Hot Topics

Advertisement

Advertisement

Bitcoin (BTC) Loses Bullish Momentum, Bears Ready To Take Over

Bitcoin (BTC) has finally entered bearish territory. The price has now closed below the 200 Day EMA for two consecutive days. It is very likely that we might see a sharp decline in BTC/USD from current levels in the days ahead. However, traders need to watch out for manipulation because we still see attempts to shake out the bears. In the past few days, we have seen numerous attempts to shake out the bears at key turning points. There is usually a big spike that ends up liquidating shorts which is then followed by a move to the downside. So,...

Read More

Sally Ho's Technical Analysis 16 November 2019

Bitcoin Bitcoin (BTC/USD) traded as low as the 8423.00 level early in today’s Asian session after traders pushed the pair as low as the 8361.00 area during yesterday’s North American session, its weakest print since 25 October.  Stops were elected below the 8535.67 area during the spin lower, representing the 61.8% retracement of the 7296.44 – 10540.49 range.  Market sentiment continues to steadily erode following the pair’s spike to the 10540.49 area on 26 October, with price activity having traded as low as the 8490.01 prior to the later decline. This is an important technical development because this level is...

Read More

Ethereum (ETH) Stands To Lose A Lot Against Bitcoin (BTC)

Ethereum (ETH) seems to have lost its bullish momentum against Bitcoin (BTC) and is now eyeing downside. If a downtrend does begin in the ETH/BTC pair, then Ethereum (ETH) has a lot to lose against Bitcoin (BTC). The daily chart for ETH/BTC shows what that really means. We are currently seeing the pair trade close to a key trend line resistance. If the pair fails to break past it, then it will have to decline to the trend line support which would be lower than the 141.8% fib extension level. This would be a very bearish development for Ethereum (ETH)...

Read More

Bitcoin Bulls Might Have Been Bluffing

Bitcoin (BTC) has finally closed below the 200 Day EMA. This is a very bearish development and has now changed the near term outlook from neutral to leaning bearish. The reason we are not bearish just yet is because we still need to see a close below the 61.8% fib extension level on the 4H time frame. Another consecutive close below the 200 Day EMA would also be helpful but it is likely that BTC/USD would be in a strong downtrend when that happens so it might be a bit too late. At this point, we have seen most bullish...

Read More

Bitcoin (BTC)’s Next Move Hinges On The Direction Of The EUR/USD Forex Pair

Bitcoin (BTC) is once again at a decision point and the bulls and the bears are both confused as to what that decision is going to be. We saw BTC/USD begin the day in red but it then made a big move to the upside which was similar to the manipulated moves we have seen recently. When the stakes are this high, such moves are to be expected. In the absence of real volume and trading interest in the market, most of the big players make their money playing such games. The recent move liquidated more than $40 million Bitcoin...

Read More