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Buying Bitcoin (BTC) Now Is Not A Good Idea Whether You Are A Bull Or A Bear

Bitcoin (BTC) has closed the week above $8,000 but has now retraced well below that mark as it has started the first day of the week in red. We have mentioned in our previous analyses how this rally was nothing more than a few big players propping up the price so they could achieve their objectives. Initially it seemed to be about liquidating short sellers but soon afterwards it became clear that the whales were not clear of a little naked manipulation. In fact, it was a little too naked this time but quite surprisingly the whales did not care...

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Sally Ho's Technical Analysis 20 May 2019

Bitcoin Bitcoin (BTC/USD) encountered some profit-taking early in the Asian session after being lifted to the 8315.00 area late in yesterday’s North American session, just below the 76.4% retracement of the move from 9948.12 to 3128.89. The pair then traded as low as the 7800.00 figure early in the Asian session. Both 8186 and 8210 represented short-term upside price objectives following yesterday’s price activity and Stops were elected above both of those areas, pushing the pair close to fresh multi-month highs and to levels that preceded the massive sell-off late last week. Chartists are again focusing on important levels of...

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Why Bitcoin (BTC) Might See Another 2018 Styled Bear Trend

If there is one thing everyone is buying right now, it is that Bitcoin (BTC) has bottomed just like it did in 2015 after it formed a blow off top. It is very tempting to believe that we are in that part of the cycle because the ongoing cycle resembles that cycle in many ways. However, there are some stark differences that traders and analysts seem to have ignored due to their strong bullish bias. Before we discuss those, let us analyze why BTC/USD might be printing another 2018 styled bear trend. If we look at the 4H chart for...

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Sally Ho's Technical Analysis 19 May 2019

Bitcoin Bitcoin (BTC/USD) found some buying pressure early in today’s Asian session and lifted higher to the 7578.75 area, not too far below the 50-bar MA (4-hourly). During yesterday’s European session, the 50-bar MA (4-hourly) was toppish for several hours and then traders were unable to move the price above the same barrier during the North American session. The pair is still trying to claw back the losses it incurred following its sharp move lower two days ago. Above current price activity, the 7709.26 area is a key level that traders continue to focus on, representing the 23.6% retracement of...

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Ethereum (ETH) All Set To Decline Below $200 As Price Tops Out

Ethereum (ETH) recently saw a strong rejection at the $270 resistance level and has now begun its decline towards the bottom of the ascending channel it has been trading in. The price did manage to rise above the $270 mark but it failed to close above it. That being said, it did close above the 1.272 Fibonacci retracement level which was a false bullish signal as the price declined below that level and managed to close below the 1.272 Fib retracement level the next day. ETH/USD flash crashed to $223 but bounced strongly off it. However, that did not stop...

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