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Ripple (XRP) Risks A Fall To $0.25 In The Absence Of Bullish Momentum

Ripple (XRP) is now back where it took off from towards the end of last month. This is not a good development for XRP hodlers who have long been anticipating a break out to the upside. The more XRP/USD tests the horizontal support at $0.287, the more likely it is to break it. This level has been tested more than four times in the past few weeks but it has held so far. The absence of bullish momentum means that this level is very likely to be breached on another attempt. RSI for XRP/USD on the 4H chart does point...

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Bitcoin (BTC) Breaks Below Trend Line Support, Faces Strong Rejection At Retest

Bitcoin (BTC) has broken below a critical trend line support that held for a long time after the December, 2018 crash. This appeared to be an act of manipulation and the bulls were secretly hoping that the price would get back above the trend line but none of that happened. In fact, the price kept trending the trend line support which has now turned into a strong resistance. The last attempt to test this trend line failed miserably and BTC/USD faced a strong rejection which led to a selling spree that pulled the price down to $3,338. It soon recovered...

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Ethereum Classic (ETC) Eyes A Rally Past $4 After Weeks Of Consolidation

Ethereum Classic (ETC) continues to trade within an ascending channel but the price has been reluctant to rally towards the top of the channel and has been consolidating the past few weeks. The 4H chart for ETC/USD shows that the price is now consolidating above the trend line support in the same manner that it did just before the major crash in November, 2018. This is as if market makers are trying too hard to put a certain pattern in front of retail traders because they want them to find exactly what they are throwing at them. What would that...

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Will Ripple (XRP) Break Market Structure This Time?

Ripple (XRP) is once again at a point where it was between July and August last year. The price had found a strong support and was not expected to break below its market structure. However, it happened and XRP/USD declined to its yearly low in September, 2018. That low was followed by a massive rally to the upside which saw XRP/USD run into its trend line resistance next week but faced strong rejection. Afterwards, we saw a retest of the previous support and the price rallied again from there but faced rejection again. In the past few weeks we have...

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Dollar Index (DXY) Hints Bitcoin (BTC) Will Soon Make Its Next Big Move

The Dollar Index (DXY) is a strong indicator of the strength or weakness of the US Dollar compared to other major currencies. As the price of Bitcoin (BTC) is predominantly paired to the US Dollar on most exchanges, it is reasonable to see that movements in the Dollar Index (DXY) have important consequences for the price of Bitcoin (BTC). The daily chart for the Dollar Index (DXY) shows that the price is trading within a rising wedge and is thus at risk of significant sell off in the weeks or months ahead. However, short term there is a lot of...

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