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Sally Ho's Technical Analysis 18 May 2019

Bitcoin Bitcoin (BTC/USD) gained marginal ground early in today’s Asian session and traded as high as the 7441.66 level, having orbited its 50-bar MA (4-hourly) since early yesterday. Traders are still discussing yesterday’s so-called flash crash that saw the price dive to the 6600.00 figure after many Stops were elected on the way down. BTC/USD came off approximately US$ 1,340.75 in less than three hours and at one point fell US$ 1,000.00 in about eleven minutes. During the acute downturn, Stops were elected below the 6730.01 and 6677.81 areas, both of which represented retracement levels that easily gave way and...

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Ripple (XRP) Could Crash Below $0.15 During The Next Downtrend

Ripple (XRP) is hanging by a thread as the price is ready to decline all the way to the bottom of the descending triangle it has been trading in since 2018. This triangle is now extremely likely to be broken to the downside as Ripple (XRP) has failed miserably every time it has attempted to break out of it. The price has now faced a strong rejection at the top of this descending triangle and is headed towards the 200 day moving average. It is likely that the price will find short term support at that level but uncertainties loom...

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Earn Cash on Today’s Flash Crash?

More than fifteen hours ago as I was authoring today’s market commentary, the cryptocurrency market started to plummet as the US dollar gained monster ground across the board in a matter of minutes. I quickly realised I needed to update my levels, both in my commentary and my own real-world risk management. My technically-savvy colleague, Jefe Caan, today referred to this as a “flash crash” so I will refer to today’s market violence using the same term. As a veteran of capital markets trading, I’ve experienced my fair share of “flash crashes.” I’ve been on the right side of some...

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Ethereum (ETH) Crushes Hopes Of A Bullish Continuation As Price Nosedives

Ethereum (ETH) bulls were very optimistic about a rally towards $300 especially after the recent price pumps that saw the cryptocurrency fly in a matter of days. However, all those dreams seem to have now been completely shattered by a flash crash that saw the price fall below $200 before recovering. The weekly chart for ETH/USD now shows the price retracing below the 50 week moving average. If the price closes below this level, we will have bearish confirmation and ETH/USD can be expected to decline towards a new yearly low in the months ahead. We have mentioned a price...

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Bitcoin (BTC) Flash Crash Exposes Rampant Manipulation In The Market

Bitcoin (BTC) flash crashed to $6,185 as a few big players dumped large amounts of coins on a popular exchange. The price has yet to recover from the crash and it is expected to fall lower from current levels before a reversal is in sight. The big picture is now clearer than ever and as we have mentioned in our previous analyses, the desperate buying frenzy was just a ploy to trap in some buyers so the whales could dump on them at a better price. The rally was institutions driven as some rightly pointed out but as we have...

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