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Sally Ho's Technical Analysis 18 April 2019

Bitcoin Bitcoin (BTC/USD) extended its recent depreciation as traders drove the pair to the 4901.99 level during today’s Asian session, the pair’s weakest showing since 5 April. Today’s intraday Low was just below the 4911.81 level, representing the 23.6% retracement of the move from 5345.00 to 4778.00 and a level we have spotlighted. Some intraday Support emerged yesterday when Bears challenged the 4969.45 area, representing the 50% retracement of the 6810.00 – 3128.89 range and a key technical level we have repeatedly highlighted. The 50-bar MA (4-hourly) also proved to be challenging technical Resistance during yesterday’s European and North American...

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Ripple (XRP) Falls Below 50 Day EMA Lowering Probability Of A Golden Cross

Ripple (XRP) has declined below the 50 day exponential moving average and has once again shown extreme weakness in the face of oversold trading conditions on the daily time frame. The 1D chart for XRP/USD shows that Ripple (XRP)’s Stochastic RSI is near oversold territory on the daily time frame. The RSI has also found support atop a long term trend line that extends back to December, 2018. Normally, this would mean that Ripple (XRP) is in a good position to stage an effective comeback from current levels but the price action this time is very weak and it appears...

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Ethereum (ETH) Bears Ready To Take Control As Price Fails To Breach $170

Ethereum (ETH) is likely to retrace to the bottom of the ascending channel it has been trading in as the price has failed to breach the $170 mark. Stochastic RSI on the 4H timeframe is now in overbought zone and signals a pullback in the near future. The price shot up after find support at a newfound trend line but it has now seen a loss of bullish momentum which means we could see a sharp decline soon as the price falls below the 50 EMA on the 4H time frame. If ETH/USD falls below this channel, we could see...

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Bitcoin (BTC) Braces For Another Fall As Rally Loses Steam

Bitcoin (BTC) started to rally as it bounced off the bottom of the ascending channel it has been trading in since the beginning of the month. BTC/USD was expected to rally towards the top of the channel but this rally has now come to a stop as the bulls have lost control. The 4H chart for BTC/USD shows that the RSI is now due for a sharp pull back in the near future that could pull Bitcoin (BTC) back to its trend line support. The more Bitcoin (BTC) tests this trend line, the higher the probability that it is going...

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Ethereum Classic (ETC) Risks A Fall Below $6 As Bullish Momentum Fades

Ethereum Classic (ETC) has been a good performer in the last few months contrary to investor expectations and past experiences. It seems that the new leadership under ETC Labs is doing enough to convince investors that the cryptocurrency has a promising future and it has here to stay despite the ETC Dev shutdown or the recent 51% attack. The daily chart for ETC/USD shows that it rallied better compared to most cryptocurrencies and doubled in price from its December, 2018 low. That being said ETC/USD has faced a clear rejection at the top of the ascending channel it has been...

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