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Sally Ho's Technical Analysis 23 November 2019

Bitcoin Bitcoin (BTC/USD) faded lower early in today’s Asian session as the pair briefly recovered to the 7392.11 level after trading as low as the 6775.47 area during yesterday’s North American session.  The Stops that were elected below the 8289 and 7594 areas earlier this week opened up the 6899 area as an important technical level, and Stops were triggered below this area during yesterday’s trading activity, driving the pair to its lowest level since May.  Thursday’s move lower was somewhat abrupt as the 8062.04 area that had been technical Support gave way and that led to Stops being elected...

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Ethereum (ETH) Uptrend Against Bitcoin (BTC) Remains Intact

Ethereum (ETH) remains in an uptrend against Bitcoin (BTC) despite recent bearish developments. We have now see ETH/BTC decline to a key trend line support on the 4H time frame. This is now a point where we could expect further upside as the price is already trading above the key 38.2% fib extension level. Ethereum (ETH) like other altcoins recently broke past key resistance levels against Bitcoin (BTC) but just before it could go much higher the market started to take a turn for the downside. Considering that ETH/BTC is still trading above the 200 EMA on the 4H time...

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Bitcoin (BTC) Correction Over For Now?

Bitcoin has inflicted some serious pain on the bulls in the past few weeks. Since last Friday, 547.5 million shorts have now been liquidated and a lot more might yet be liquidated. The bulls have been drawing trend lines on their charts hoping for the price to rally at every point but it is a very dangerous game to be hoping and wishing in this market. We have now seen that the recent correction has almost come to completion. The BTC/USD chart shows that the price has declined down to the 61.8% fib extension level. It would be very surprising...

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Bitcoin (BTC): Will This Time Be Different?

Bitcoin (BTC) has had one of its most brutal weeks in a long time. We have now seen a series of red weeks for BTC/USD but now it is at a critical juncture. The price has just declined down to the 100 Week EMA which takes us back to the same time of the year last year. Bitcoin (BTC) did the exact same thing on Nov 12, 2018 as it crashed down to the 100 Week EMA. However, back then it ended up closing below that level which was then followed by an even brutal decline leading to the December,...

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Sally Ho's Technical Analysis 22 November 2019

Bitcoin Bitcoin (BTC/USD) was a little stronger early in today’s Asian session after the pair traded as low as the 7374.50 area during yesterday’s North American session.  Stops were elected below the 7427.00 area during the pair’s move to November monthly lows.  Traders continue to observe the pair trading between some important long-term technical levels, namely the 8498.67 and 7231.40 areas which represent the 50% and 61.8% retracements of the move from 3128.89 to 13868.44.  A break of the 7231.40 area technically opens up the 5663.42 area, representing the 76.4% retracement of the same range. Likewise, a break of the...

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