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Bitcoin (BTC) Bears Ready To Take Control After Months Of Indecision

Bitcoin (BTC) bears seem to be in a position of control once again after a long period of indecision. The daily chart for BTCUSDShorts shows that the number of margined shorts started to decline towards the end of last year. The price made a bullish recovery during that time and the bears were quick to lose sight of the big picture. Currently, BTCUSDShorts is resting on a strong trend line support and is expected to begin a new uptrend as early as next week. It is important to note though that Bitcoin (BTC) is now overbought short term (4H) and...

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Bitcoin (BTC) Appears Determined To Test $6,000 Before Its Next Major Decline

Bitcoin (BTC) has declined significantly in the past few days and the price is temporarily oversold on shorter time frames now. However, the big picture remains intact and BTC/USD will see a major decline in the weeks ahead. That being said, the manner in which the price has declined in the past 48 hours shows that it is preparing for a final move to the upside. The price is currently consolidating above a strong support as shown by the VPVR profile. This could pave the way for a rise towards $6,000 before Bitcoin (BTC) declines further. As long as the...

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Ripple (XRP) All Set To Break Past 50 Day EMA As Price Finds Strong Support

Ripple (XRP) is all set to break past the 50-day1 exponential moving average as the price has now found a strong support around the $0.3236 mark. This is a very strong support that would be very hard to breach during the next downtrend which is why XRP/USD now has better prospects of breaking the symmetrical triangle it is trading into the upside. The VPVR indicator on the 1D chart for XRP/USD shows that the price will run into a strong resistance soon as it breaks out of the triangle. However, Ripple (XRP) is still quite oversold on both the daily...

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Ethereum (ETH) Might Take A While To Drop Below $160

Ethereum (ETH) has faced a strong rejection at a critical trend line resistance which means the price is highly likely to decline in the weeks ahead. However, now that it has declined so sharply in such a short time, we expect the price to take a while to consolidate or rally before it can fall further. The 4H chart for ETH/USD shows that the price has ample room to rally considering that its Stochastic RSI is oversold short term and the RSI has found a trend line support that could see the price rally back towards the top of the...

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Bitcoin (BTC) Still Has Room To Rally Before The Next Downtrend  

Bitcoin (BTC) appears to be due for a short term correction to the upside after a massive pullback in the last 48 hours. However, the big picture continues to remain intact and the price will eventually have to fall back towards $4,000 and lower in the weeks ahead. The 4H chart for BTC/USD shows that the Stochastic RSI is now oversold enough for the price to shoot back up towards the previous trend line resistance that has already seen the price face rejection twice. This third attempt could be the last opportunity for Bitcoin (BTC) bears to open shorts at...

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