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ETH/USD Peeks and Peaks Above 400 Figure Again: Sally Ho's Technical Analysis 5 August 2020 ETH

Ethereum (ETH/USD) escalated higher early in today’s North American session as the pair strengthened to the 402.50 area after trading as low as the 383.86 area during the Asian session.  The pair is now orbiting some key technical levels that chartists are monitoring including the 396.69 area, representing the 23.6% retracement of the historical depreciation from 1419.96 to 80.60.  Similarly, the 391.51 area is the 38.2% retracement of the depreciation from 894.50 to 80.60.  Earlier this week, the pair derived technical support around the 50-bar simple moving average, and has recently encountered buying pressure around the 23.6% retracement of the...

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BTC/USD Looking Vulnerable Below 12000: Sally Ho's Technical Analysis 5 August 2020 BTC

Bitcoin (BTC/USD) sought fresh market sentiment early in today’s Asian session as traders are seeking to determine a market bias following selling pressure the pair encountered around the 11486.60 area during the Asian session.  Traders recently drove BTC/USD as high as the 12134.29 area before profit-taking pushed the pair lower to the 10546.15 area, just above the 50% retracement of the same appreciating range from 8905.84 to 12134.29.  Additional upside price objectives include the 12227.83, 12268.47, 12311.39, 12859.49, and 13107.05 levels, targets related to areas of buying pressure that emerged earlier this year around the 3858.00 area and above.   Stops were recently elected...

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Bitcoin (BTC) Begins A Boring Week

After the recent market retracement, Bitcoin seems to have begun a boring week. It might end up forming a double bottom but after that, this is expected to be a boring time for Bitcoin (BTC) with nothing much to be excited about on the bullish or the bearish side. The price is expected to remain rangebound for quite a while and might top out in September at the earliest. It is important to realize that BTC/USD is closely following the S&P 500 (SPX). There is a strong correlation that exists on larger time frames and it cannot be ignored. We...

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Basic Short-Term Technical Support for ETH/USD at 380: Sally Ho's Technical Analysis 4 August 2020 ETH

Ethereum (ETH/USD) was on the back foot early in today’s North American session as the pair weakened to the 382.00 area after trading as high as the 403.64 area during the Asian session.  Traders observe that the pair has continued to derive technical support around the 50-bar simple moving average, and has recently encountered buying pressure around the 23.6% retracement of the appreciating range from 268.39 to 415.00.  Downside retracement levels in this appreciating range include the 373.89, 364.70, 355.50, 344.13, and 342.42 areas.  ETH/USD recently spiked to the 415.00 area, a test of the 418.79 level that represents the...

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BTC/USD Seeking Upward Momentum Above 11000: Sally Ho's Technical Analysis 4 August 2020 BTC

Bitcoin (BTC/USD) continued to eye advances above the 11000 figure early in today’s Asian session as traders are seeking to build upon the upward price pressure that emerged around the 10911.74 area during yesterday’s Asian session, just above the 38.2% retracement of the recent appreciating range from 8905.84 to 12134.29.  After the recent appreciation to the 12134.29 area, profit-taking pushed the pair lower to the 10546.15 area, just above the 50% retracement of the same appreciating range.   Additional upside price objectives include the 12227.83, 12268.47, 12311.39, 12859.49, and 13107.05 levels, targets related to areas of buying pressure that emerged earlier this year around...

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