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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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Sally Ho's Technical Analysis 16 August 2019

Bitcoin Bitcoin (BTC/USD) gained a little bit of ground early in today’s Asian session as the pair escalated higher to the 10,154.74 level following another sharp move lower overnight that saw the pair test the 9,470.00 level, its weakest print since late July.  The pair was unable to get back above the 10,234.22 area during yesterday’s Asian session and European session, representing the 50% retracement of the move from 6,600 to 13,868.44.  Bids emerged around the 9,470.23 level during today’s Asian session to reverse the quick decline lower, representing the 50% retracement of the move from 5,072.01 to 13,868.44.  The...

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Ethereum (ETH) Holds Key Support But Bearish Setup Remains Intact

Ethereum (ETH) declines to a key support against Bitcoin (BTC) and so far it has successfully held that support. The weekly chart shows that ETH/BTC completed its correction when the price declined to the 1.618% fib extension level. The price is now expected to rise towards the 1.272% fib extension level from here but this does not mean that the price is out of the woods just yet. All it means is that Ethereum (ETH) could test the top of this descending channel once again just like it did the last time. In order for us to turn bullish on...

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Bitcoin (BTC) To See Some Upside After A Devastating Correction

Bitcoin (BTC) has completed its big move to the bottom of the descending triangle. The price plunged below $10,000 and touched our target of $9,482 before it bounced back up. It is now expected to keep going up from here till it reaches the top of the descending triangle again. This recent crash in BTC/USD was triggered by a break below the fib circle on our weekly chart. Soon as it broke below this circle, it declined below $10,000 and completed the move towards the bottom of the descending triangle in one go. As this move is now complete, we...

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