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Sally Ho's Technical Analysis 30 April 2019

Bitcoin Bitcoin (BTC/USD) appreciated during today’s Asian session, trading as high as the 5165.49 area after Bids emerged around the 5100.00 figure late in yesterday’s North American session. The pair was challenged around the 5176.07 area during yesterday’s European and North American sessions, a key level we continue to spotlight that represents the 38.2% retracement of the 8488.00 – 3128.89 range. Early in yesterday’s European session, the pair was driven lower and Bids emerged around the 5078.52 area, representing the 76.4% retracement of the move from 4901.99 to 5650.01 and another level we have noted. Above the current range, the...

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Litecoin (LTC) Closes Below 50 MA, Risks A Fall To $50 In The Weeks Ahead

Litecoin (LTC) closed below its 50 day moving average and the price is now eyeing further downside amid short term oversold conditions. We saw LTC/USD rally hard after the 50 day moving average crossed over the 200 day moving average to form a golden cross. Most cryptocurrencies were unable to capitalize on that but Litecoin (LTC) had a good run fueled predominantly by the halvening hype. Litecoin (LTC) is due for its next halvening in August that would see its mining rewards split in half which means it will cost twice as much to mine one Litecoin (LTC). This should...

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Ethereum (ETH) Eyes A Rally Towards $160 Amid Fading Bullish Momentum

Ethereum (ETH) continues to show signs of weakness as the price struggles to take off towards $160 from current levels. For the past three days, the price has failed to make any meaningful moves and is now likely to attempt to rally towards the top of the descending triangle it is trading in. This descending triangle forms part of a large rising wedge that will eventually have to the break to the downside. That being said, ETH/USD has a lot of room to rally short term as the RSI has cooled off and the stochastic indicator signals a bullish crossover...

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Have Bitcoin (BTC) Bears Become Too Confident, Too Soon?

Bitcoin (BTC) just closed the weekly candle below its 50 week moving average. This is a very bearish development considering BTC/USD is already heavily overbought on the weekly time frame. The weekly chart shows that the price is trading near the upper extremity of the Bollinger bands within a rising wedge. Soon as this rising wedge breaks to the downside, BTC/USD could see a massive decline that could pull it down to its 200 week moving average. There is no denying that we might see a sharp decline sooner or later and that BTC/USD has been long overdue for a...

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Sally Ho's Technical Analysis 29 April 2019

Bitcoin Bitcoin (BTC/USD) encountered some buying pressure early in today’s Asian session as the pair climbed higher to the 5172.26 area after trading as low as the 5101.00 figure during yesterday’s North American session. Price activity continues to swirl around the technically-relevant 5176.07 area, representing the 38.2% retracement of the move from 8488.00 to 3128.89. Another key level that the pair has been unable to breach in recent days is the 5225.44 level, representing the 38.2% retracement of the 5650.01 – 4963.00 range. BTC/USD will also need to contend with the 100-bar MA (4-hourly) on a move higher, currently around...

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