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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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Bitcoin (BTC) Bulls Still Remain In Control For Now

Bitcoin bulls remain in control despite the recent crash. This can be more aptly called a healthy retracement which has now paved the way for further upside. It is important to realize that the market is still ready for further upside near to mid term because the gap has not been filled. Moreover, the S&P 500 (SPX) shares the same outlook after a very bullish close on Friday. It is still too risky to enter a long position here on both the S&P 500 (SPX) as well as Bitcoin (BTC). However, after some consolidation both of these markets as well...

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ETH/USD Bulls Testing 400 Again: Sally Ho's Technical Analysis 3 August 2020 ETH

Ethereum (ETH/USD) appreciated early in today’s North American session as the pair gained ground to the 392.84 area after trading as low as the 366.34 area during the Asian session.  Traders appeared poised to again challenge the psychologically-important 400.00 figure following the pair’s recent spike to the 415.00 area over the weekend, a move that represented a test of the 418.79 level, representing the 61.8% retracement of the historical depreciation from 627.83 to 80.60.   ETH/USD then quickly plunged to the 325.75 area, right around the 50-bar simple moving average on 4-hourly charts, and just above the 50% retracement of the...

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BTC/USD Volatile After Pop Above 12000: Sally Ho's Technical Analysis 3 August 2020 BTC

Bitcoin (BTC/USD) remained remained volatile the psychologically-important 11000 figure early in today’s Asian session as traders continued to lick their wounds following the recent sharp move higher to the 12134.29 area and subsequent drastic fall to the 10546.15 area before its recovery back above the 11000 figure.  Stop hunters elected Stops below the 11385.78, 11372.38, 11350.94, 10938.90, 10901.02, 10866.33, and 10569.65 areas during the rapid depreciation. If downside pressure persists, traders will pay close attention to liquidity and Stops around the 10474.65, 10200.39, 10139.11, and 10082.97 levels.  Recently, Stops were elected above the 11761.97 and 11570.81 areas, and traders continue to focus on...

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ETH/USD Tests Major 418.79 Level: Sally Ho's Technical Analysis 2 August 2020 ETH

Ethereum (ETH/USD) gave back some recent gains early in today’s North American session as the pair depreciated to the 351.11 area after trading as high as the 415.00 area during the Asian session, its strongest print since August 2018.  Stops were elected above the 366.48 and 369.26 areas during the move higher, and then some accounts hunted for Stops and drove the pair lower to the 325.75 area.   The market tested the 418.79 level, an area that represents the 61.8% retracement of the historical depreciation from 627.83 to 80.60.  Additional upside price objectives include the 425.31, 437.31, and 454.79 areas. ...

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