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BTC/USD Orbiting 10000 in Show of Weakness: Sally Ho's Technical Analysis 8 September 2020 BTC

Bitcoin (BTC/USD) extended recent weakness in today’s Asian session as the pair continued to orbit the psychologically-important 10000 figure after encountering selling pressure around the 10358.88 area during yesterday’s Asian session.  Traders were unable to take the pair above the 10364.86 area during the brief rebound higher in yesterday’s Asian session, a level that represents the 38.2% retracement of the appreciating range from 4680.65 to 13878.40.  Selling pressure then emerged around the 50-bar simple moving average, driving the pair back below the 10000 figure and as low as the 9888 area during yesterday’s North American session.  The 10395.81 area represents the 23.6%...

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ETH/USD Tests 329.82 Support After 348.85 Resistance: Sally Ho's Technical Analysis 7 September 2020 ETH

Ethereum (ETH/USD) extended recent losses early in today’s North American session as the pair depreciated to the 331.96 area after trading as high as the 360.61 area during the Asian session, failing to move above previous technical support around the 362.88 area.  Stops were then elected below the 348.85, 341.58, and 335.70 areas during the move lower, representing the 23.6%, 38.2%, and 50% retracements of the recent appreciation from 310.79 to 360.61.   Additional downside retracement levels related to this appreciating range include the 329.82 and 322.55 areas.  The 328.78, 319.75, and 311.90 areas are important technical areas that traders are...

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BTC/USD Facing Challenge at 10395.81: Sally Ho's Technical Analysis 7 September 2020 BTC

Bitcoin (BTC/USD) attempted to win back some recent lost ground in today’s Asian session as the pair continued to look for upward buying pressure after having recently traded below the psychologically-important 10000 figure, and as low as the 9895.22 area.  Buying pressure emerged right at the 10000 figure during yesterday’s European session, followed by additional upward pressure around the 10168.31 area.  Traders are focused on a couple of the pair’s initial upside challenges.  The 10395.81 area represents the 23.6% retracement of the recent depreciating range from 12086 to 9873.71, and the 10490.35 area represents the 23.6% retracement of the depreciating range from...

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ETH/USD Tests 352.84 in First Challenge Since Major Retracement: Sally Ho's Technical Analysis 6 September 2020 ETH

Ethereum (ETH/USD) rallied higher early in today’s North American session as the pair appreciated to the 354.20 area after trading as low as the 316.43 area during the Asian session, up from the 310.79 low during yesterday’s trading activity.  Some Stops were elected above the 352.84 area during the rebound higher, representing the 23.6% retracement of the recent depreciation from 488.95 to 310.79.  Additional upside retracement levels include the 378.85, 399.87, 420.89, and 446.90 areas.  The 328.78, 319.75, and 311.90 areas are important technical areas that traders are monitoring, as are the 302.20, 293.56, 289.64, 285.23, and 279.77 levels.  Technical...

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How Long Can BTC/USD Remain Above 10000? Sally Ho's Technical Analysis 6 September 2020 BTC

Bitcoin (BTC/USD) remained weak early in today’s Asian session as the pair continued to trade below the 10500 level following significant selling pressure that emerged around the 10638.34 area during yesterday’s Asian session, just below the 10647.72 area that represents the 50% retracement of the recent appreciation from 7427 to 13868.44.  That resistance emerged after traders were unable to push the pair back above the 10826.66 area in a pullback higher last week, a level that represents the 61.8% retracement of the recent appreciation from 8940.14 to 13878.67.  BTC/USD later encountered additional technical resistance just below the 10540.49 area in a pullback...

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