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Why Shorting Bitcoin (BTC) Is Not Worth It At This Point

Most traders realize that shorting an asset is not as lucrative as longing it. In other words, if you are long on Bitcoin (BTC), the price could go up more than 100% but if you are short, the price could fall 100% only if it goes to zero which I think will never happen. That being said, this does not mean that traders should not short Bitcoin (BTC). Sometimes, the opportunities are far too good to ignore. However, in times like these when liquidity is low in other cryptocurrency pairs, most traders get interested in Bitcoin (BTC) and Ethereum (ETH)...

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Sally Ho's Technical Analysis 20 October 2019

Bitcoin Bitcoin (BTC/USD) retreated lower early in today’s Asian session as the pair traded as low as the 7896.01 area following steady selling pressure after the pair failed to sustain a break above the 8000 figure. During yesterday’s North American session, the pair weakened to the 7873.46 area and quickly retraced higher to the 8099.98 area before ceding some intraday gains.  A few Stops were elected below the 7887.32 area during the pair’s quick move lower yesterday, a level that represents the 23.6% retracement of the 8124.42 – 7814.08 range.  Some additional Stops were then triggered above the 8051.18 area,...

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EUR/USD Weekly Close Hints At A Major Bullish Move In Bitcoin (BTC)

EUR/USD had a very bullish close this week as the pair ended up piercing through a strong support turned resistance and closed above the 21 Week EMA. This has changed the near term bearish outlook into a bullish outlook with the descending triangle now being converted into a falling wedge. This is a similar falling wedge as we see in BTC/USD. If the pair ends up breaking out of the falling wedge next week, this would be extremely bullish for Bitcoin (BTC) and other cryptocurrencies and we might see a strong rally towards $9,256 and potentially higher levels in Bitcoin...

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Sally Ho's Technical Analysis 19 October 2019

Bitcoin Bitcoin (BTC/USD) drifted lower early in today’s Asian session as traders pushed the pair to the 7921.05 area after the pair traded as high as the 7989.72 area during yesterday’s North American session.  Prior to that, the pair tumbled from the 8117.77 level early in yesterday’s Asian session and traded as low as the 7814.08 area before mounting a comeback. The pair continues to orbit the 7966.50 area, representing the 76.4% retracement of the move from 7701.00 – 8826.00. Weakness in BTC/USD continues to linger as evidenced by its inability to move back above the 50-bar MA (hourly) following...

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Ethereum (ETH) Near Term Outlook Remains Bullish Despite Recent Crash

Ethereum (ETH) has just declined to the 21 EMA on the daily chart for ETH/BTC. This level also coincides with the 38.2% fib retracement level from a recent top. So, what does this mean? It means that the recent crash has not changed the bullish outlook of Ethereum (ETH) near term. If the pair ends up closing the day above the 21 day EMA, this would be a very bullish event leading to a major move to the upside in the days ahead. I think the market makers have deliberately instilled fear in the market recently to get every all...

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