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Sally Ho's Technical Analysis 7 September 2019

Litecoin Litecoin (LTC/USD) traded lower early in today’s Asian session, reaching a low of 63.87, as the pair continues to exhibit weakness and trade just above some very important technical downside levels.  Earlier this week, the pair appreciated and tested the 100-bar MA (4-hourly), then trading around the 70.75 area but Bulls were unable to push the pair higher above that technical Resistance.  Traders are searching for direction around the 50-bar MA (4-hourly) after pushing LTC/USD below this area on Thursday. One very important level that traders are watching is the 62.58 area, representing the 38.2% retracement of the move...

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Litecoin (LTC) Remains At Risk Of A Major Crash While It Remains Below $70

Litecoin (LTC) seems to be rallying and declining in the same manner. The daily chart for LTC/USD shows how similar Litecoin (LTC)’s descent is to its ascent. It has now declined below the 38.2% fib extension level. The price ended up testing this level but faced a strong rejection. The next stop from here would be the 61.8% fib extension level but if it keeps on declining in this manner closely mimicking the manner in which it rallied, then we are not likely to see the 61.8% level hold for long and eventually the price is going to decline much...

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Why Bitcoin (BTC) Is Primed For A Sharp Decline From Current Levels

Bitcoin (BTC) has a history of repeating certain fractals. They can be easy to find for those that are willing to go the extra mile to do their research. In this case, that fractal is right in front of us. When the price tested the top of the symmetrical triangle the last time before it declined to the bottom of it, the fractal it formed is similar to what is in the making right now. There is the same pattern of rise followed by three tops which is then followed by a decline when the price faces a rejection at...

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Bitcoin (BTC) Is At A Turning Point

Bitcoin (BTC) has closed the day below the 38.2% fib extension level as we expected. This is now the third consecutive daily close below this level. Although the price has begun the day in green and has rallied past this level, the most probable scenario would be that it will end the day below it just as it did for the past three days. The reason why I expect that to happen is because the current phase of the ongoing market cycle bears a strong resemblance to the 2014 part of the previous cycle. The difference is that the price...

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Sally Ho's Technical Analysis 6 September 2019

Bitcoin Bitcoin (BTC/USD) gained a little bit of ground early in today’s Asian session as the pair traded as high as the 10602.10 area after finding Bids around the 10488.99 area during yesterday’s North American session.  Today’s Bids early in the Asian session are right around the 200-bar MA (4-hourly) and traders are waiting to see if the pair can establish a constructive base around that area. Also, Bids emerged at the 10507.07 area late in yesterday’s North American session, a Bullish development because it is right around the 38.2% retracement of the 5072.01 – 13868.44 range. There has been...

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