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Sally Ho's Technical Analysis 23 September 2019

Bitcoin Bitcoin (BTC/USD) weakened early in today’s Asian session as the pair traded as low as the 9920.70 area following selling pressure late in yesterday’s North American session that commenced around the 10077.11 area, just above the 38.2% retracement of the 9585.86 – 10379.15 range.  The pair’s directional bias is uncertain at the moment as the 10379 level acted as technical Resistance over the past several days and the 9585 area acted as technical Support over the past several days. Above market activity, the 50-bar MA (4-hourly), 100-bar MA (4-hourly), and 200-bar MA (4-hourly) are converging and are likely to...

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Ethereum (ETH) All Set To Decline Below $200 In The Near Future

Ethereum (ETH) all set to decline below $200 as early as this week. The 4H chart for ETH/USD shows that there is now a set of two descending triangles on the chart that the price could break below. It has already broken below a larger rising wedge and is now ready to decline further within the descending channel. RSI has already declined below a key support and the Stochastic RSI is in a downtrend having now run into a trend line resistance. Volume has continued to decline over the past few days and we are now on the verge of...

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Sally Ho's Technical Analysis 22 September 2019

Bitcoin Bitcoin (BTC/USD) extended its recent pullback early in today’s Asian session as the pair traded as low as the 9850.00 level after peaking around the 10180.00 area during yesterday’s Asian session.  Stops were elected below the 9888.90 area during the pair’s descent, representing the 61.8% retracement of the 9585.86 – 10379.15 range.  Selling pressure was also steady throughout yesterday’s European and North American sessions, with the 9773.08 area the next short-term downside target. BTC/USD continues to orbit the psychologically-important 10000 figure and is now trading well below the 50-bar MA (4-hourly), 100-bar MA (4-hourly), and 200-bar MA (4-hourly). Also,...

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Bitcoin (BTC) Is About To Enter A 2017-18 Styled Bear Trend

Bitcoin (BTC) is about to begin a 2017-18 styled bear trend that is finally going to pull the price towards its true bottom. Last month, BTC/USD closed below the important 61.8% fib retracement level shown on the monthly chart. This confirmed our bearish bias and now we expect further downside to follow in the months ahead. Price action of the last few months shows that the price ended up leaving long wicks to the upside but it failed to invalidate the bearish setup. To think that BTC/USD is going to begin a new bullish cycle from current levels would be...

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Sally Ho's Technical Analysis 21 September 2019

Bitcoin Bitcoin (BTC/USD) drifted lower early in today’s Asian session as the pair traded as low as the 10056.30 following steady selling pressure that emerged during yesterday’s Asian session when the pair ran out of steam around the 10379.15 level.   Bids emerged early today right around the 23.6% retracement of the 13202.63 – 9071.00 range following steady selling pressure during yesterday’s European and North American sessions.  BTC/USD is again trading below its 50-bar MA (4-hourly), 100-bar MA (4-hourly), and 200-bar MA (4-hourly). Stops were elected below the 10076.11 area late in yesterday’s North American session, representing the 38.2% retracement of...

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