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Sally Ho's Technical Analysis 3 November 2019

Bitcoin Bitcoin (BTC/USD) drifted higher early in today’s Asian session as the pair traded as high as the 9363.82 area after being supported around the 9210.00 level during yesterday’s European session. The pair continues to seek market direction following its spike to the 10540 area on 26 October, a move that was abrupt and quickly saw BTC/USD settle back around the 8918.47 area, representing the 50% retracement of the 7296.44 – 10540.49 range.  Following that retracement, the pair has only once traded above the 9774.89 area, representing the 23.6% retracement of that range, and has generally orbited the 9301.26 area,...

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Why The Next Bitcoin (BTC) Crash Might Be Different Than Before

Bitcoin (BTC) pumped more than 43% in two days and that got a lot of retail bulls very excited. However, at the same time it made many traders very concerned because that was an unprecedented move not because of why it happened but how it happened. Just before that move happened, we expressed the strong probability of further upside in BTC/USD because it was long overdue. However, the manner in which the price pumped was an extreme case of manipulation which raises the question, “why were the big players so desperate to do this?” If we look at the price...

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Sally Ho's Technical Analysis 2 November 2019

Bitcoin Bitcoin (BTC/USD) appreciated to the 9296.98 level in today’s Asian session as the pair was lifted from the 9085.00 area during yesterday’s North American session.  Following the pair’s recent move lower to the 8950.00 level during Thursday’s North American session, the pair quickly rebounded to the 9433.00 level before coming off and finding technical Support just below the 9063.99 area, representing the 76.4% retracement of this relative low and relative high.  Selling pressure emerged during yesterday’s North American session right around the 9300.14 area, representing the 23.6% retracement of the 10540.49 – 8917.00 range. Stops were elected above the...

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Ethereum (ETH) Loses Ground Against Bitcoin (BTC) Amid Declining Interest

Ethereum (ETH) started the day in green but Bitcoin (BTC) did it better. There is a reason retail bulls are more interested in Bitcoin (BTC) compared to Ethereum (ETH) and that has to do with the recent 43% pump in BTC/USD in just two days. In this market, traders like to wish for something to happen again more than we have seen in other markets. This is the reason many people are comfortable buying all sorts of altcoins because they think if they made an all-time high before, they will make an all-time high again. This is kind of how...

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Bitcoin (BTC) Is Showing Signs Of Weakness

Bitcoin (BTC) has broken past the key descending triangle as we discussed. This is nothing extraordinary as it has happened before. However, it is important to highlight such moves because the purpose of our analyses at Crypto Daily is to help retail traders understand how they are tricked into making bad trades by the big players in this market and how to combat such antics. The price has failed to garner any momentum to break higher and we can see that it has been struggling to flip bullish but every time it pumps, it retraces back leaving a long wick...

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