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Bitcoin (BTC) Shorts Fall More Than 38% In A Day But Price Continues To Fall

Bitcoin (BTC)’s desperate buying frenzy seems to have come to an end as institutional investors that pumped the price begin to take profit. Retail bulls are still expecting a rally to $10,000 and the whales know that which means it is very unlikely to happen. The daily chart for BTC/USD shows the weakness in the price action as the rally has come to a halt after a parabolic run up. This rally is now very similar to the parabolic rally we saw during 2017-18. We all know how that turned out so there is no reason to assume otherwise in...

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Sally Ho's Technical Analysis 16 May 2019

Bitcoin Bitcoin (BTC/USD) expanded recent gains during today’s Asian session, reaching the 8269.69 level after finding some Bids late during yesterday’s European session. The pair generally stayed Bid during yesterday’s North American session and Stops were elected above the 8172.02 area, representing the 76.4% retracement of the move from 8350.00 to 7621.27. Traders continue to speculate whether BTC/USD will explode higher to fresh multi-month highs or whether it will instead consolidate recent gains. The pair continues to tightly hug its 50-bar MA (hourly). Above current price activity, the 9532.02 area is an upside target and it represents the 38.2% retracement...

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Ethereum Classic (ETC) Risks Sell-Off As Price Runs Into Trend Line Resistance

Ethereum Classic (ETC) has rallied successfully on short term bullish revival in the market. The price is now retesting a strong trend line resistance that it is unlikely to break. This is because the price has rallied too far too fast and now lacks the strength to break past it. This is likely to result in a rejection which will then push ETC/USD back towards the bottom of the ascending channel. Ethereum Classic (ETC) is a recovering blockchain project with promising prospects long term. However, it has a history of lagging behind when the rest of the market rallies. That...

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Ethereum (ETH) Finally Tests 50 Week MA, Price At Risk Of Significant Sell-Off

Ethereum (ETH) has just run into its 50 week EMA and is now likely to face a strong pullback to the trend lie support it has skyrocketed off these past few weeks. ETH/USD climbed slightly above $237 before it retraced to $233. So far, the price of Ethereum (ETH) remains heavily overbought on the weekly as well as the daily time frame. These moves seem to have unnerved a lot of greedy bears but smart money is not touching Ethereum (EHT) at these prices. The pump seemed to have been triggered by a few big players that got more institutions...

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Bitcoin (BTC) Rally Likely To End Badly As S&P 500 Points To Gloomy Outlook

Bitcoin (BTC) rally seems to have come to an end now that the price has tested the 1.618% fib retracement level. BTC/USD started the day in red and is expected to fall back towards the bottom of the parabola in the near future. It is unlikely that the sell pressure could keep the price from falling below this parabola especially now that the S&P 500 points to a gloomy outlook in light of recent developments. The trade war with China just took a turn for the worse and the US is planning to deploy troops in the Middle East. Meanwhile,...

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