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Bitcoin (BTC) Likely To Plunge Below $10,000 In The Weeks Ahead

Bitcoin (BTC) has already begun its downtrend to the bottom of the descending triangle and the price has just broken below the fib circle on the weekly chart. It would not be surprising to see the price decline straight to the bottom of the descending triangle in a matter of one or two weeks. It could take longer but we are most likely to see a sharp decline which will serve two objectives. Firstly, it will discourage shorts from stacking up. Secondly, it will create the right conditions for a bounce up towards the top of the descending triangle again....

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Sally Ho's Technical Analysis 13 August 2019

Bitcoin Bitcoin (BTC/USD) hovered around some important technical levels early in today’s Asian session as the pair continued to trade in a narrow range, much as it has over the past several trading sessions.  Traders briefly pushed BTC/USD above the 50-bar MA (4-hourly) during yesterday’s Asian session before it receded back below the 11,262.06 area during yesterday’s European session, a level that represents the 38.2% retracement of the move from 13,868.44 to 9,651.00.  Bids emerged around the 11,222.40 area during the retracement higher, just above the 76.4% retracement of the move from 11,088.88 to 11,585.00.  The pair continues to trade...

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Ethereum (ETH) Primed For A Sharp Decline Even Under The Bullish Case

Ethereum (ETH) is ready to decline even under the bullish case. As much as the bulls would like to think that the price is going to shoot past the strong trend line resistance shown on the daily chart for ETH/USD, I think the next few days are going to show them that it is not going to happen. Instead, they will see that the price is declining and when that begins to happen, you will see a lot of popular accounts on Twitter drawing this falling wedge on their charts. Now, there is a descending channel that could be drawn...

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Bitcoin (BTC) Still On Track To Bottom Between $1,200-$1,800 By June 2020

Bitcoin (BTC) is ready to crash hard soon as it breaks below the fib circle that the price is trading close to. On smaller time frames, we can see that the price is in fact trading within a large descending triangle which is very likely to break to the downside and trigger the next downtrend. For seven weeks now, BTC/USD has been consistently trying to break past the 38.2% fib extension level but it has failed miserably. This shows us that the price is not ready to break above $12k as there are a lot of seller eager to sell...

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Bitcoin (BTC) Remains At High Risk Of Further Selloff

Bitcoin (BTC) has invalided the short term downtrend as we have seen it break the RSI downtrend but it still remains at risk of significant further sell off. The price action on the 4h chart can be quite misleading as it would have investors think that the market is on the cusp of an uptrend. Bitcoin (BTC) is up more than 2% while Ethereum (ETH) is up close to 5% at the time of writing. This would lead many traders into believing that we are about to see further upside but that couldn’t be further from the truth. In fact,...

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