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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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Sally Ho's Technical Analysis 13 October 2019

Litecoin Litecoin (LTC/USD) was rangebound early in today’s Asian session as the pair traded as high as the 56.24 level after trading as low as the 55.23 area during yesterday’s North American session. Traders continue to monitor price activity around some key levels including the 59.97 area, representing the 23.6% retracement of the 182.35 – 22.17 range.  The markets crashed below this area on 24 September en route to its recent low print of 50.25 and LTC/USD will need to recover and become constructive above this area if positive sentiment will emerge in the medium-term.  A couple of additional levels...

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Bitcoin (BTC) Can See Some Near Term Upside But Bearish Setup Remains Intact

Bitcoin (BTC) could see some short term upside as the price is consolidating and in a good position to test the 38.2% fib retracement level from current levels. That move might also coincide with a test of the previously broken ascending channel. In my opinion, for the price to begin a strong downtrend, we have to see a retest of the previously broken trend line support turned resistance. A rejection at that trend line will be key to the price changing direction but at the moment, the RSI and the Stochastic RSI on the 4H time frame indicate that there...

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Sally Ho's Technical Analysis 12 October 2019

Bitcoin Bitcoin (BTC/USD) was slightly weaker early in today’s Asian session after the pair traded as low as the 8226.00 area late in yesterday’s North American session. Market sentiment improved this week after traders lifted the pair back above the 8000 figure to its strongest level since 24 September following BTC/USD’s acute decline below the psychologically-important 10000 figure. The pair spiked to the 8826.00 level during yesterday’s European session after Stops were elected above the 8692.32 area.  One indication of improved sentiment this week emerged when buying pressure kept the pair above the 8473.75 area, representing the 23.6% retracement of...

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