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Litecoin (LTC)’s Symmetrical Rise And Fall And The Need To Keep It Simple

Litecoin (LTC)’s rise and fall symmetry highlights the importance of keeping things simple. It’s a principle that works best in all walks of life and trading is no exception. If we zoom out and look at the daily chart for LTC/USD, we can see that the price is now declining in the same manner that it rallied in. So, without using any fancy indicators or trend lines, we can tell right away what is going on and what is expected to happen next. All we need is patience and discipline to wait it out and let the trades come to...

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Bitcoin (BTC) Cannot Trade Sideways For Long

Bitcoin (BTC) made a big move to the downside after we last talked about it on Friday but in the days that followed it has practically traded sideways. However, now it has run into a key trend line resistance and is once again on the verge of a sharp decline. The last time this happened, we saw the price decline massively and if the same happens again then we are looking at BTC/USD declining towards the bottom of the descending triangle that we see on the daily chart. This is a bearish development for the overall market but it is...

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Bearish EUR/USD Might Drag Bitcoin (BTC) Down With It

EUR/USD is bearish and it might drag Bitcoin (BTC) down with it if it begins its long anticipated downtrend today. The reason I expect this to happen is because BTC/USD is predominantly traded in US Dollars (USD) on most exchanges. The EUR/USD pair contributes the most to the strength or weakness of the US Dollar (USD). So, if it EUR/USD starts to decline now that it has faced a strong rejection at the 50 day EMA, it means that we might see Bitcoin (BTC) do the same. It is pertinent to note that EUR/USD has continuously faced a series of...

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Sally Ho's Technical Analysis 14 October 2019

Bitcoin Bitcoin (BTC/USD) recovered early in today’s Asian session after a major depreciation saw the pair decline rapidly from the 8446.03 level and test the 8146.07 area. Stops were elected below the 8282.15 area during the sharp move lower, a level that represents the 61.8% retracement of the 8419.95 – 8059.22 range. The pair had been relatively muted following the pair’s spike higher to the 8826.00 level on 11 October, a move that saw Stops elected above the 8692.32 area, representing the 76.4% retracement of the move from 8995.00 to 7712.45.  Thereafter, the market receded to the 8226.00 area, deriving...

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Ethereum (ETH) All Set To Begin Its Next Downtrend

Ethereum (ETH) has just run into the 50 EMA on the 1H time frame and with that it seems to have run out of room for further upside as the RSI points to a clear downtrend that ETH/USD is very unlikely to break out of at this point. The 1H chart for ETH/USD also shows how Ethereum (ETH) faced a rejection once at the 50 EMA before and declined to a trend line resistance turned support. Something similar is likely to happen this time as the RSI has faced rejection whereas the Stochastic RSI has reached overbought conditions. Meanwhile, the...

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