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Sally Ho's Technical Analysis 31 May 2019

Bitcoin Bitcoin (BTC/USD) depreciated sharply early in today’s Asian session following the pair’s ascent to the 9090.00 level during yesterday’s North American session, its strongest print for several months. Stops were elected above the 8824.74 area during yesterday’s move higher, representing the 76.4% retracement of the move from 8947.88 to 8426.09. BTC/USD depreciated to the 7972.00 level early in the Asian session after Stops were elected below some key retracement areas including 8278.55 and 8087.05. Stops were also triggered below the 8324.13 level, representing the 50-bar MA (4-hourly), and then below the 8063.08 area, representing the 100-bar MA (4-hourly).  Buying...

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Litecoin (LTC) Fails To Break Key Resistance During Recent Altcoin Rally

Litecoin (LTC) rallied with the rest of the altcoin market as they made moves against Bitcoin (BTC). However, it was stopped out at a key resistance against Bitcoin (BTC) as we can see on the daily chart for LTC/BTC. The price could still retest the 38.2% fib extension level but it seems to have run out of steam for now. Any move to the upside is likely to leave a long wick up as the price is eventually likely to close below the resistance at 0.0134 BTC. Now, the previous rally did see the price rise below this level and...

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Ethereum (ETH) Still Remains In A Strong Downtrend Against Bitcoin (BTC)

Ethereum (ETH) and other altcoins are at a very interesting point. The daily chart for ETH/BTC shows that Ethereum (ETH) and other cryptocurrencies surged a few percent against Bitcoin (BTC) and all of a sudden everyone starts talking about altcoin season again. That is all fine and good and if it happens but as investors we need not to be in the hoping or wishing business. Looking at the daily chart for ETH/BTC, it is nearly impossible to fathom what makes most of these retail bulls so bullish. There is a strong trend line resistance that goes back to the...

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Bitcoin (BTC)’s Parabolic ‘Rally’ Will End In Bloodbath Sooner Or Later

Bitcoin (BTC) has been on a roll since the beginning of last month when the price embarked on a parabolic ‘rally’ that has yet to see any signs of a slowdown. This has led to a lot of people calling that the bottom is in or the next bull run has begun without realizing that it is the dumb money leading the charge here. That never happens when we see a trend reversal. Throughout Bitcoin (BTC)’s own trading history as well as in other financial markets, it is always the smart money that leads the charge. When does smart money...

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Sally Ho's Technical Analysis 30 May 2019

Bitcoin Bitcoin (BTC/USD) was weaker early in today’s Asian session following a stronger showing during yesterday’s North American session that saw the pair back around the 8760.43 area, just above the 61.8% retracement of the move from 8947.88 to 8426.09. During yesterday’s European session, BTC/USD came off and traded as low as the 8426.09 area after Stops were elected below the 8488.00 area, an important level that was a historical relative high. Traders are looking to see if the pair can hold the 8598.42 area, representing the 23.6% retracement of the move from 7467.10 to 8947.88. The market has still...

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