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Bitcoin (BTC) Tops Out, Price Primed For Devastating Downside From Here

Bitcoin (BTC) is primed for significant further downside from here now that it has completed the big move to the upside and ran into a strong resistance. In my opinion, the price has either topped out here or very close to topping out. In other words, I don’t see it rising to $11,000 from here but if it did as a trader I would be prepared for that outcome. Now, the reason I expect BTC/USD to decline from here is because this is the same fractal the price printed in 2014 before its decline. The price has also retested the...

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Sally Ho's Technical Analysis 3 September 2019

Bitcoin Bitcoin (BTC/USD) extended recent gains early in today’s Asian session as the pair climbed to the 10486.77 level in a show of strength that erased all of the losses incurred after the sharp depreciation from the 10277.00 figure last week.  The pair tested a recent relative high from 23 August and then retreated lower. Stops were elected above the 10,083.05 area during the appreciation, representing the 100-bar MA (4-hourly).  The break above the psychologically-important 10,000 figure now opens up additional upside price targets and objectives. Stops were also triggered above the 200-bar MA (hourly) during the climb higher, then...

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Ethereum (ETH) Might Rally Higher For Now But A Brutal Crash Is Inevitable

Ethereum (ETH) is holding strong above $163.55 for now as it trades within a falling wedge. We have been discussing this wedge and it is still very likely to break to the upside. However, if we zoom out a bit and look at the potential descending triangle that could be forming on the chart, we become more cautious because this move might have run its course. Even if it hasn’t yet, ETH/USD is very close to running its course and it would be very unreasonable to chase the price here expecting a bigger move to the upside. That being said,...

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What EUR/USD Tells Us About The Near Term Price Action In Bitcoin (BTC)

The Euro (EUR) has been showing signs of weakness and we have long expected it to begin its downtrend against the US Dollar (USD). For the past few months, it has been stalling a sharp move to the downside but last month it happened and EUR/USD declined aggressively not just below the descending triangle but also below the symmetrical triangle or pennant that we see on the daily chat for EUR/USD. It is important to note that EUR/USD is currently trading below the 21 EMA which is why it declined so aggressively below the pennant. I call the 21 EMA...

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Why Chasing Bitcoin Is Not Worth It

Bitcoin is back above $9,700 and we are now likely to see it rally past $10,000. The price ended up testing the $9,830 level before it retraced from there. We are likely to see further upside follow from here in the near future. The daily chart for BTC/USD shows a symmetrical triangle that the price is very close to breaking out of. Either we might see a break to the upside or a break to the downside but we have to see it do either of the two most likely before the end of the month. In addition to that,...

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