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Sally Ho's Technical Analysis 9 October 2019

Bitcoin Bitcoin (BTC/USD) appreciated marginally early in today’s Asian session, reaching the 8210.00 figure after trading as low as the 8107.26 area late in yesterday’s North American session.  Bids emerged around the 50-bar MA (4-hourly) early in the Asian session, then indicating around the 8177.24 area, and this contributed to short-term positive sentiment.  BTC/USD Bears are eyeing the 8225.12 area as an upside challenge that could cap some short-term gains, representing the 50% retracement of the recent 8342.97 – 8107.26 range. Price activity has managed to remain above the 50-bar MA (hourly), contributing to some short-term bullish sentiment, and the...

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Ethereum Dominance Tops Out Signaling Imminent Downside In Ethereum (ETH)

Ethereum dominance has finally topped out and is now signaling imminent downside in Ethereum (ETH). This is the chart that we have been looking at for a long time and we can see that for more than a week now Ethereum dominance (ETH.D) has done nothing but traded sideways. We have now seen a sharp move to the upside with the beginning of this week but all it has done is test the 61.8% fib retracement level again and has now run into the previously broken trend line support which was part of a rising wedge and has now become...

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Bitcoin Bears Unmoved By Recent Pump

There is something very bullish happening on this Bitcoin (BTC) chart. We have seen a big move out of the symmetrical triangle and now there is a bull flag in the making except it is on the inverted chart for Bitcoin (BTC) instead of the regular one. If something like this had happened on the regular chart most traders with a bullish mindset would readily accept that. So, I have sketched this on the inverted chart to demonstrate that it does not matter whether there is bull flag on the regular chart or the inverted chart. It means that we...

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Bearish EUR/USD Outlook Spells Trouble For Bitcoin (BTC)

The Euro is in a tough spot against the US Dollar and as we can see on the daily chart for EUR/USD, there is a lot of room for potential further downside. If the pair was to close below the 38.2% fib retracement level today, then we would be looking at a decline to the bottom of the channel. If you look at this chart and put it next to the BTC/USD chart, you would notice that movements in this pair have had a very strong impact on the price of Bitcoin (BTC) throughout Bitcoin (BTC)’s trading history. The effect...

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Sally Ho's Technical Analysis 8 October 2019

Bitcoin Bitcoin (BTC/USD) retreated lower to the 8208.99 level early in today’s Asian session after trading as high as the 8310.57 level during yesterday’s North American session.  Buying pressure became active during yesterday’s Asian session when traders lifted the pair from the 7762.35 area, preventing BTC/USD from then testing the 7701 area that it tested twice in late September.  Yesterday’s buying activity continued well into yesterday’s European session, lifting BTC/USD as high as the 8060.53 area, right around a previous relative low related to a prior move higher to the 13878.80 area. BTC/USD is again approaching its 50-bar MA (4-hourly)...

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