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Sally Ho's Technical Analysis 27 September 2019

Bitcoin Bitcoin (BTC/USD) experienced ongoing weakness early in today’s Asian session as the pair remained on the defensive after trading as low as the 7712.45 level during yesterday’s North American session following its recent abrupt decline below the psychologically-important 10000 figure this week.  The pair’s market bias shifted decisively when BTC/USD Bears dominantly knocked the pair lower to its weakest levels since June of this year, trading as low as the 8159.35 area, before late-week selling added more pressure.  The strength of the Bears was evident when they triggered a huge amount of Stops below key levels, including the 9009.65...

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Sally Ho's Technical Analysis 26 September 2019

Bitcoin Bitcoin (BTC/USD) continued to trade well below the psychologically-important 10000 figure early in today’s Asian session as the pair was slightly stronger up around the 8399.99 area after trading as low as the 8228.00 area during yesterday’s North American session.  Traders reevaluated BTC/USD market risk this week in a major way when they pushed the pair to the 8159.35 area on 24 September, its weakest print since June of this year prior to the pair’s sharp move higher to the 13868.44 area.  Major Stops were elected below the 9009.65 area during the pair’s depreciation this week, a level that...

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Ethereum (ETH) Could Still See Short Term Bullishness Before Further Decline

Ethereum (ETH) is very likely to see further bullishness if it ends up rallying past the trend line support turned resistance that it recently faced a strong rejection off. This line is what stands between ETH/USD and its next rally towards the 38.2% fib retracement level from the yearly high. I have no reason to be so bullish to say the price will test the 38.2% again but I do believe that Ethereum (ETH) is in a much better position to rally compared to Bitcoin (BTC) if it rallies past this trend line. RSI and Stochastic RSI on the daily...

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Bitcoin (BTC) Fails To Rally Past 200 Day EMA After A Crippling Crash

Bitcoin (BTC) crashed hard the past 48 hours. It has finally invalidated the bulls’ favorite symmetrical triangle and has now broken below the descending triangle as we have been calling for these past few weeks. Now that it has declined well below the descending triangle, we have to see if it can stage a bullish recovery by rallying past the 200 day EMA. So far it has failed miserably at doing that. There is still a lot of fear in the market and investors are afraid to step in. As for the Tether (USDT) printing, this time it is going...

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Bitcoin Finally Completes Correction But Recovery Not In Sight Yet

Bitcoin (BTC) has finally crashed like we expected. It broke below the symmetrical triangle as well as the descending triangle both and has now declined even below the 200 day EMA. We have been calling for this move for weeks now but some have been calling us permabears and being overly bearish on cryptocurrencies while the reality on ground was that the situation couldn’t have been interpreted any differently. There was no other way to look at it. Sure, some people thought there were 50-50 odds of BTC/USD breaking up or breaking down but I’ve never believed in that because...

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