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EUR/USD Near Term Outlook Points To Further Upside In Bitcoin (BTC)

The Fiber (EUR/USD) has recently been through an extensive correction that has now seen it retrace to the top of the descending triangle it escaped from earlier. As the pair has found strong support on the previous resistance turned support, we can expect it to continue rallying from here especially as the pair is likely to just break out of a falling wedge. This breakout could result in a completion of the ABCD pattern drawn on the 4H chart for EUR/USD. Recent stance taken by ECB President, Mario Draghi hints that further rate cuts might be on the way for...

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CryptoDaily Large-Cap Index Leads Indices Lower

The CryptoDaily Large-Cap Cryptocurrency Index fell to 33.16 on Tuesday from 34.08 on Monday, a 2.7% decline from the previous day.  The Large-Cap Index is up +8.69% over the past 7 days and is up +17.05% over the past 30 days. Cosmos (ATOM) led the Index lower, falling 5.7% to a market capitalisation of US$ 1.26 billion as traders continue to react to news about last month’s “critical security vulnerability” that may have enabled hackers to avoid certain penalties for misbehaviour on the network. Chainlink (LINK) was also off 5.3% while Zcash (ZEC) led the gainers with a +10.3% gain....

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What If Bitcoin (BTC) Is About To Top Out?

Bitcoin (BTC) has started to show weakness just when everyone expected it to rally higher. A quick glance at the top twenty cryptocurrencies shows us that there is blood on the streets. Now, one could argue that this is just the market cooling off before the next run up but let us not forget that the price has been at major risk of a sharp decline for weeks. The Fear and Greed Index is down only one point from yesterday but sentiment does not take time to change in this market. Taking a look at Crypto Daily Indices, we can...

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Sally Ho's Technical Analysis 19 June 2019

Bitcoin Bitcoin (BTC/USD) encountered some buying pressure early in today’s Asian session as the pair moved back to the 9140.00 area after steadily drifting lower from the 9475.00 area in yesterday’s trading activity. Profit-taking was generally orderly in yesterday’s European and North American sessions and this selling pressure pair took price activity as low as the 8919.72 area. During today’s early rebound, the pair traded just above the 9131.84 area, representing the 38.2% retracement of the move lower from 9475.00 to 8919.72. BTC/USD’s orderly decline saw the pair weaken to just below the 8930.17 area during yesterday’s North American session,...

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CryptoDaily Launches Sponsored Cryptocurrency Indices

It has been nearly 125 years since Charles H. Dow created the first financial index in 1896. Dow, a finance journalist, co-founded the Dow Jones & Company and founded The Wall Street Journal, a publication that has featured more than its fair share of indices over the past several decades.  There are indices that cover the declining number of traditional physical retail stores in the United States. There are indices that track Chilean wine prices. There’s of course the world-famous Big Mac Index that was created by The Economist in 1986 to quantify the theory of purchasing power parity (PPP)...

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