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Bitcoin (BTC) Price Action Remains Puzzling

Bitcoin is on the verge of a major decline but it was here before and the downtrend was delayed. Now that we are close to the beginning of a major downtrend, we are seeing similar manipulation as before. The market makers and the whales have become too comfortable playing these games in the absence of regulation. If anybody complains, they will just chalk it up to volatility and indecisiveness. If this was happening in the stock market, it would be a whole different story. Anyway, the BTC/USD price action remains marred by confusion. We do not have a clear direction...

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Bitcoin (BTC) Manipulation Continues To Confuse Traders Before The Big Move

After the manipulation that resulted in a 43% pump in two days when hundreds of millions of shorts were liquidated, the market makers and whales have become quite comfortable playing these games over and over. Why? There are no consequences! In the absence of regulation the big players keep manipulating the market in ways that I have not seen even in the penny stocks market. Even if regulators were to come down to investigate, they would pay a small fine and it will all be forgotten. The point is, when the stakes are this high; these games will continue to...

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Sally Ho's Technical Analysis 12 November 2019

Bitcoin Bitcoin (BTC/USD) depreciated early in today’s Asian session as the pair fell to the 8690.00 level after being capped around the 8787.86 level during yesterday’s North American session. The pair had previously tested the 8590.00 level.  The pair’s recent range expansion has some traders focusing on longer-term ranges and their impact on BTC/USD.  One level the pair had been orbiting before its recent down move was the 9301.26 area, representing the 38.2% retracement of the 7296.44 – 10540.49 range.  That area is also near another important retracement level, namely the 9269.57 level that represents the 50% retracement of the...

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Bears Be Careful, Ethereum (ETH) May Yet See Further Upside Against Bitcoin

Ethereum (ETH) is often the go to currency for futures traders because of larger moves and higher funding rates than Bitcoin (BTC). In other words, it pays better to be short on Ethereum (ETH) than on Bitcoin (BTC). However, it comes with its risks. As we have seen recently, BTC/USD has been trading sideways for the most part but not Ethereum (ETH). The 4H chart for ETH/BTC shows how Ethereum (ETH) has been in a constant uptrend against Bitcoin (BTC) in the recent past. The pair has now pierced through the 200 EMA and found support on the 38.2% fib...

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Bitcoin Manipulation May Not Be Over Yet

Bitcoin has seen some bearish moves in the recent past. The price declined below the 200 day moving average. This is a bearish development but it might take a while for the price to really begin that strong downtrend. We have seen BTC/USD test the top of the descending channel and it is now only a matter of time for it to decline to the bottom of the descending channel. Another possibility is that the price might end up breaking the descending channel to break to the upside and begin a new uptrend but if it was meant to happen,...

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