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Sally Ho's Technical Analysis 10 July 2019

Bitcoin Bitcoin (BTC/USD) extended recent gains early in today’s Asian session with the pair trading as high as the 12,680.00 level following some buying activity that was reignited during yesterday’s European session around the 12,105.32 area. Demand intensified late in yesterday’s Asian session heading into yesterday’s European session and the pair traded as high as the 12,829.96 area, just below a retracement area that represents the 76.4% retracement of the recent move from 13,868.44 to 9,651.00. The next relevant level related to that range below current market activity is the 12,257.38 area. Early in today’s Asian session, the pair was...

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Litecoin (LTC) Price Action Hints At Further Downside For Bitcoin (BTC)

Bitcoin (BTC) started the day in green and kept on surging while Litecoin (LTC) continued to decline. This is because LTC/USD closed below the 21 Day EMA yesterday which was a bearish close that was indicative of further downside in the near future. Litecoin (LTC) started the day in red and has continued to decline. It might find temporary support on the 50 Day EMA but sooner or later we expect it to break below the descending triangle to begin its downtrend. This might lead to the price falling to new lows for the year eventually but before that happens,...

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Bitcoin (BTC)’s Parabolic Advance Seems To Have Come To An End

Bitcoin (BTC)’s parabolic advance seems to have come to a halt all of a sudden after a strong rally past our $12,500 target. However, on closer observation, we can analyze why this might have happened and what it entails. Before we delve into that, let us first take a look at the monthly chart for EUR/USD. We can see right away that the pair is in a strong downtrend. It has been in this downtrend since the global financial crisis of 2008-09. Over the years, government and businesses have gotten used to this model and it is unlikely to be...

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Is The Bitcoin (BTC) Top Finally In?

Bitcoin (BTC) has shot up around 15% in the last 48 hours. This is the kind of move that we expected and we discussed this many a time in our analyses this month as well as last month. We expected a rally slightly above the 61.8% fib retracement level before the price tops out and that is exactly what happened. The price is now likely to decline from where which will be considered as a healthy pullback by overly bullish retail traders but it will in fact be the beginning of a new downtrend. If we compare the current parabolic...

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Sally Ho's Technical Analysis 9 July 2019

Bitcoin Bitcoin (BTC/USD) strengthened early in today’s Asian session as the pair traded as high as the 12,356.98 area after steady buying interest commenced during yesterday’s Asian session. The pair tested the 12,367.56 area, representing the 23.6% retracement of the 7,508.77 – 13,868.44 range. Many chartists expect that level will soon be breached with the next key upside levels being around the 12,494.99 and 12,700.54 areas. The pair managed to find some technical Support around the 100-bar MA (4-hourly) during yesterday’s Asian and European sessions. BTC/USD bulls are eyeing a couple of additional upside price targets including the 12,873.12 area,...

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