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Bitcoin (BTC) Still Has Ample Room For A Rally Past $9,000

Bitcoin (BTC) has once again begun its uptrend after cooling off for the past few days. The RSI and NVT indicators both flashed sell signals in the past few days but that has changed now. This means that we could see a rally past $9,000 in the days and weeks ahead. BTC/USD is yet to break out of an ascending wedge and is expected to test the 38.2% fib retracement from its previous all-time high of $20,000. I do not see BTC/USD falling below $3,000 before testing this level. Technical conditions are now in favor of Bitcoin (BTC) and any...

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Sally Ho's Technical Analysis 7 June 2019

Bitcoin Bitcoin (BTC/USD) gained some marginal ground early in today’s Asian session as the pair climbed higher to the 7835.79 area after trading as low as the 7450.00 level in yesterday’s North American session. BTC/USD continues to encounter technical Resistance around the 7881.93 area, representing the 76.4% retracement of the projected range of 7470.51 – 9213.84, an upside price objective. The pair has derived some technical Support around the 7759.18 area, representing the 23.6% retracement of the move from 8834.54 to 7427.00, and is attempting to find a floor there early in today’s Asian session. Above current price activity, chartists...

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Why The S&P 500’s ‘Changed’ Outlook Could Benefit Bitcoin (BTC)

Markets seem to have taken a 180 degrees turn after a changed stock market outlook based on hopes of a rate cut in July. Just last week, the S&P 500 Index closed below the 50 day moving average. If the index had closed another week in red, it would have been disastrous not just for the stock market but for other markets as well. Cryptocurrencies in particular would have taken a massive hit and Bitcoin (BTC) would have tanked hard. However, after the Fed pumped life into the stock market again, investors reacted quickly to buy the dip. A quick...

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Sally Ho's Technical Analysis 6 June 2019

Bitcoin  Bitcoin (BTC/USD) strengthened a little bit early in today’s Asian session as the pair traded as high as 7392.87 before yielding some early gains and moving back to the 7750.68 area. The price continues to orbit the 7845.00 level, representing the 50% retracement of the move from 6600.00 to 9090.00, after having traded as low as the 7427.00 area this week. The 7881.70 level has also served as some technical Resistance for the pair this week, representing the 76.4% retracement of the projected move from 7470.51 to 9213.84, with the latter price being a key upside price objective extension...

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Bitcoin (BTC): Why This Is Not The Fall That Takes The Price Below $3,000

Bitcoin (BTC) declined below $8,000 within days of testing the $9,000 mark. This goes on to show that a lot of professional traders who rode the parabolic rally cashed out near the $9,000 mark. However, just when retail bears think this is the time for further continuation of the downtrend, we might expect another rally to the upside that will end up testing the 38.2% fib retracement level from Bitcoin (BTC)’s all-time high. The daily chart shows that BTC/USD has now broken below a large ascending wedge and has also broken the parabolic uptrend. We are likely to see a...

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