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Bitcoin (BTC) Fails To Rally Past 200 Day EMA After A Crippling Crash

Bitcoin (BTC) crashed hard the past 48 hours. It has finally invalidated the bulls’ favorite symmetrical triangle and has now broken below the descending triangle as we have been calling for these past few weeks. Now that it has declined well below the descending triangle, we have to see if it can stage a bullish recovery by rallying past the 200 day EMA. So far it has failed miserably at doing that. There is still a lot of fear in the market and investors are afraid to step in. As for the Tether (USDT) printing, this time it is going...

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Bitcoin Finally Completes Correction But Recovery Not In Sight Yet

Bitcoin (BTC) has finally crashed like we expected. It broke below the symmetrical triangle as well as the descending triangle both and has now declined even below the 200 day EMA. We have been calling for this move for weeks now but some have been calling us permabears and being overly bearish on cryptocurrencies while the reality on ground was that the situation couldn’t have been interpreted any differently. There was no other way to look at it. Sure, some people thought there were 50-50 odds of BTC/USD breaking up or breaking down but I’ve never believed in that because...

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Sally Ho's Technical Analysis 25 September 2019

Bitcoin Bitcoin (BTC/USD) saw ongoing weakness in today’s Asian session after suffering a massive depreciation late in yesterday’s North American session to the 8159.35 area, below the 8203 area that represents the 61.8% retracement of the move from 4702.53 to 13868.44.  Stops were elected at many critical levels during the downturn including the 9532.29 area, representing the 38.2% retracement of the 19891.99 – 3128.89 range. Stops were also triggered below some historical technical areas around the 9071 and 8929 levels and the move hastened below the 8488 and 8340 levels. Another important level that saw Stops triggered below it was...

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Ethereum (ETH) Eyes Further Downside After Falling Into Descending Channel

Ethereum (ETH) has declined back into the descending channel and has now closed below the 38.2% fib extension level on the 4H time frame. This is a major bearish development that hints that further downside may soon follow. Most professional traders are aware as to what is going on at this point but they might want to see a bounce to the upside for better entries to short sell. That being said, I don’t expect ETH/USD to see relief any time soon. It is very likely to decline down to the $185 mark around the 61.8% fib extension level to...

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What Is Bitcoin (BTC) Really Up To?

Bitcoin (BTC) is trading within a large pennant that bears a strong resemblance to a similar pennant from 2014. The conditions are very much the same as well. Back then BTC/USD crashed hard and then started to rally from there. When the price started to rally after the first downtrend, most traders falsely assumed that the bear market had ended. The pump after the previous downtrend made traders even more complacent and when breakout time came, the majority was very surprised when BTC/USD declined more than 73% in another brutal downtrend. It is interesting how everything is the same this...

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