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Bitcoin (BTC)’s Swift Recovery Towards $6,000 And The Inevitable Short Squeeze

Bitcoin (BTC) is due for a swift recovery towards $6,000 as long as it closes the current weekly candle above trend line support. RSI for BTC/USD points to a similar outcome on the weekly chart. Bitcoin (BTC) recently broke market structure which led to a crippling correction the likes of which we have not seen in the past. This correction or crash has now become a part of Bitcoin (BTC)’s outlook for years to come. The moment it broke below the $5,800 level, Bitcoin (BTC) completely shattered any hopes of a bullish comeback towards the end of the year. Some...

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Ethereum Classic (ETC) Technicals Point To Massive Growth In Upcoming Months

Ethereum Classic (ETC) just fell to a new yearly low in the wake of another market crash. ETC/USD has broken several supports and market structures over the past few weeks. This has happened so often that it almost makes no sense to be looking at the ETC/USD chart right now. Whenever Bitcoin (BTC) takes a fall, most cryptocurrencies have to fall even if it means breaking below a strong support. A support is only strong as long as Bitcoin (BTC) allows it to be. Let’s face it, most people in this market do not believe in other coins. If Bitcoin...

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Ripple (XRP) Finds Strong Support At Historical Trend Line

Ripple (XRP) has finally found its strongest support in months. The weekly chart for XRP/USD shows Ripple (XRP) bouncing off a historical resistance that extends all the way to Jun 2017. This is not the only trend line support Ripple (XRP) has found. The chart shows that previous resistances during the downtrend have turned into supports. That way, the price has also found another trend line support (shown in yellow) which further strengthen the prospects of a trend reversal. The bear market seems to be finally over for XRP/USD as the price has now corrected to its full potential. Just...

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Bitcoin (BTC) Finally Presents Perfect Setup For A Massive Short Squeeze

Bitcoin (BTC) currently presents the perfect setup for a short squeeze. The number of shorts has reached an all time high and it is not clear what the bears are thinking or better yet, drinking. At every point of reversal in a market, the investor that goes with the herd suffers the most. The mentality of bulls and bears is completely different as the former trades on FOMO whereas the latter trades on FUD. Both can use market sentiment to their advantage during an ongoing cycle. However, trouble arises when they do not realize that the trend is about to...

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Ripple (XRP) Poised For A Decisive Breakout By Weekend

Ripple (XRP) has formed a descending triangle but inside that triangle, it has formed a falling wedge. So, which way is the price going to break out? Well, under the present circumstances the probability of the price breaking to the upside is a lot higher. If that happens, we should be able to see XRP/USD climbing towards $0.50 around late December. The price is still in a downtrend long term and is yet to break out of the descending channel it is trading in. That being said, the chances of a reversal at this point are very high, even if...

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