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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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Bitcoin (BTC) Likely To See Further Upside If Rally Past $11,000 Materializes

Bitcoin (BTC) rallies quite impressively in the past 48 hours after it broke past a key trend line support turned resistance. This was a bullish development which led to the price escaping the grip of the 200 EMA on the 4H time frame and eventually rising as high as the 38.2% fib extension level. This level stands between the price beginning a downtrend from here or continuing the current uptrend past $11,000. If BTC/USD succeeds in breaking past $11,000 we are likely to see significant further upside with the price rising as high as $11,800 before it tops out. This...

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Sally Ho's Technical Analysis 3 August 2019

Bitcoin Bitcoin (BTC/USD) gave back some of yesterday’s gains early in today’s Asian session as the pair fell to 10,431.75 after escalating higher to the 10,670.00 level during yesterday’s North American session.  Steady buying activity has been seen over the past two days and the pair tested the 50% retracement of the 7,508.77 – 13,868.44 range before profit-taking ensued today. The next upside price objective relating to that range is the 11,439.05 area, and the next downside price objective relating to that range is the 9,938.16 level. BTC/USD’s upside was also capped by the 200-bar MA (4-hourly), currently indicating around...

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Ethereum (ETH) Continues To Struggle To Break Past The 200 Day EMA

Ethereum (ETH) keeps on struggling to break past the 200 day EMA but so far it has had no success. The price did manage to shoot up above the 200 day EMA but it retraced below it quickly leaving a big wick to the upside. If we take a look at the daily chart for ETH/USD, we have seen that the price has broken to the upside from the pennant seen on the chart and is now eyeing further upside. A quick look at the Squeeze Momentum indicator tells us that the bears are on the verge of losing control...

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