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Bitcoin (BTC) Likely To Unnerve The Bears With A Strong Move To The Upside

Bitcoin (BTC) has slowed down after rallying hard the past few days. Most retail bears have already opened short positions while others are still looking for more favorable entry points. The price is clearly overbought and the resistance zone at $5,800-$6,000 is clearly not one to be breached that easy. However, that has not stopped most retail bulls from letting the possibility of a golden cross eclipse all else. The 50 day EMA is now incredibly close to the 200 day EMA and we could see the long anticipated golden cross result in a strong move to the upside that...

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Litecoin (LTC) Finally Breaks Below Descending Triangle, Eyes New Lows

Litecoin (LTC) has finally broken below the descending triangle that we covered in our last analysis on Litecoin (LTC). We discussed that the price was at risk of a major decline below the triangle and now that has finally happened. LTC/USD is trading below the descending triangle at the moment which means it will have a very hard time climbing back above as the previous support has now turned into a resistance. The price is also trading below the 200 EMA on the 4H time frame. As Bitcoin (BTC) looks to test its previous broken market structure around $5,800-$6,000, we...

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Could BTC’s Golden Cross Formation be a Trap?

The crypto winter seems to be coming to a close and Bitcoin has formed what is known as a ‘golden cross’. This is the first cross that has been formed since October 2015. Essentially, what we’re trying to say, is that this is a pivotal point for the whole crypto space. Before we go any further though let’s just clear a few things up. Terminology A moving average is an indicator that analyses different data points by generating a sequence of averages. If you look on Investopedia, they describe it as a tool which helps “smooth out price action by...

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Ethereum (ETH) Breaks Critical Trend Line Support, Primed For New Lows

Ethereum (ETH) has finally broken below a large bearish pennant against Bitcoin (BTC). This has led to the price breaking a strong trend line support that had held since December, 2018 when ETH/BTC found a temporary bottom. In the recent past, Bitcoin (BTC) has been rallying more aggressively compared to Ethereum (ETH) or Ripple (XRP) but when it comes to declines, altcoins still fall harder than Bitcoin (BTC). This means that it was expected that altcoins would end up breaking key supports against Bitcoin (BTC) during the next pullback. I think all of this is just getting started. By the...

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Bitcoin Still (BTC) Likely To Rally Towards $5,800 By End Of The Month

Bitcoin (BTC) is still very likely to rally towards the resistance zone at $5,800-$6,000 despite the recent retracement. The price rallied too high too soon and this pullback was expected. The price seems to have reverted to mean within the ascending channel it is trading in. Now we can expect it to consolidate for a whole before rallying towards $5,800. We have long been expecting this retest as discussed in my previous analyses. If the price is to go down towards $1,800 it has to face a strong rejection at the previous market structure which is also the resistance zone...

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