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Bitcoin (BTC) Still Remains In A Strong Downtrend

Bitcoin (BTC) still remains in a strong downtrend despite recent attempts at a breakout. The daily chart for BTC/USD shows that most attempts to break past the critical trend line resistance have failed. If this continues, the price will hit our targets below $10,000. When BTC/USD rallied during the past few weeks, it left some gaps on the way up. This gap will have to be filled sooner or later, which would be the perfect catalyst to convince most investors that the decline could extend to $8,500 or even lower levels.  We noticed Bitcoin pump a lot harder than other...

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Sally Ho's Technical Analysis 6 July 2019

Bitcoin Bitcoin (BTC/USD) moved lower early in today’s Asian session as the pair traded as low as the 10,802.00 area after fading from the 11,449.51 level during yesterday’s North American session. The intraday low early in today’s Asian session is just below the 61.8% retracement of the range from 8919.72 – 13,868.44, and the next important downside level in that range is 10,087.62.  The pair experienced a sizable decline early in yesterday’s Asian session, declining from the 11,862.20 area to the 11,035.01 level, a depreciation that accelerated after Stops were elected below the 50-bar MA (4-hourly) around the 11,456.47 level....

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Litecoin (LTC) Might Tell Us What Bitcoin (BTC) Is Going To Do Next

Litecoin (LTC) has been in a lead for the most part since the beginning of the recent parabolic run. It has been a good indicator of what BTC/USD has been doing throughout the recent rally. Now, we have LTC/USD in two descending triangles which if broken to the downside would indicate that we might see a decline in Bitcoin (BTC) as well. If we look at the 4H chart for LTC/USD, we can see that it is already below the 200 EMA. This could fall further towards the end of the week and we might see the price break below...

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What If The Bitcoin (BTC) Bubble Actually Pops This Time?

Bitcoin (BTC) has declined below the 38.2% fib extension level and is now eyeing a decline below the 61.8%. If BTC/USD does fall below that level, we might see it decline temporarily towards the 200 EMA on the 4H time frame before it eventually declines further and completes the current correction just below $8,000. This would be the steep move to the downside that we expect which will most likely be followed by a pump to the upside. After that, we will see another gradual decline kick in. Now, this is what we see on the shorter time frames and...

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Bitcoin (BTC) Risks A Fall Below $10,000

When we drew the rising wedge on the 4H chart for BTC/USD, it was just about to shoot up as we expected. It shot up soon afterwards and hit the top of the rising wedge. It then traded sideways and eventually declined well below it. Currently, it is trading below the 50 EMA on the 4H chart having closed below it. We have seen that a similar close in the recent past led to further downside. Therefore, we expect that the same could happen this time. If we take a look at the weekly chart for BTC/USD, we can see...

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