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Bitcoin (BTC) Could Decline Below $9,000 In A Matter Of Days

Bitcoin (BTC) could begin its downtrend soon as it declines below the key descending triangle that it has been trading in for a while now. This descending triangle while unlikely to break cleanly to the downside would lead to further downside nonetheless. Descending triangles in this market are often invalidated first with fake outs that shake out most of the retail bears and then the downtrend actually begins. If the same were to happen this time, we would expect it in the next few days as conditions are ripe for another fake out on the 4H chart for BTC/USD. However,...

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Sally Ho's Technical Analysis 30 October 2019

Bitcoin Bitcoin (BTC/USD) rallied higher early in today’s Asian session as the pair climbed to the 9515.03 area after trading as low as the 9068.19 area during yesterday’s North American session.  Traders continue to keep BTC/USD above some important technical levels and this could lead to additional price gains. Over the weekend, technical Bids emerged around the 8917.00 area, right around the 50% retracement of the recent 7296.44 – 10540.49 range.  The pair bounced higher from this level and has since been orbiting a couple of additional price retracement levels related to this range, including 9301.26 and 9774.89.  Another important...

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Ethereum (ETH) Could Begin Its Most Anticipated Downtrend This Week

Ethereum (ETH) could begin its most anticipated downtrend as soon as this week. This would be a big move followed by further continuation for the weeks ahead. In my opinion, this would be more than a 40% decline that would see the price fall towards the 61.8% fib retracement level from the yearly high. So far, we have seen the price consolidate within a symmetrical triangle. It is equally likely that we see a sharp breakout to the upside before any downtrend follows. We have seen such fake outs in the past before major downtrends which is why such a...

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Beware Of A Big Move In Bitcoin Ahead

A big move is around the corner in Bitcoin (BTC). The 1H chart for BTC/USD shows the price trading within a symmetrical triangle that it will soon have to break out of. Before we see an actual downtrend begin, we could see a fake out aimed at shaking out retail bears before the big move to the downside comes into effect. The price is up against two strong resistance zones. The first is the 38.2% fib retracement level from the all-time high whereas the second is the 38.2% fib retracement level from the yearly high. Both of these are strong...

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How Low Could Bitcoin (BTC) Fall From Here?

Bitcoin (BTC) is going to crash hard from here sooner or later. Certainly, it is not going to happen in a way that would give more people a chance to short it at good entries, but is going to crash nonetheless and the next target that we would see it decline to is to the 21 EMA next month and then eventually below that down to the trend line support. I expect that trend line support to be broken and BTC/USD to enter a descending triangle that might also be eventually broken and that is when we will see the...

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