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Ethereum Classic (ETC) Bears Have Formally Surrendered

Ethereum Classic (ETC) bears have literally given up for the first time in more than two years. The early signs of surrender started to appear when the 10 Week EMA broke below the 21 Week EMA on the weekly chart for ETCUSDShorts. The surrender was formalized when the price broke below the trend line for the first time since September 2017. The effects of this surrender will be seen when the retail bears realize that their leaders have put down their arms. Currently, only the bears at the forefront realize that the war is over and they have lost. However,...

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Strong Correlation Between Bitcoin (BTC) And The S&P 500

Bitcoin (BTC) and the S&P 500 have been known to exhibit strong correlation in the past. However, this correlation is even more pronounced at critical points. For instance, when the S&P 500 started to rally back in late 2016, BTC/USD started to rally in early 2017. Similarly, when Bitcoin (BTC) topped out in late 2017, the S&P 500 topped out as well. Unlike BTC/USD, the SPX500 did not go through a very long correction. However, the correction was as intense in terms of magnitude. Both the S&P 500 and Bitcoin (BTC) are now at a long term trend line and...

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Ethereum (ETH) Likely To Profit Off Bitcoin (BTC)’s Misery

Bitcoin (BTC) dominance is in a steady downtrend. The last few moves of capitulation seen in the market were aimed at lowering altcoin prices while Bitcoin (BTC) remains steady. As the Bitcoin (BTC) dominance chart shows, this is not going to happen anymore. In fact, the reverse is going to happen now. As Bitcoin (BTC) dominance falls, altcoins will move against Bitcoin (BTC) in order to complete their cycles. A lot of cryptocurrencies have now neared their lowest levels of dominance. Ethereum (ETH) is one of those cryptocurrencies. During the last altcoin run, Ethereum (ETH) became a market maker and...

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Stellar (XLM) Has Ample Room To Trade Sideways Till Year End

Stellar (XLM) has been in the same dilemma as Bitcoin (BTC). For the last few days, there has been no clear direction for XLM/BTC. The big picture however tells a different story. The weekly chart for Stellar (XLM) against Bitcoin (BTC) shows that the price might be consolidating above the trend line, preparing for a big move to the upside. However, the big swings that we have seen since the beginning of the correction seem to have run their course. As the swings have become incredibly short ranged, it is likely that Stellar (XLM) will continue with the same boring...

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Bitcoin (BTC) Bearish Scenario Valid Only If 21 Month EMA Is Broken

The cryptocurrency market is full of Bitcoin (BTC) bears at this point. The long, extensive correction has been instrumental in weakening bullish resolve. All the euphoria and enthusiasm felt around levels of $18,000 and higher has now been completely shattered. Just when the majority starts to feel the same way, is the time we can expect a trend reversal. This was true when Bitcoin (BTC) topped out and this is true now that BTC/USD seems to have bottomed out. Historical data suggests that every time Bitcoin (BTC) has remained above the 21 Month EMA, it has remained bullish. In fact,...

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