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Why Bitcoin (BTC) Remains More Bearish Than Ever Despite Recent Pumps

Professional traders are net 15% short on Bitcoin (BTC) while retail traders are insanely bullish on Bitcoin (BTC). Even some of these digital hedge funds are overly bullish on BTC/USD. So, why are they this bullish? Well, the pumps that the price has seen over the past few weeks has convinced even some of the most risk averse investors in this market to turn bullish on Bitcoin (BTC). Renowned investors, Charlie Munger and Warren Buffet have both vehemently criticized Bitcoin (BTC) so much as to call it “Rat Poison” and “Rat Poison Squared”. We might say that they do not...

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What’s Next For Bitcoin (BTC) After The Recent Rally?

Bitcoin (BTC) has shot up during the past 48 hours and it is has now tested the 61.8% fib retracement level as well as a strong resistance at $13,892. Many traders are wondering what happens from here on out. The sentiment is close to an all-time high with the Fear and Greed Index at 92 but that has not stopped investors from expecting the price to shoot up towards new all-time highs. They still think the price could rally towards the previous all-time high and shoot up higher from there. Now, there is not much to believe why that could...

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Sally Ho's Technical Analysis 27 June 2019

Bitcoin Bitcoin (BTC/USD) traded in an extremely volatile manner early in today’s Asian session as the pair fell to the 11350 area after trading as high as the 13868.44 area late in yesterday’s North American session. Buying activity started in size during yesterday’s Asian session and it accelerated during yesterday’s European and North American sessions, driving BTC/USD to its strongest print in 2019. Significant Stops were elected above the 11,510.44 area, representing the 50% retracement of the 19,891.99 – 3,128.89 range, and then above the 13,488.49 area, representing the 61.8% retracement of the same range. Yesterday’s trading activity was some...

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Ethereum (ETH) And Other Altcoins Risk Extreme Capital Flight

Bitcoin (BTC) dominance has reached has reached 61%. This is something we have not seen in a long time. The market is frustrated that Bitcoin (BTC) keeps on shooting up while altcoins like Ethereum (ETH) lag behind. If we look at the weekly chart for ETH/USD, we can see why it has been lagging behind. The price is trading in a large ascending triangle as well as a horizontal resistance around $340. The price is very likely to start falling from here and if it ends up breaking below the ascending wedge, we will see it decline to the bottom...

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What If Bitcoin (BTC) Is In A Multiyear Bear Market?

Bitcoin (BTC) might be in a multi-year bear market and we have good reason to believe that this might be a case. There is a lot of noise and confusion on the shorter time frames but the big picture always shows us everything in a crystal clear manner without any ambiguities. If we look at the monthly chart for BTC/USD without using any fancy technical analysis tools but just drawing a simple trend line, we see two things. The first thing we see is that when BTC/USD broke and closed below the 21 Month EMA for the first time since...

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