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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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Why Bitcoin (BTC) Bears Might Be In For A Big Surprise

Bitcoin (BTC) is very close to a major breakout. The 4H chart for BTC/USD shows that we will have the next big move in less than four days. This is a big development to follow for a lot of traders because the bears are expecting the price to decline to $5,500 or $6,000 from current levels whereas the bulls are expecting the smaller descending triangle to be invalidated and for the price to shoot out of the larger falling wedge instead. In my opinion, the larger falling wedge has a much higher probability of playing out. Even if both scenarios...

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Bitcoin (BTC) Is Days Away From Its Next Big Breakout

Bitcoin (BTC) has seen massive volatility recently and investors are confused as to its next direction. The bulls and bears are the most divided at this point with the bears expecting a decline down to $6,000 while the bulls expect the descending triangle on the daily chart for BTC/USD to be invalidated and for the price to rally past $8,000 to $9,256 and higher levels in the days ahead. Developments over the past few days have convinced me that what is happening at the moment is just scare tactics to discourage the bulls from getting onboard and encourage the bears...

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Sally Ho's Technical Analysis 18 October 2019

Bitcoin Bitcoin (BTC/USD) was a little stronger early in today’s Asian session as the pair traded as high as the 8081.69 area after trading as low as the 7937.01 level during yesterday’s European session.  During the pair’s ascent yesterday, BTC Bulls pushed the pair as high as the 8124.42 area, just below the 8130.75 area that represents the 61.8% retracement of the 7701.00 – 8826.00 range.  Before testing that level, some buying demand emerged around the 8015.13 area, representing the 23.6% retracement of the 8995.00 – 7712.45 range. After testing this level, some buying interest emerged around and below the...

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