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Ethereum (ETH)’s Next Big Move Is Just Around The Corner

Ethereum (ETH) is finally close to its next big move that we have been waiting to come to fruition for weeks. The symmetrical triangle on the 4H chart will now either see a sharp breakout to the upside or to the downside. Considering that the cryptocurrency market is still due for another downtrend and the condition of the Stochastic RSI and RSI for ETH/USD on the 4H chart, I’m inclined to believe that we are very likely to break to the downside. The price remains below the 38.2% fib retracement level despite numerous attempts to break out. As long as...

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Sally Ho's Technical Analysis 6 October 2019

Bitcoin Bitcoin (BTC/USD) appreciated to the 8176.18 level early in today’s Asian session as the pair tested its 50-bar MA (4-hourly) and them came off.  Bids emerged around the 8020.20 area during yesterday’s European session after negative market sentiment saw the pair glide lower during Friday’s European session and test the 8002.21 level after some Stops were elected below the 8019.59 area, a level that represents the 61.8% retracement of the 7701.00 – 8535.00 range.  Traders have been unable to retest the 8260.37 area following the move lower, and this level is significant because it represents the 61.8% retracement of...

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Bitcoin (BTC) Risks A Sharp Decline Even Under The Bullish Case

Bitcoin (BTC) risks a sharp decline over the weekend even under the bullish case. This might be a similar correction to what we have seen before when the price declined below the previous descending triangle. At the moment, there is not enough bullish momentum for the price to break out of the falling wedge that it is currently trading in which is why there is a strong probability that we might see a sharp break out down  to the bottom of the falling wedge. RSI on the 4H time frame is in favor of such a move and the same...

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Sally Ho's Technical Analysis 5 October 2019

Bitcoin Bitcoin (BTC/USD) depreciated to the 8110.04 level early in today’s Asian session as the pair continued to edge closer to the psychologically-important 8000 figure. The pair appears to have developed a downward bias following its moves around some technical levels including the 8338.18 area, a level BTC/USD was unable to test during yesterday’s Asian session.  Likewise, the 8321.36 level represents the 76.4% retracement of the move from 8419.95 to 8002.21.  Given the near-term negative sentiment, chartists are looking to see if the pair will test technical Support around the 7897.82 area ahead of buying pressure that has emerged around...

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Ethereum (ETH) Primed For A Sharp Decline After Rejection At Key Resistance

Ethereum (ETH) has just faced a strong rejection at a key resistance level. This level is the 38.2% fib retracement level from the recent top at the top of the descending channel. For the price to have failed to break past this level is a very big deal as it indicates that we might have a downtrend in the offing because there is a lot of room for that to happen. RSI on the daily time frame indicates that there is plenty of room for that. Stochastic RSI on the daily time frame indicates that we are very likely to...

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