Hot Topics

Advertisement

Advertisement

Bitcoin (BTC) Is Waiting On EUR/USD For Its Next Big Move

Bitcoin (BTC) made a big move to the upside after yesterday’s close that gave investors the false idea that the price had broken out of the symmetrical triangle and the descending channel both. However, it was nothing more than a fake out as the price fell back inside the descending channel erasing most of its gains. The bulls and bears are heavily divided here because this a major turning point. If the price goes up from here, the bearish resolve will be seriously weakened. On the other hand, if the price falls down from here that will be game over...

Read More

Sally Ho's Technical Analysis 26 August 2019

Bitcoin Bitcoin (BTC/USD) moved sharply higher early in today’s Asian session as traders pushed the pair to the 10,680.00 level, its strongest print since 20 August.  Stops were elected above several key levels, including the 10,367.06 area, representing the 38.2% retracement of the move from 4,702.53 to 13,868.44 and one that had proven to be tough technical Resistance over the most recent trading sessions.  Traders also triggered Stops above the 100-bar MA (4-hourly), the pair’s first move above this level since 13 August. The pair bounced higher just above the 9,938.16 area over the weekend, a level that represents the...

Read More

Litecoin (LTC) Likely To Decline Further But Significant Upside Might Soon Follow

Litecoin (LTC) is due for major downside from current levels. The price has already declined below the 61.8% fib retracement level from the last top of the previously broken market structure. It is now eyeing a decline to the 38.2% fib retracement level around $50. We are likely to see this move come to fruition as LTC/USD is already trading below its 50 day EMA as well as the 21 day EMA. However, the 38.2% might serve as a strong support short term not only because it is the 38.2% fib retracement level but also because it coincides to the...

Read More

Sally Ho's Technical Analysis 25 August 2019

Bitcoin Bitcoin (BTC/USD) continued to consolidate recent gains early in today’s Asian session as the pair traded back below the psychologically-important 10,000 figure following its recent move to a relative high of 10,478.00.  Stops were elected below the 10,033.66 area during the move lower, representing the 61.8% retracement of the move from 9,759 to 10,478.  Bids emerged around the 9,880.59 area, representing the 61.8% retracement of the move from 7,427 to 13,850. BTC/USD Bears also triggered Stops below the 10,218.54 area during the pullback, the area where the 50-bar MA (hourly) was then indicating.  The pair’s short-term outlook and bias...

Read More

Bitcoin (BTC): The Worst Has Yet To Come

Bitcoin (BTC) saw a massive decline in price after it failed to close day above the 50 day EMA. This has panicked a lot of bulls who expected the price to rally past $11,000 in the days ahead. However, most of the bulls do not realize that this is nothing compared to what has yet to come. These moves are just temporary shakeouts before the price does the inevitable and declines below the descending triangle. The recent move towards the 50 day EMA was aimed at shaking out the bears. As we can see on the daily chart for BTC/USD,...

Read More