traders continue to have their eyes on the 59.84 level, representing the 38.2% retracement of the 80.26 – 47.22 range and an area that traders tested earlier this week. That level is also right around another important technical level that represents the 38.2% retracement of the more recent 66.19 – 56.09 range.  The pair’s recent spin lower opens up potential downside targets such as the 54.47 and 51.70 areas, representing...

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