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Bitcoin (BTC): Here’s What Is Really Going On

Bitcoin (BTC) invalided two descending triangle in the past seven days, one after another to test the 38.2% fib retracement level twice. Both of these times, the descending triangles were far too obvious and a lot of people talked about it on Crypto Twitter and other forums. It is not really about the setup; it is about what traders are thinking when a setup presents itself. It all comes down to whether they are comfortable or not comfortable playing that setup. If we look at the current 4H chart for BTC/USD, we can spot an even larger descending triangle but...

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Sally Ho's Technical Analysis 10 October 2019

Bitcoin Bitcoin (BTC/USD) was mostly flat early in today’s Asian session after the pair’s sharp climb higher during yesterday’s North American session tested the 8712.45 area, representing the 76.4% retracement of the move from 8995.00 to 7712.45.  Minor Stops were triggered above that level and the corresponding pullback saw Bids emerge around the 8516 area, right around the 50% retracement of the move from 3136.25 to 13868.44.  The move pushed BTC/USD above its 50-bar MA (hourly), 100-bar MA (hourly), and 200-bar MA (hourly). Bids emerged right around the 50-bar MA (4-hourly) during the pair’s rapid ascent yesterday and some additional...

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Ethereum (ETH) Continues To Offer Favorable Entry Points For Short Sellers

Ethereum (ETH) has to be the short seller’s favorite cryptocurrency. The funding rates are very favorable most of the times and the opportunities to enter shorts are endless. You just need to have a good understanding of market psychology. Just as you would be interested in dollar cost averaging your entries in Bitcoin (BTC), I think ETH/USD is offering good opportunities to short sell if you want to dollar cost average your entries. For position traders that have been short selling at much higher levels, these opportunities are a godsend as they keep adding to their shorts when the price...

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Crypto Market Is Days Away From Its Next Big Crash

Bitcoin has done practically nothing but traded sideways if we were to look at the daily chart because it closed below the 38.2% fib extension level once again. However, the same could not be said of Ethereum (ETH) which made quite a few moves of its own and ended up rallying much higher making big moves to the upside shaking out bears who entered shorts just when the price declined below a key support. The price has now broken past that support turned resistance and has run into the 200 EMA on the 4H time frame as well. So, what...

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EUR/USD Persistent Bearish Outlook Warns Of Sharp Decline In Bitcoin (BTC)

EUR/USD continues to show signs of weakness but we see Bitcoin (BTC) and other cryptocurrencies continue to confuse traders short term showing fake signs of bullishness when the big picture remains very clear. It all comes down to making decisions with a level head in trading. If you are unnerved by every short move up and down then you are not likely to be profitable in this market or any financial market. You could get lucky once or twice but there will be no consistent profits unless you have a strategy that you can stick to. This daily chart for...

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