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Sally Ho's Technical Analysis 26 April 2019

Bitcoin Bitcoin (BTC/USD) managed to reclaim a little bit of lost ground in today’s Asian session as traders continued to lift the pair from yesterday’s intraday low of 4963.00 following the sharp and rapid sell-off.  Traders pushed the pair higher to the 5295.03 level during the Asian session before some profit-taking emerged and technical accounts probed demand around some key levels that we have highlighted for weeks. The rapid plunge during yesterday’s North American session started when the pair tested the 5512.12 level, around the 50% retracement of the move from 5650.01 to 5374.00. Chunky Stops were triggered during the...

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Ripple (XRP) Expected To Rally Short Term But Future Outlook Remains Bleak

Ripple (XRP) is very likely to rally hard if the price remains above the $0.30 mark for the next few days. We have already seen the price resist a sharp decline below its trend line support. Although it is down significantly below its 50 day EMA, we expect it to rally hard in the near future if it remains above $0.30. RSI on the daily time frame points to the strong probability of a rally towards the 50 day exponential moving average. Dreams of a golden cross seem to have fallen apart after the price broke below the 50 day...

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Ethereum (ETH) Likely To Retest $178 Resistance Before Further Sell-Off

Ethereum (ETH) has seen a massive pullback after a short-lasting move to the upside. However, there still appears to be some room for a rally towards the $178 resistance. The daily chart for ETH/USD shows that this move is not only possible, but also probable. The price of Ethereum (ETH) retraced strongly after it formed a triple top on the 1H chart. This time, the price is expected to form a triple top on the daily chart. This will make for a good setup to short Ethereum (ETH) as the price is heavily overbought on larger time frames. The daily...

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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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