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Sally Ho's Technical Analysis 24th March

BTC/USD (Bitcoin/ US dollar) Bitcoin (BTC/USD) experienced some relatively light weakness early in Sunday’s European session as the pair again tested the 3961.62 level, a key technical level that represents the 23.6% retracement of the 3655.00 – 4056.33 range.  The level’s technical significance was confirmed on Thursday after Bears triggered heavy Stops that saw BTC/USD decline as low as 3915.14. The pair has been trading in a relatively tight range that stated to form late Thursday after plumbing the 3915.14 area.  The psychologically-important 4000.00 figure has coincided with an area of technical Resistance around the 3998.82 level, representing the 61.8%...

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Bitcoin (BTC) Likely To Retrace To 21 Day EMA Before Rally Towards $4,500

Bitcoin (BTC) is trading just below $4,000 and eyes a retest of the trend line resistance. Overbought conditions on the daily time frame have once again become favorable for a rally to the upside. However, the price is extremely unlikely to break out of the symmetrical triangle this week. The daily chart for BTC/USD shows that we might see a retest of the 21 day exponential moving average before the weekly close. The price could fall further to retest the 38.2% Fib level but it is still expected to be in a position for a quick rally towards $4,500 before...

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Ethereum Classic (ETC) Breaks Critical Resistance, Price Continues To Rally

Ethereum Classic (ETC) has broken past a critical trend line resistance and is now rising on bad news. That’s right, bad news! The cryptocurrency seems to be completely unaffected by the departure of a high profile developer, Anthony Lusardi of ETC Cooperative. We at Crypto Daily have interviewed Anthony Lusardi in the past. He has been very keen to see the project succeed. However, he recently announced his departure due to “burnout and social media FUD”. The price has reacted in a completely strange way as if the departure had a positive impact on the future of the Ethereum Classic...

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Ripple (XRP) All Set For An Aggressive Breakout In The Weeks Ahead

Ripple (XRP) has been stalling a move to the upside even though it broke out of the symmetrical triangle that it has been trading in for the last eight months. This uncertainty has more to do with Bitcoin (BTC) and the overall crypto market in general than Ripple (XRP) itself. Interest in XRP/USD does not seem to have decreased despite the fact that rivals like JPM Coin (JPM) and Stellar (XLM) now threaten its dominance in the cross borders payment industry. That being said, Ripple (XRP) has one of the most loyal supporters in the entire crypto community which is...

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Bitcoin (BTC) Maintains Parabolic Trajectory, Eyes Rally Above $4,000

Bitcoin (BTC) maintains its parabolic trajectory as price consolidates before a strong rally past $4,000. The price is expected to close this week below $4,000 with the possibility of a strong rally as early as next week. The 4H chart for BTC/USD shows that the price is currently resting atop the parabolic support which also coincides with the 50 MA on the 4H time frame. Prior to that, the price found support on a level that coincided with the 200 MA on the same time frame. Trading conditions on the 4H time frame are favorable for a short term rally...

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