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Bitcoin (BTC) Primed For A Swift Bullish Reversal As Bearish Momentum Fades

Bitcoin (BTC) finally made the move that we’ve been calling for in our analyses for weeks now. It was the move towards $9,916 and that finally came to fruition. However, like us, many other professional traders expected that move so when it finally happened, they took profits and got out of their positions. This resulted in a weakening of the bearish momentum. Make no mistake; there are a lot of retail bears still hoping for the price to fall to $8,800 or lower levels from here. I don’t see it happening at this point. The most probable scenario that I...

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Bitcoin (BTC) Bulls Finally Come To The Rescue

Bitcoin declined below the $10,000 mark and fell down to $9,916 as we expected. We have also been discussing how the price would find a support around that level as it is the 61.8% fib extension level and that finally happened. Every move to the downside was followed by a big bounce and the price ended up closing way above the 61.8% fib extension level. So long as the price remains above this level, we expect the temporary bullishness to remain in the market. The reason we are bullish on BTC/USD from this point forward for now is because of...

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Sally Ho's Technical Analysis 11 September 2019

Bitcoin Bitcoin (BTC/USD) appreciated slightly early in today’s Asian session as the pair climbed to the 10297.12 area after finding a bid around the 9916.00 area during yesterday’s North American session, below the 9938.16 area that represents the 61.8% retracement of the move from 7508.77 to 13868.44.  The pair was steadily pressured lower from yesterday’s Asian session and Stops were elected below the 100-bar MA (4-hourly) late in yesterday’s European session.  Notably, the intraday high during today’s Asian session is right around the 61.8% retracement of the recent 10541.75 – 9318.00 range, an indication that technicals are impacting the short-term....

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Ethereum (ETH) Could See Further Upside Before A Major Downtrend

Ethereum (ETH) is holding strong above a key trend line support that stands between it and the next big crash. The 1H chart for ETH/USD shows us that the bulls may not only be able to defend a break below the trend line support but they may also push the price above $183.65 if the ascending triangle is broken to the upside. This breakout is likely to be a terrible blow for the bears who have long been anticipating the price to decline but it has been surging higher after every short term crash. The bullish euphoria in the market...

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Bitcoin (BTC) Bulls Not Prepared To Back Down Just Yet

Bitcoin (BTC) is trading within a falling wedge at a time when the bulls are not prepared to back down. The 15 min chart for BTC/USD shows that attempts to break lower have been followed by traders buying the dips. This is nothing surprising to see considering a lot of traders are still waiting with long positions to capitalize on the upcoming Bakkt launch on September 23, 2019. I for one would be very surprised if the price keeps on surging towards $11,000 as the Bakkt launch nears but sideways movement in anticipation of a breakout is within the realm...

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