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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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Foxconn And Ethereum Classic (ETC): A Match Made In IOT (Internet Of Things)

Chart for ETC/BTC (1W) A cryptocurrency is judged based on the number of Dapps or partnerships it has in this market. If it is a ‘centralized’ cryptocurrency like Ethereum (ETH) or Ripple (XRP) their teams announce those ‘partnerships’ and we hear about it. However, if it is a decentralized cryptocurrency like Ethereum Classic (ETC) there is no one to announce any partnership because nobody owns Ethereum Classic (ETC) and we have to do our own digging. How would it look if a group of developers working on Bitcoin (BTC) announce that they have partnered with Newegg or Starbucks to accept...

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Bitcoin (BTC) Likely To Climb Back To $4,000 But Downtrend Remains Intact

Bitcoin (BTC) is still in a downtrend but it has now bounced off the bottom of the descending channel it is trading in. This is why BTC/USD is expected to at least climb all the way back towards the top of the channel before beginning another wave. A lot of indicators on higher time frames indicate that this might have been the last wave down for the next few months, meaning that we have reached a bottom but a double bottom will likely be formed in the next few months. It is thus very probable that Bitcoin (BTC) will climb...

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Ripple (XRP) Bears Running Scared As Number Of Shorts Drops Double Digits

Ripple (XRP) shorts started to tumble soon as they reached the previous all time high. In fact, the 4H chart for XRPUSDShorts shows that the bears are so scared that the number of shorts had to drop double digits despite Bitcoin (BTC) and Ripple (XRP) both being trading in the red today. The situation that we see now is that Ripple (XRP) bears not only have to worry about a rising Bitcoin (BTC) but they also have to worry about an independent Ripple (XRP) that could perform a miracle during a market meltdown. So, shorting Ripple (XRP) is beginning to...

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