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Ethereum Classic (ETC) Unlikely To Hold Ground As Bitcoin (BTC) Falls Further

Ethereum Classic (ETC) has done a good job at holding ground as the rest of the market declined. In fact, the chart above for ETC/USD shows Ethereum Classic (ETC) in the green while the rest of the market is deep in the red. Now this might give some the false impression that Ethereum Classic (ETC) is invincible, but that is not the case. It is immutable, it is decentralized, but it is not invincible! If Bitcoin (BTC) goes down, Ethereum Classic (ETC) goes down, maybe not immediately but ultimately. If we look at the 4H chart for ETC/USD, we can...

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Bitcoin (BTC) All Set To Hit New Yearly Low This Week

Bitcoin (BTC) has continued its decline below the 21 EMA as can be seen on the 4H chart for BTC/USD. The price is all set to drop further in order to hit a new yearly low by the end of the week. All the technical indicators favor a drop to $3,000 or slightly lower before the price can recover. RSI for BTC/USD shows room for further decline. As the price did not recover as expected after dropping to the current yearly low, it was understood that neither the bears nor the bulls were convinced that it was over. A final...

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Ripple (XRP) Due For Further Downside Before Swift Recovery By Year End

Ripple (XRP) dropped below $0.30 today after facing rejection at the 5 Day EMA. The price has declined aggressively since mid November but there is still room for further downside. The daily chart for XRP/USD shows the price trading in a falling wedge. Having just been rejected at the top of this wedge, the price is now likely to decline to the bottom of this wedge to find a temporary bottom before reversal. Volume has started to decrease once again and it would not be surprising to see Ripple (XRP) making an aggressive move to the downside to establish a...

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Bitcoin (BTC) Likely To Test $3,000 Before Expected Trend Reversal

Bitcoin (BTC) is likely to fall to $3,000 before the long expected trend reversal. The probability of that happening now is higher than ever considering the price as run into a strong resistance. The price has faced a strong rejection at this resistance and is likely to fall significantly in the next 48 hours. It is also possible that BTC/USD may fall slightly below $3,000 to trap in some bears and trigger the big short squeeze that we have been calling for the past few days. The number of Bitcoin Shorts has already started to decline but chances are that...

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Ethereum Classic (ETC) Risks Further Sell Off After Rejection At 10 Day EMA

Ethereum Classic risks further downside despite being down significantly from its all time high. Contrary to popular sentiment, ETC/USD declined below $5 and continued its fall all the way towards $3. The number of people who believe the price can fall a lot further is now at an all time high shown by the rising number of ETCUSDShorts. This belief is strengthened by the recent shutdown of ETC Dev, a major development company that helped bring Ethereum Classic (ETC) to the limelight after the Ethereum (ETH) hard fork. When ETC Dev announced its shutdown, a vast majority of cryptocurrency investors...

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