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Sally Ho's Technical Analysis 22 August 2019

Bitcoin Bitcoin (BTC/USD) added to its recent positive sentiment early in today’s Asian session as traders continued to battle with some important technical levels that will define the market’s short-term bias. Notably, market activity continues to make strides above the psychologically-important 10,000 figure as traders continue to push towards the 11,000 figure. The market’s recent bounces above key levels including the 9,765/ 9,938/ 10,268/ 10,646 areas have been supportive of price activity over recent trading sessions. Traders have been attempting to establish a foothold above the 50-bar MA (4-hourly) for several sessions, and traders are attempting to test the 100-bar...

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Falling Ethereum (ETH) Dominance Spells Trouble For Altcoins

Ethereum Dominance (ETH.D) is on a steady decline. It ran into our fib circle but faced a strong rejection on retest and has now declined even below the 7.78 support. That support has now turned into a strong resistance and this bearish development spells trouble for the altcoin market especially the ICOs that are tied to Ethereum (ETH). It would be unreasonable to jump to conclusions and say that Ethereum (ETH) is going to zero but this does mean that the price is going to be hammered hard in the weeks and months ahead. The daily chart for Ethereum Dominance...

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Bitcoin (BTC) All Set To Decline To $9,100 From Here

Bitcoin (BTC) is all set to decline to a four digit price. The probability of it rallying towards $11,000 is slim at this point as it seems determined to decline below the key 61.8% fib extension level. The 61.8% fib extension level was previous a support but now it has been tested as resistance and the price has faced a rejection there. It is important to note that not only is BTC/USD likely to decline towards the bottom of the descending triangle but it is expected to break below it during this upcoming move. This would see the price find...

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Has Bitcoin (BTC) Begun Its Downtrend?

Bitcoin (BTC) has declined way below the 21 day EMA as well as the 50 day EMA. This has now paved the way for further downside in the days ahead. The price has found temporary support at the 61.8% fib extension level but it is a long way from declining further. If we look at the price action in the recent past, we can see that similar declines have happened before. The price did end up declining more than 23% in one day recently and if something like that were to happen again, BTC/USD would decline towards the bottom of...

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Sally Ho's Technical Analysis 21 August 2019

Bitcoin Bitcoin (BTC/USD) continued to gain ground above the psychologically-important 10,000 figure early in today’s Asian session as traders continued to advance towards the 11,000 figure.  Short-term bias has firmed in the favour of BTC/USD Bulls over the past several days ever since the pair bounced higher from the 9,470.23 level on 15 August, representing the 50% retracement of the move from 5,072.01 to 13,868.44.  Bids then firmed up market sentiment around the 9,765, 9,938, 10,268, and 10,646 levels, leading to price appreciation. Traders have been attempting to establish a foothold above the 50-bar MA (4-hourly) for several sessions, and...

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