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Sally Ho's Technical Analysis 29 August 2019

Bitcoin Bitcoin (BTC/USD) was relatively quiet early in today’s Asian session following its massive depreciation late in the North American session that saw the pair decline below the psychologically-important 10,000 figure and reach the 9522.93 area, just below the 38.2% retracement of the 19,891.99 – 3128.89 range. The technical Bids that emerged around yesterday’s daily low pushed the pair back to the 9749.40 area, shy of the 9765.83 that remains a technical level.  The move lower also pushed the pair further below the 50-bar MA (4-hourly) and 50-bar MA (hourly). Stops were elected below the 9880.59 area during the move...

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Ethereum (ETH) Remains On The Verge Of A Crippling Downtrend

Ethereum (ETH) remains in a strong downtrend. We might see a short term move to the upside that might shake out the bears hoping for the price to fall like a rock from here. However, that does not change the long term outlook. ETH/USD could rise even higher than $200 from here to test the 200 EMA on the 4H time frame before it does the inevitable and breaks market structure. The bears need to be prepared for this outcome and they need to plan their entries accordingly. As for the bulls, that fake out to the upside might be...

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Bitcoin (BTC) Bulls Should Prepare For A Short-term Surprise

Bitcoin (BTC) bears are fixated on the descending triangle on the 4H chart for BTC/USD and there is nothing wrong with that. It is a pattern that I eventually expect to play out but not before some greedy bears are shaken out and some greedy bulls are trapped in. There is a reason we see an overlapping symmetrical triangle and a descending triangle on the Bitcoin (BTC) chart. It is at turning points like these that market makers make the most money. Most traders have a greed problem. They would enter a position here hoping and praying for a breakout...

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Is Bitcoin (BTC) Going Up Or Down?

Bitcoin (BTC) price action is marred by indecision. We are looking at the 4H chart for BTC/USD and we can see that the price has yet to break out to either side. We have long been talking about a descending triangle on BTC/USD but I think it is important to note that the symmetrical triangle on the BTC/USD chart is equally significant. While I do not agree that we are going to rally from here, I still think the symmetrical triangle is important because a lot of people are counting on it for the price to break to the upside....

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Sally Ho's Technical Analysis 28 August 2019

Bitcoin Bitcoin (BTC/USD) marched lower early in today’s Asian session as the pair retreated to the 10,105.02 area after encountering some selling pressure around the 10,232.13 area late in yesterday’s North American session, just below the 50% retracement of the move from 6,600 to 13,868.44.  Traders took the pair as low as the 10,019.56 area during yesterday’s North American session following some selling pressure that emerged around the 10,395.77 area during yesterday’s Asian session. These Offers were a little bit above the 10,367.06 area, representing the 38.2% retracement of the move from 4,702.53 to 13,868.44. Market sentiment for BTC/USD continues...

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