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Bitcoin (BTC) Primed For A Big Fall From Here

Bitcoin (BTC) has closed the day below the 50 day EMA again but this time the circumstances are quite different. Instead of beginning the next day in green, BTC/USD has begun the next day in red and is now on the verge of further downside that could push the price all the way down to the 61.8% fib extension level from the December, 2018 lows. We expect the price to end up closing above the 200 Day EMA where it is likely to find temporary support before any move to the upside can be expected. The price has broken a...

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Sally Ho's Technical Analysis 24 July 2019

Bitcoin Bitcoin (BTC/USD) depreciated early in today’s Asian session as traders drove the pair to the 9,606.00 area following some strong selling pressure that emerged around the 10,216.33 area.  Selling pressure intensified during yesterday’s Asian session after BTC/USD encountered technical Resistance around the 10,367.06 area, representing the 38.2% retracement of the move from 4,702.53 to 13,868.44. Offers then emerged around the 50-bar MA (4-hourly) and the pair was driven lower to the 9,948.12 area during yesterday’s session, a key historical technical level. BTC/USD was unable to move back above the 10,234.22 area during a brief rebound and then Stops were...

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Ethereum (ETH) Finally Declines Below The 21 Week EMA As Bears Take Control

Ethereum (ETH) has declined below the 21 week EMA at last and is now struggling to defend the 200 Week EMA. If ETH/USD ends up declining below the 200 Week EMA, we are not likely to see the 61.8% fib extension level hold it again. In fact, the price could fall straight through it and decline a lot lower because this time, the uptrend that started in December, 2018 would be formally broken. If we take a look at the weekly chart, the price declined well below the 21 Week EMA last week but it ended up closing above it....

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Bitcoin (BTC) Slides Below $10,000 To A Four Digit Price Again

Bitcoin (BTC) has once again declined to a four digit price contrary to overly bullish expectations. A lot of traders almost bought the idea that this may never happen again but then the price kept on revisiting the 50 day EMA and the bullish resolve kept getting weaker till the price eventually declined below this level. So, what does this mean? It means that if BTC/USD ends up closing below the 50 Day EMA for the second time within the past two weeks, chances are it is going to go down a lot harder. Market makers have done a good...

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Bitcoin (BTC) Keeps Stalling A Move To The Downside

Bitcoin (BTC) has closed the day above the 50 day EMA unlike Ethereum (ETH) which ended up closing below the 200 day EMA. This could be an indicator of further downside to come even though BTC/USD keeps on stalling a move to the downside. However, it keeps on revisiting the 50 day EMA and the more it keeps on testing it, the more it risks falling below it. Bitcoin (BTC) has begun the day in red and it could fall below the 50 day EMA if the price fails to recover quickly from here. The price is at a turning...

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