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Sally Ho's Technical Analysis 11 August 2019

Bitcoin Bitcoin (BTC/USD) continued to search for direction early in today’s Asian session as traders continue to keep the pair confined to a relatively tight range.  BTC bulls continue to eye the psychologically-important 12,000 figure, especially after several recent tests of the technically-important 11,978.03 area, representing the 38.2% retracement of the move from 8,919.72 to 13,868.44. BTC bears continue to find headwinds around the 11,439 and 11,394 areas, both of which represent important technical levels. Additionally, the 50-bar MA (4-hourly) is now indicating around the 11,415.93 level. Below these areas, Bids appear to be stronger around the 11,136.82 area, representing...

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Why Bitcoin (BTC) Broke Below The Pennant And What Happens Next

Bitcoin (BTC) has finally broken below the pennant but a lot of investors are worried as to why that might have happened. Before this drop actually happened, I posted a similar chart on Twitter saying, “If you want to determine which way BTC/USD is going to break, you need to determine who benefits if it goes up and who benefits if it goes down.” If you look at the Longs vs. Shorts ratio, retail traders were 73% long and 27% short on Bitcoin (BTC). That difference has now declined to 68%-32% in favor of longs but it is still quite...

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Sally Ho's Technical Analysis 10 August 2019

Bitcoin Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair climbed to the 11,945.00 area after finding technical Support around the 11,645.32 area during yesterday’s European and North American sessions, representing the 38.2% retracement of the move from 8,048.75 to 13,868.44.  Bulls continue to chip away at the 11,978.03 area, a level that has served as technical Resistance over the past several trading sessions with a little bit of trading activity above it. The pair continues to trade well above its 50-bar MA (4-hourly) and continues to oscillate above and below its 50-bar MA (hourly). The 11,950 level...

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Ethereum (ETH) Tumbles To A New Low Against Bitcoin (BTC)

Ethereum (ETH) has just declined to a new low against Bitcoin (BTC). We have not seen it declined this low against Bitcoin (BTC) since the beginning of the bear market. It appears that ETH/BTC is now prepared to decline to the pre-bull run levels of 2017 effectively erasing most of its gains. Needless to say, things do not look good for Ethereum (ETH) and the rest of the altcoin market. Investors still have some hope in Bitcoin (BTC) as it is holding its ground better compared to Ethereum (ETH) but they have no confidence in Ethereum (ETH) which is shown...

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Bitcoin (BTC) Has Yet To Decline Like The Rest Of The Market

Usually, we see the market dance to the tunes of Bitcoin (BTC) but that is not what happened recently as altcoins started to decline while Bitcoin (BTC) was still holding its ground. In fact, a comparison of the 4H chart for BTC/USD and ETH/USD would make that difference very clear. Anyway, we have yet to see a meaningful bearish breakdown in Bitcoin (BTC). So far, it is trading in a pennant and traders are of the view that this could break to the upside just as it could to the downside although the RSI points to the latter. A lot...

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