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Bitcoin (BTC) Fails To Defend 200 Day Moving Average, Here’s What It Means

Bitcoin (BTC) fails to defend the 200 day moving average. This is a major development with serious implications. If we take a look at the daily chart for BTC/USD, we can see that the parabolic uptrend began when Bitcoin (BTC) first shot up above the 200 day moving average. In September, the price finally declined below the 200 day moving average but it shot back above it the next month. Now it has once again declined below it. BTC/USD has now closed below the 200 day moving average for the past few days and it does not seem to be...

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Sally Ho's Technical Analysis 11 November 2019

Bitcoin Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair was seen trading around the 9074.13 area after trading as high as the 9150.00 area during yesterday’s North American session. That high was right around both the 50-bar MA (4-hourly) and the 100-bar MA (4-hourly), which have just converged.  Prior to the move, the pair had been oscillating around the 8918.47 area, representing the 50% retracement of the 7296.44 – 10540.49 range.  Prior to Friday’s move lower that saw the pair trade as low as the 8660.00 area, the pair had traded above the important 8918.47 area following...

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Bitcoin (BTC) Death Cross Trap And The Road Ahead

Bitcoin (BTC) recently pumped 43% in two days just around a time when everyone was expecting a “death cross” to play out. The mistake that most retail traders make is that they are impatient. They enter trades without confirmation. When they saw a potential “death cross” in the making, many of them entered bearish trades and this became an opportunity for the market makers and the whales to liquidate them. In our analyses around the time, we warned that this might be more of a trap and less of a death cross. Even if it had been a death cross,...

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Sally Ho's Technical Analysis 10 November 2019

Bitcoin Bitcoin (BTC/USD) gained ground early in today’s Asian session as the pair traded as high as the 8832.19 area after finding bids around the 8719.52 area during yesterday’s North American session.  Traders continue to adjust to the risk of a weaker BTC/USD following its collapse below the 9000 figure during Friday’s European session.  Traders were unable to push the pair above the 50-bar MA (4-hourly) prior to the depreciation, and then sizable Stops were elected below the 100-bar MA (4-hourly) during the decline.  Traders lacked the conviction to test the 200-bar MA (4-hourly) during the move lower.  At the...

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How Low Could Bitcoin (BTC) Fall From Here?

Bitcoin (BTC) has shown obvious signs of weakness and it has repeatedly closed below the 200 EMA on the 4H time frame now. We have yet to see a close below the 21 Week EMA to have further confirmation that BTC/USD has indeed resumed its downtrend. The fractal we see in the making is a lot similar to the one that preceded it which led to a massive decline down to the bottom of the descending channel. If the same were to happen this time, then the price might plunge below $7,222 to test the bottom of the channel but...

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