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Bitcoin (BTC) Struggles To Break Past $10,500 Amid Declining Bullish Euphoria

Bitcoin (BTC) struggles to break past $10,500 as the price has faced a strong rejection at the 38.2% fib retracement level. Meanwhile, the Fear and Greed Index has declined to 20 from 31. The price has topped out as can be seen on the 1H chart for BTC/USD and it is only a matter of time before we see it decline from current levels. That being said, we cannot discount a move past the 38.2% once again but even if that happens there is another strong resistance at $10,642. In other words, it is not going to be easy for...

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Sally Ho's Technical Analysis 17 August 2019

Bitcoin Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair escalated higher to the 10,321.01 level after steady buying activity emerged during yesterday’s European and North American sessions.   The pair has traded as low as the 9,470.00 level this week, its weakest print since late July and a level that is right around the 50% retracement of the move from 5,072.01 to 13,868.44.  BTC/USD continues to trade below its 50-bar MA (4-hourly), 100-bar MA (4-hourly), and 200-bar MA (4-hourly), and is trading between its 50-bar MA (hourly) and 100-bar MA (hourly). Following the pair’s recent sell-off, traders are...

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Litecoin (LTC) Stays Strong Above $70 But Bigger Threats Loom Over

Litecoin (LTC) has done a really good job at holding its ground above $70 but that should not be confused for a bullish momentum long term. In fact, the manner in which LTC/USD is holding this level will only pave the way for a short term relief rally but that’s all it is going to achieve. Litecoin (LTC) is extremely unlikely to rise to a new yearly high from here. Recent moves have exposed its game plan and it has now broken below critical trend line supports which means that further downside is very likely after a short term relief...

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Bitcoin (BTC) Likely To Fall Below $9,500 Again As Bulls Lose Control

Bitcoin (BTC) is trading within a bear flag that could soon break to the downside and then the price would be on its way to fall down to $9,473 again. We have been expecting a retest of this level and it is likely that it may happen soon. However, it is important to note that there is too much uncertainty in the market. Traders are unsure as to which way the price could go from here and that is seen in the form of extreme volatility in the market. There have been a lot of misleading moves today. At first,...

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Bitcoin (BTC) Bulls Get Too Confident, Too Soon

Bitcoin (BTC) attempted to test the 50 day EMA but it failed miserably and the price declined before BTC/USD could actually test that level. This means that we are likely to see the price form another candle to the downside and maybe we might not see bullish recovery until next week. It is still possible though for the price to test the 50 day EMA tomorrow or the day after because we still have two more days left before the weekly close. If we take a look at the 15 minutes chart for BTC/USD it all begins to make sense...

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