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Ethereum (ETH) Runs Into Resistance, Price Remains Heavily Overbought

Ethereum (ETH) just keeps surging with no signs of slowing down despite ETH/USD being heavily overbought on the weekly time frame. Ethereum (ETH) is far ahead of Bitcoin (BTC) and is currently testing the market structure that it broke in November, 2018. This level that used to be a strong support has now turned into a strong resistance and the price is unlikely to break past it. We may see some wicks to the upside but the weekly candle is extremely unlikely to close above this level. The price is due for a major decline in the weeks ahead and...

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Bitcoin (BTC) Due For Significant Further Downside Even If Bear Market Is Over

It is surprising to see such a wide range of disagreements in this market when Bitcoin (BTC) has done nothing but follow the previous cycle the whole time. There have been confusions regarding what part of the cycle we had been at during different times, but every now and then it becomes quite clear. This time, BTC/USD has run into the 21 Month EMA just like it did in July, 2015. Also, just like in July, the price has pierced through a long term trend line resistance. Bitcoin (BTC) has also closed above the 200 day moving average which means...

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Ripple (XRP)’s Fate Hangs In The Balance As Bitcoin (BTC) Rally Fizzles Out

The recent surge in cryptocurrency prices was apparently a result of a buy order for 20,000 Bitcoin spread across different exchanges. This is why Bitcoin (BTC) rallied the most and cryptocurrencies like Ripple (XRP) followed. While Ripple (XRP) is up more than 6% for the day, it is still down around 6% against Bitcoin (BTC). The recent rally in Bitcoin (BTC) seems to be losing steam and the price is likely to retrace significantly in the days ahead. However, this has put Ripple (XRP) in a tough spot once again as the cryptocurrency is massively already oversold against Bitcoin (BTC)...

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Ethereum (ETH) Likely To Slide Below $130 If Price Closes Below 200 Day MA

Ethereum (ETH) has made a sudden move to the upside just like Bitcoin (BTC) although not as intense. This is quite surprising to see as usually altcoins rally a lot more than Bitcoin (BTC) whenever the market recovers. The fact that this did not happen should be a cause for alarm in itself as to what could be the catalyst behind this move and whether or not this is sustainable. On surface, the answer is clear. The daily chart for ETH/USD shows that the price is struggling to break past a strong trend line resistance that it has failed to...

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Why Bitcoin (BTC)’s Recent 20% Pump Is More Bearish Than Bullish Long Term

Bitcoin (BTC) surprised the whole crypto community with a sudden 20% spike today in less than 5 minutes. Until now, nobody knows what triggered this spike. We do not know whether this was some major whale that placed a large order on a big exchange or a shark who liquidated some short positions that led to the sudden spike. By now, the number of margined shorts has also seen a major decline also around 20% but those who have been following BTCUSDShorts while BTC/USD spiked know that the number of margined shorts fell after the spike in the price of...

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