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Bitcoin (BTC) Likely To Remain Range Bound Between $3,000 And $6,000

Bitcoin (BTC) has been trading sideways after its big move to the upside but investors are confused once again as to what its next defining move might be. The last time we had consolidation for this long; BTC/USD crashed hard below $6,000 and made a new yearly low. Cryptocurrency investors thus have good reason to be fearful of further decline at this point. That being said when something appears this obvious investors need to be more cautious. It is true that a lot of historical patterns and trends repeat over and over again in the trading history of most financial...

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Ethereum Classic (ETC) Remains Strong Above Key Support Levels

Ethereum Classic (ETC) is stalling a corrective move to the upside against Bitcoin (BTC) but the price remains strong above key support levels. The daily chart for ETC/BTC shows that the price has already broken out of a falling wedge and is now expected to rise towards the historical trend line resistance. This trend line resistance was only tested once last year which lead to an aggressive correction for Ethereum Classic (ETC). The price is now ready to test it once again but we have yet to see whether it will lead to another correction. This is because if the...

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Why Litecoin (LTC)’s Bullish Spree May Be Far From Over Yet

Litecoin (LTC) has faced some strong resistance after its aggressive rally that saw the price surge by more than thirty percent in the past few days. The weekly chart for LTC/USD shows that Litecoin (LTC) has retraced towards the 21 Week EMA as expected. Interestingly, the recent price action bears a strong resemblance to the one seen during May, 2015. The price rallied in a similar manner back then but faced a strong resistance at the previous support turned resistance line. As we can see on the chart, LTC/USD ended that week in red while staying above the 21 Week...

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Bitcoin (BTC) Volatility Index Shows The Bottom Is Either In Or Very Close

Bitcoin (BTC) has recently convinced the majority of traders and analysts that the bearish momentum that has prevailed over the past few weeks has suddenly disappeared. The crypto fear and greed index is once again hovering near 40 which means that the sentiment is mildly bearish and it would not take much to turn the tables on Bitcoin (BTC) bears. The weekly chart for Bitcoin Historical Volatility Index shows that Bitcoin (BTC) is about to complete a volatility cycle that started in late 2016 and ended in early 2019. We saw the major spikes in volatility at the climax of...

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Bitcoin (BTC) Remains Vulnerable Until Trend Line Resistance Is Broken

Bitcoin (BTC) bulls have come up with a lot of bullish setups that could play out in the weeks and months ahead. However, as long as BTC/USD remains below the trend line resistance, all bets are off. Yesterday’s daily candle closed below the trend line resistance after facing strong rejection. Today’s daily candle has already declined below yesterday’s candle and it is now clear that the price may decline towards the 21 Day EMA in the days ahead. That being said, there is no reason to look for bearish entries at this point as the risk/reward is not favorable. Bitcoin...

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