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Bitcoin (BTC): Sell In May And Go Away

“Sell in May and go away” is a popular adage on Wall Street and a long used investment strategy. Historically the S&P 500 has performed better between November and April compared to other months. A lot of investors who manage their own stock portfolios and do not have any specialized investing expertise rely on such seasonality patterns to buy and sell. Everyone likes to take a summer break and Wall Street is no stranger to such breaks. Most professionals go vacation between May and August which means they would not want to worry about their investments while they are away....

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Sally Ho's Technical Analysis 27 April 2019

Bitcoin Bitcoin (BTC/USD) gained ground early in today’s Asian session and continued to orbit a key technical level around 5176.07, representing the 38.2% retracement of the move from 8488.00 to 3128.89. Yesterday, the pair drifted lower during the European and North American sessions, eventually trading as low as the 5041.14 area before reclaiming some lost ground. BTC/USD has a variety of upside challenges it may encounter including the 100-bar MA (4-hourly) at 5240.22 and the 50-bar MA (hourly) at 5340.04. The 5265.70 level is technical Resistance as well, representing the 50% retracement of the 7402.50 to 3128.90 range. Other key...

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Ripple (XRP) Struggles To Break Past Support Turned Resistance

Ripple (XRP) has declined significantly below a strong trend line support and is now struggling to break above it. The price has already tested this trend line as resistance. RSI on the daily time frame shows room for a rally in the near future but there is not much hope left as Ripple (XRP) has failed on multiple fronts. First of all, it failed to form the golden cross that Bitcoin (BTC), Ethereum (ETH) and a lot of other cryptocurrencies did. Second of all, the price has declined way below the 50 day moving average. Not many cryptocurrencies are in...

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Ethereum (ETH) Finds Support At 50 Day MA, Price Expected To Rally Ahead

Ethereum (ETH) failed to capitalize on the bullish golden cross but all hope is not lost yet as the price has found a strong support atop the 50 day moving average after the recent sell-off. Cryptocurrencies nosedived on Tether news and as always altcoins like Ethereum (ETH) were the ones that suffered the most. While we still think that ETH/USD does not have much room to go anywhere from here as it has already tested its previous market structure and faced a strong rejection, we still expect it to rally for a retest of the previous market structure once again....

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Bitcoin (BTC): Impacts And Implications Of The Recent Crash

The recent Bitcoin (BTC) crash has taken a lot of people by surprise. For those that have been following the price action closely, it was a very probable pullback as the price fell straight below a rising wedge. BTC/USD fell slightly below the 21 day EMA and the daily candle ended up closing above it. In other words, for those that have been bullish on Bitcoin (BTC) this should not change anything short term as the price is still likely to test the $5,800-$6,000 zone. That being said, the odds of a rally past $6,000 have significantly reduced. Now that...

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