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Bitcoin (BTC) Finally Tops Out, Likely To Begin Its Next Downtrend From Here

Bitcoin (BTC) has rallied significantly in the past 24 hours and has now run into an important resistance zone around $11,816. This is the level that served as the point of rejection during the bear trend of early 2018. We saw it lead to a 43% decline in BTC/USD just after it had topped out for the third time. We have a very similar situation here as Bitcoin (BTC) has topped out for the third time here as well and interestingly enough, it is at the same level that it topped out for the third time during early 2018. Does...

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What Happens After Bitcoin (BTC)’s Recent Rally?

Bitcoin (BTC) has finally made a big move to the upside as the price is now well above $11,000. We expected this move and in our last analysis on BTC/USD, we said that if the rally past $11,000 materializes we are likely to see further upside. It finally happened and Bitcoin (BTC) shot quickly past $11k and has now run into a strong resistance at the 61.8% fib retracement level around $11,600. This is by no means going to be easy to breach and the price is more likely to begin a downtrend from here. If we take a look...

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Sally Ho's Technical Analysis 5 August 2019

Bitcoin Bitcoin (BTC/USD) rocketed higher early in today’s Asian session as the pair advanced to the 11,258.88 level, its strongest showing since 14 July, and right around an important technical level that represents the 38.2% retracement of the move from 13,868.44 to 9,651.00.  The test of this area is technically relevant and chartists are eyeing that range’s next upside target around the 11,759.72 area with another upside target around the 12,257.38 level.  The pair is now comfortably trading above the 200-bar MA (4-hourly), and the 50-bar MA (4-hourly) and 100-bar MA (4-hourly) continue to converge. Traders elected Stops above the...

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Ethereum (ETH) Bear Flag Points To Devastating Downtrend Ahead

Ethereum (ETH) is on the verge of a major downtrend. Many analysts are busy talking about the next bull run or a golden cross on the 3D chart but they so conveniently choose to ignore this major bear flag on the weekly chart that has a history of ending very badly. If we take a look at the weekly chart for ETH/USD, we can see that the price is already trading below the 21 Week EMA and is now likely to close its ongoing week before the 21 Week EMA as well. The RSI has broken a key uptrend and...

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Sally Ho's Technical Analysis 4 August 2019

Bitcoin Bitcoin (BTC/USD) continued to consolidate recent gains below the psychologically-important 11,000 figure following its recent move higher early in today’s Asian session.  During yesterday’s European session, the pair again tested and traded above the 10,810.13 area, representing the 61.8% retracement of the move from 8,919.72 to 13,868.44.  Market activity then found demand around the 10,688.61 level, representing the 50% retracement of the 7,508.77 – 13,868.44 range. Stronger Bids emerged around the 10,367.06 level, representing the 38.2% retracement of the move from 4,702.53 to 13,868.44. Additional Bids then emerged later in the Asian session around the 10,508.20 level, itself an...

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