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Sally Ho's Technical Analysis 6th April 2019

Bitcoin (BTC/USD) extended its recent run higher following its test and bounce above the 4761.41 level earlier this week, trading as high as the 5066.59 level during today’s Asian session.  As noted in our 4 April 2019 analysis, the 4761.41 area remains a key technical level, representing the 38.2% retracement of the 7402.50 – 3128.89 range. Traders were unable to take BTC/USD too far above the 5061.50 level, representing the 50% retracement of the 5345.00 – 4778.00 range. Short-term related upside technical Resistance is also expected around the 5128.41 and 5211.19 levels. Price activity is nearest the 50-bar MA (4-hourly)...

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Ripple (XRP) Stages A Surprising Comeback Amid Market Slowdown

Ripple (XRP) has staged a surprising comeback and is up nearly 10% for the day while the rest of the market continues to see a slowdown. The cryptocurrency is now close to breaking out of the months long symmetrical triangle that it has been trading in. However, given the outlook of the cryptocurrency market, we might see the price break to the downside. This recent rise in XRP/USD has been seen after more than ten weeks of consolidation. The weekly chart for XRP/USD shows that the price is now above the 21 Week EMA. If it closes the week above...

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Ethereum (ETH) Very Likely To See A Double Digit Price In The Weeks Ahead

Bitcoin (BTC) is overbought on the weekly time frame but not as overbought as Ethereum (ETH). The 1H chart for ETH/USD shows that the price has been repeatedly testing the support it dropped below yesterday as a strong resistance now. This resistance has very low odds of being breached especially when the Stochastic RSI on the 1H timeframe is this overbought. The trend line support that extends back to since the beginning of this rally remains a strong support so far but it is not likely to hold during the next crash. The S&P 500 is at a very vulnerable...

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Bitcoin (BTC) Fails To Break Past $5,000 Hinting At A Bearish Weekly Close

Bitcoin (BTC) is struggling to get back above $5,000 again but so far it has failed miserably. The 1H chart for BTC/USD shows that the price visited the 38.2% fib retracement level a number of times after falling below it but has failed to break past it. We saw an hourly candle close above this level but it was soon followed by another candle to the downside. The Stochastic RSI is now extremely overbought on the 1H time frame which means BTC/USD is long overdue for a sharp decline to the downside. This is significant because this is the last...

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Ripple (XRP) Closes Below 200 Day EMA, Price Ready For Further Downside

Ripple (XRP) is showing no signs of a bullish reversal as the price has just faced a strong rejection at its 200 day exponential moving average. The cryptocurrency has been the face of bad news since the beginning of the year but some relief was expected considering it had more room to grow compared to most other coins and was also massively oversold against Bitcoin (BTC). Those factors do not seem to have made any difference and XRP/USD continues to perform poorly as the price trades further inside the triangle it has been trading in since May, 2018. The daily...

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