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Bitcoin (BTC) Bulls Have Nothing To Worry About Yet

Bitcoin (BTC) bulls have nothing to worry about yet. The bullish setup still remains valid and we are still likely to see Bitcoin (BTC) rally towards $9,000 and most likely higher in the weeks ahead. The trend line that we sketched on BTC/USD a long time ago still remains valid. We can see on the daily time frame that this trend line was tested which was followed by downside as we expected. The price did crash harder than I expected. I expected it to find support around the $7,600s area but it ended up falling further. That being said, it...

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Bitcoin (BTC) Bullish Setup Remains Intact Despite The Devastating Crash

Bitcoin (BTC) bullish setup remains intact for now despite the recent crash. The price remains on top of an important trend line and a key support zone. It is close to testing the 61.8% fib extension level at $7,279 which would be a good time to look for bullish entries short term. We can expect a retest of the trend line resistance to say the least before the price declines below the 61.8%. In my opinion, it is going to be a long process before the price declines further. We have seen in the past that declines below such important...

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Sally Ho's Technical Analysis 24 October 2019

Bitcoin Bitcoin (BTC/USD) was slightly weaker early in today’s Asian session as the pair fell back to the 7430.02 area after trading as low as the 7296.44 area during yesterday’s North American session.  Selling pressure emerged during Tuesday’s North American session when traders started driving the pair lower from the 8317.14 level and intensified early in yesterday’s North American session when the price declined below the 7300 figure.  This represented the pair’s weakest print since mid-May and accelerated after Stops were elected below the 7508.77 area, a relative low from June. Selling pressure was also seen below the 7701 area,...

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Ethereum (ETH) All Set To Begin Its Uptrend Against Bitcoin (BTC)

Ethereum (ETH) is all set to begin its uptrend against Bitcoin (BTC). The daily chart for ETH/BTC shows that the pair has found support on the 50 day EMA and could soon begin its uptrend. The RSI as well as the Stochastic RSI are both in favor of such a move. This is line with our previous analyses on Ethereum (ETH) in which we have discussed how ETH/BTC is unlikely to begin its downtrend before it tests the 200 day EMA. After this uptrend, Ethereum (ETH) may finally be in a position to do that. The pair is likely to...

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Bitcoin (BTC) Bullish Setup Still Remains Valid

Bitcoin (BTC) seems to be caught up in some serious bearishness short term but the near term outlook still remains positive. If we look at the 4H chart for BTC/USD, we can see a diamond formation that is quite significant. Historically, diamond formations have worked well in this market. The last time we saw a similar diamond formation, we saw a big move to the upside in Bitcoin (BTC). The same could happen this time but traders need to be cautious as the stakes are too high and the market makers and whales are unlikely to just give the trade...

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