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Technicals Around 377 and 386 Propel ETH/USD Higher: Sally Ho's Technical Analysis 13 August 2020 ETH

Ethereum (ETH/USD) reclaimed its upward bias in today’s North American session as the pair appreciated to the 398.00 area level after trading as low as the 376.46 area earlier in the European session, right around the 38.2% retracement of the recent appreciation from 325.75 to 408.00.  Traders are waiting to see if the buying pressure around these significant technical levels will be enough to result in ETH/USD gaining a foothold above the 400.00 figure.  The 392.00 area is an area that is of technical significance, representing the 23.6% retracement of the recent appreciation from 362.88 to 401.00.  Additional downside price...

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BTC/USD Roadblocked at 11625: Sally Ho's Technical Analysis 13 August 2020 BTC

Bitcoin (BTC/USD) continued to orbit the psychologically-important 11500 level early in today’s Asian session after traders lifted the pair to the 11625 level during yesterday’s North American session.  Bids kept BTC/USD bid above the 11115.62 area, representing the 38.2% retracement of the historical appreciation from 6636.46 to 13884.29, before encountering technical resistance around the 50-bar, 4-hourly simple moving average.  One range that has influenced recent price activity is the recent appreciation from 11546.15 to 12086.22, and traders are observing that buying activity emerged during a recent pullback just below the 11497.71 area, representing the 38.2% retracement of the appreciating range.  Additional retracement...

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ETH/USD Big Above 381.94 Again: Sally Ho's Technical Analysis 12 August 2020 ETH

Ethereum (ETH/USD) rallied higher early in today’s North American session as the pair strengthened to the 387.59 area level after trading as low as the 365.19 area earlier in the European session. Some Stops were triggered above the 381.94 and 386.44 levels, representing the 50% and 38.2% retracements of the appreciating range from 362.88 to 401.00.  Traders are observing that the pair has encountered some technical resistance around the 392.00 area, representing the 23.6% retracement of the recent appreciation from 362.88 to 401.00.  Additional downside price retracement levels in this range include the 386.44, 381.94, 377.44, and 371.88 areas.  The...

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11316 a Big Test for BTC/USD on Pullback: Sally Ho's Technical Analysis 12 August 2020 BTC

Bitcoin (BTC/USD) continued to shy away from the psychologically-important 12000 figure early in today’s Asian session as fresh upside sentiment remained elusive following the pair’s failure around the 11943.00 area during yesterday’s Asian session.  One range that has influenced recent price activity is the recent appreciation from 11546.15 to 12086.22, and traders are observing that buying activity emerged during a recent pullback just below the 11497.71 area, representing the 38.2% retracement of the appreciating range.  Additional retracement levels in this appreciating range include the 11316.19, 11134.46, and 10909.61 areas.  Traders also remain focused on the 11395.78, 11372.38, 11350.94, and 11307.97 areas during...

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Bitcoin Begins Long Overdue Correction 

Bitcoin has finally begun the downtrend as we had earlier anticipated. This is now in line with our expectations and indicates that both cryptocurrencies and stocks could correct near-term before the next bullish advance. The reason I expect another bullish advance is because both markets have room for further upside and might not top out just yet.  In the case of the S&P 500 (SPX), we could see a move towards the previous resistance turned support. There, it could find support to rally further but it is important to realize that neither stocks nor cryptocurrencies have much room to rally...

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