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Ethereum (ETH) Primed For More Than A 60% Correction From Current Levels

Ethereum (ETH) has failed to capitalize on the falling wedge in the face of rising bearish momentum as the bulls fail to push the price past an important trend line resistance. We are now in a clear downtrend as shown by the trend line resistance on the daily chart for ETH/USD as well as on the RSI. The next fall from here would be down to the 61.8% fib extension level which would coincide with a price of $144. I see the price declining well below that eventually to complete more than a 60% correction from here that will see...

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Bitcoin (BTC) All Set To Decline Below $10,500 As Breakout Attempt Fails

Bitcoin (BTC) bulls to fail the do or die level of $10,800 and now it is all set to decline below $10,500. If the price ends up falling below $10,000 this time, all bets are off. A lot of traders would realize that the price is going to go much lower from there. However, those that are super bullish would consider it a minor pullback to buy the dip and they will get trapped in before the next downtrend. The symmetrical triangle on the chart shows how the price got stopped out close to the line of bisection of the...

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Bitcoin (BTC) Has Finally Begun Its Downtrend

Bitcoin (BTC) is trading within a symmetrical triangle and a descending triangle at the same time. It has to break out in the weeks ahead. The bulls expect it to break higher while the bears expect it to break lower. Either way, this is the last phase of this tug of war between the bulls and the bears. After this, one of the sides will have a clear victory. If we look at the daily chart for BTC/USD, we can see a large descending triangle that is very likely to break to the downside this time. Some investors were surprised...

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Sally Ho's Technical Analysis 4 September 2019

Bitcoin Bitcoin (BTC/USD) depreciated slightly early in today’s Asian session as the pair receded to the 10522.50 area after trading as high as the 10790.00 area late in yesterday’s European session. Yesterday’s daily high was just below the 10810.13 level that represents the 61.8% retracement of the 8919.72 – 13868.44 range.  The pair has been orbiting the 200-bar MA (4-hourly) for the last couple of sessions and chartists are keen to observe whether a constructive base can be established around this area. One clue emerged yesterday about the pair’s short-term upward bias when Bids emerged above the 10269.89 area, representing...

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Ethereum (ETH) And Other Altcoins Threatened By Rising Bitcoin Dominance

Bitcoin dominance has been on a steady rise much to the disappointment of Ethereum (ETH) and other altcoins as this invalidates the bullish case. A lot of people were expecting Bitcoin Dominance (BTC.D) to start its downtrend from 70% but that did not happen and now it is above the 200 Week EMA. All of a sudden the bulls are not talking about it because it does not suit their agenda. Bitcoin dominance would not be rising in this manner if we were in a bull market. The fact that it is rising tells us that the market is primed...

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