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Sally Ho's Technical Analysis 4 October 2019

Bitcoin Bitcoin (BTC/USD) depreciated to the 8086.66 level early in today’s Asian session as the pair fell back below the 8118.00 area, a short-term level of technical Support.  The pair had shown some upward bias above the 8000 figure following last week’s crash to the 7712.45 area after cratering below the psychologically-important 10000 figure.  Technicians continue to eye the 8505 and 8692 levels as upside price objectives above which buying pressure must emerge if the 8995 area will be challenged, representing the post-crash high after the 10000 figure gave way. Chartists are also interested to evaluate price activity around the...

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Ethereum (ETH) In Deep Trouble As Market Inches Closer To Next Downtrend

Ethereum (ETH) is in big trouble and not just against the US Dollar (USD). It is time for Ethereum (ETH) to begin its correction against Bitcoin (BTC) and it is only a matter of time before we see that begin to happen. The daily chart for ETH/BTC shows us that the price has run into the 38.2% fib retracement level. At the same time, it risks a sharp decline below an important trend line support. This has put ETH/BTC in a tricky situation and soon as we see the pair decline below the trend line support, we might have a...

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Could A Trend Reversal In Gold Mean A Trend Reversal In Bitcoin (BTC)?

Gold has recently been an important leading indicator for Bitcoin (BTC). We have seen the price of Bitcoin (BTC) react to movements in Gold (XAU/USD). We do not know for sure how much of that correlation was real and how much was staged but we do know that a correlation existed which a lot of investors counted on to see where the price of Bitcoin (BTC) is going to head next. Now that Gold has run into a strong resistance at the 61.8% fib retracement level and is on the verge of a potential trend reversal, is it reasonable to...

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Bitcoin (BTC) Is On The Verge Of Another Downtrend

Bitcoin (BTC) started to rally after initial signs of weakness which led some traders into thinking that maybe the bearish setup is invalidated. However, if we zoom out and look at the BTC/USD chart, we can see that there is nothing to be worried about from a bearish standpoint as the price has just formed a double top and is now primed for a sharp decline. The RSI shows us that it tested the trend line resistance again and started to decline from there. Cryptocurrencies are now at a major risk of further downside and what we see in this...

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Sally Ho's Technical Analysis 3 October 2019

Bitcoin Bitcoin (BTC/USD) continued to follow some technical trading patterns early in today’s Asian session as the pair glided higher to the 8419.95 area.  During yesterday’s European session, Bids emerged around the 8216.41 area, representing the 38.2% retracement of the 7701.00 – 8535.00 range, and the pair orbited the 50-bar MA (4-hourly).  Earlier in yesterday’s European session, buying activity also emerged around the 100-bar MA (hourly), then indicating around the 8175 area.  Trading activity has recently been seen between the 100-bar MA (hourly) and 50-bar MA (hourly), and chartists are observing a Bullish convergence of the 50-bar MA (hourly) and...

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