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Bitcoin (BTC) Bulls Have Taken Control

Bitcoin (BTC) has declined below the descending triangle but a lot of people are suddenly expecting a fall to $8,000 or $3,000 from here. This would be useless from the market makers standpoint because they don’t want to just drag the price down to $3,000. They want to sell you a dream and make you believe that it might still recover. So, it will decline and then you would expect it to recover and then it would decline again in a way that you still remain hopeful. So, I don’t see the price falling below $9,000 because BTC/USD has found...

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Why Bitcoin (BTC) May Not Fall Below $9,000 Before Rallying Much Higher

Bitcoin (BTC) is very unlikely to fall below $9,000 before rallying much higher. If we take a look at the 4H chart for BTC/USD, we can see some fractal similarities between the price action this month and that of the previous month. There is pattern of rise and fall that is shown very clearly by the chart. I don’t consider this a coincidence because all of this is staged and it has happened in the past as well. There is no reason to think that the price of Bitcoin (BTC) is controlled by retail traders when more than 90% of...

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Sally Ho's Technical Analysis 30 August 2019

Bitcoin Bitcoin (BTC/USD) traded in a very narrow range early in today’s Asian session with a slightly weaker bias as the pair traded as low as the 9,420.90 area, just above the 76.4% retracement of the move from 8,045.54 to 13,865.23.  During yesterday’s European session, the pair traded as high as the 9,572.99 area before sinking lower.  Notably, the low early in today’s Asian session was also right around the 61.8% retracement of the recent move from 9,321.73 to 9,572.99. An additional level that traders are watching closely on the downside is the 9,376.54 area, representing the 61.8% retracement of...

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Has Ethereum (ETH) Completed Its Correction?

Ethereum (ETH) had a brutal decline in the past 24 hours. We have been talking about this decline for a while now. The price has declined and closed below the $186.15 mark and to me this is confirmation of the bearish setup at play here. That being said, it would be extremely unreasonable to talk about a bearish setup without talking about this falling wedge on the daily chart for ETH/USD. For now, this falling wedge is more significant than the descending triangle that was broken to the downside. That is because as long as this falling wedge remains valid,...

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Bitcoin (BTC) Could Still Rally Past $11,000 Even Under The Bearish Case

Bitcoin (BTC) is still very likely to rally past $11,000 even under the bearish case. It may seem a little odd to say that after recent bearish developments but the fact that it seems odd is a reason in itself why it might happen. If we look at the daily chart for BTC/USD, we can see a symmetrical triangle that has yet to be broken despite the recent crash. So, the bulls have a pretty good reason to buy the dip here and expect the price to break out of the symmetrical triangle and rally towards a new yearly high....

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