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Bitcoin (BTC) Rally Towards $11,000 Still Possible But Not Very Probable

Bitcoin (BTC) recently invalidated a descending triangle and has now turned it into an ascending triangle. This is not something we get to see often but if you focus on the play here, this is not surprising at all. Trading is more about psychology than it is about drawling lines and patterns on a chart. There are a lot of traders who can draw good lines and patterns but they can’t make profitable trades. The reason that does not work is because if you can draw pretty lines and patterns, you are the market maker’s favorite victim. They will play...

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Sally Ho's Technical Analysis 15 September 2019

Bitcoin Bitcoin (BTC/USD) appreciated early in today’s Asian session as traders lifted the pair to the 10433.49 area after buying activity emerged late in yesterday’s North American session around the 10223.36 area. After moving close to the 10395 area during yesterday’s Asian session, an important upside price objective that represents the 50% retracement of the move from 10939.34 to 9851.97. BTC/USD orbited both the 50-bar MA (4-hourly) and 200-bar MA (4-hourly) before buying demand surfaced during the North American session. Chartists are observing a Bullish convergence of the 50-bar MA (hourly) and 200-bar MA (hourly) that could lead to additional...

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Could Gold (XAU/USD) And Bitcoin (BTC) Have Topped At The Same Time?

Gold (XAU/USD) has been one of the most important leading indicators for Bitcoin (BTC) in 2019. The weekly chart for XAU/USD and BTC/USD shows the strong correlation between the price of Gold and the price of Bitcoin. We can see that a rally in gold has led to a rally in Bitcoin for the most part during 2019 but does that also mean that Bitcoin will fall as Gold starts to fall now that it appears to have topped out? The short answer is yes. The reason Bitcoin (BTC) joined Gold’s rally was because it was projected as digital gold...

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Sally Ho's Technical Analysis 14 September 2019

Bitcoin Bitcoin (BTC/USD) gave back a small amount of gains early in today’s Asian session following the pair’s quick ascent late in yesterday’s North American session that saw traders lift the pair from the 10157 level to the 10392 level, right around the 50% retracement of the move from 10939.34 to 9851.97.  Traders tested the 100-bar MA (4-hourly) around the 10150 area before driving BTC/USD higher late in yesterday’s North American session.  The pair continues to trade above and below both the 50-day MA (4-hourly) and 200-day MA (4-hourly). If BTC/USD is able to climb above the 10392 area, traders...

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Ethereum (ETH) Eyes Significant Further Downside Against Bitcoin (BTC)

Ethereum (ETH) is primed for a massive decline against Bitcoin (BTC). It has yet to fall towards the next fib circle which means that we might see a next wave of downside similar to what we saw in August if not more devastating. The daily chart for ETH/BTC shows that Ethereum (ETH)’s downtrend against Bitcoin (BTC) remains intact. As long as it remains below the 21 day EMA, we can expect further downside to follow in an aggressive manner. The next few weeks are expected to be brutal for Ethereum (ETH) as it will lose most of its gains not...

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