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Sally Ho's Technical Analysis 2 August 2019

Bitcoin Bitcoin (BTC/USD) scored decent gains early in today’s Asian session as the pair escalated higher to the 10,497.00 figure, just below the 10,508.20 area that represents the 38.2% retracement of the 5,072.01 – 13,868.44 range.  Prior to testing this important level, the pair traded as high as the 10,348.41 level during yesterday’s North American session, right around the 38.2% retracement of the move from 4,702.53 to 13,868.44. The pair’s testing of those levels and technical Support above the 10,271 level suggest an upside short-term bias that could propel market activity higher. BTC/USD traded above and below its 100-bar MA...

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The Next Few Days Are Going To Be Decisive For Ethereum (ETH)

Ethereum (ETH) is on the verge of a decisive breakout. The price did end up rallying hard yesterday but it was more of a Fakeout. We have already seen it reverse some of those gains. Now the price is back inside the pennant and we are back to square one trying to figure out what is likely to happen next. Basically, we have two possibilities here. Either the price breaks to the upside and gets stopped out at the21 Day EMA or the 50 Day EMA which will then be chalked as a fake out or the price falls straight...

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Is Bitcoin (BTC) Ready To Decline Straight Towards $7,200?

Bitcoin (BTC) is ready to test the trend line resistance once again having faced a strong rejection at it already after it closed below it. This trend line resistance stands between Bitcoin (BTC)’s next downtrend and a short term rally to the upside. If the price succeeds in breaking above this resistance, we might see it rally as high as $11,800 before it declines. However, the probability of that happening remains very low. The most likely scenario is that we might see further downside from here once the price retests this trend line resistance and faces a rejection again. Now,...

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Beware Of Temporary Manipulation In Bitcoin (BTC)

Bitcoin (BTC) started the day in red and is already trading below the 50 day EMA. It is going to be very interesting to see how it turns out, whether we could see another move up before the downtrend begins or if the price is just going to fall straight to mid $8000s from here. However, what’s more interesting than that is the way the price rallied yesterday. We saw the Fed cut interest rate for the first time since the 2008 financial crisis. This was a major even which had a serious impact on major financial markets. Usually the...

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Sally Ho's Technical Analysis 1 August 2019

Bitcoin Bitcoin (BTC/USD) extended recent gains early in today’s Asian session as the pair traded as high as the 10,135.12 area following its move back above the psychologically-important 10,000 figure during yesterday’s North American session. Some Bids emerged right around the 50-bar MA (4-hourly) during yesterday’s European session when it was indicating around 9,716 area, and some Stops were elected during yesterday’s North American session when the pair moved above the 100-bar MA (4-hourly). The move higher to levels where BTC/USD bulls may try to establish demand above the 100-bar MA (4-hourly) may provide it with the catalyst to test...

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