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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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EOS (EOS) Fails To Break Past $3.8 Resistance, 30% Decline Expected Ahead

Bitcoin (BTC) is primed for a massive decline from current levels but that does not even come close to what coins like Eos (EOS) might experience during their next downtrend. The altcoin market as a whole has been under fire not only from investors but also from regulators and media networks. Eos (EOS) has its own fair share of controversies but in this analysis we are more interested in the technicals rather than the fundamentals. If we take a look at the daily chart for EOS/USD, we can see that the price ran into a strong resistance at the 61.8%...

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Bitcoin (BTC) Plunges Below 21 Day EMA Amid Weakening Bullish Resolve

Bitcoin (BTC) has started the day in red and has now plunged below the 21 day EMA as the bulls seem to be losing the battle. There was an attempt to force the price up towards the top of the descending triangle but so far it has failed miserably because as I pointed out in my last analysis on Bitcoin (BTC), this was not real buying interest in the first place. It was just the market makers shaking out greedy bears which resulted in the price pumping short term. Before we delve further into this analysis think about this. How...

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Bitcoin (BTC) Remains Bearish Despite Short-lived Relief

Bitcoin (BTC) seems to have entered another bearish pennant. As much as the market makers would like us to believe that the price could rally past $11,500 again, the probability of that happening remains quite low. We now have a strong trend line resistance that the price will have a really hard time breaking past. If we take a look at the RSI, it becomes even clearer that the price is on the cusp of beginning a sharp decline. It is important to note that the RSI is a consequence of the price action and not the other way around...

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