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Ethereum (ETH) Bulls Fails To Capitalize On A Bullish Opportunity

Ethereum (ETH) bulls have failed to capitalize on what could have been a very bullish opportunity. The price broke out of a large falling wedge but instead of shooting up it started to show signs of weakness. This was to be expected as the Stochastic RSI has reached extremely overbought levels and is now signaling a decline in the price. Even if we don’t see a sharp decline in ETH/USD, we may still see a small decline followed by sideways movement before any upside could follow. Investors are very fearful to enter Ethereum (ETH) longs on margin which should be...

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Bitcoin (BTC) Bears Not Ready To Back Down Just Yet

Bitcoin (BTC) declined aggressively in the past few days but we still don’t have much hope of a recovery as long as the price fails to break above the 200 day EMA. Some traders were looking at the 200 day SMA when we crashed below the 200 day EMA but we now have a close below that as well. So, there is no reason to be bullish on BTC/USD until we see a break past that level. While it is tempting to be bearish on Bitcoin (BTC) at this point, it is pertinent to note that a sharp decline in...

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Bitcoin (BTC) Correction May Still Not Be Over As Bulls Fail To Gain Control

Bitcoin (BTC) correction may still not be over as bulls have failed to gain control. The price has been on a brutal decline for the past few days but there are still no signs of a recovery as we have seen a strong rejection at the 200 EMA on retest. The daily chart for BTC/USD shows that the price has broken a smaller descending triangle but now it is on the verge of breaking a larger descending triangle. That being said, I don’t expect it to happen when everyone is expecting it. Yesterday’s close below the 200 day EMA was...

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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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