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9750.51 Looms Large for BTC/USD Bulls: Sally Ho's Technical Analysis 26 July 2020 BTC

Bitcoin (BTC/USD) added to its recent positive market bias early in today’s Asian session as traders continued to seek buying opportunities above the psychologically-important 9500 level after trading as high as the 9686 area late last week.  Some traders are beginning to focus on the psychologically-important 10000 figure but BTC/USD has some significant technical resistance to move above before this area comes into view.  One area of probable technical resistance is around the 9735.06 – 9761.54 range, representing the 76.4% and 78.6% retracements of the recent depreciation from 10019.12 to 8815.46.  Likewise, the 9811.84 area is another level of technical...

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ETH/USD Poised to Make a Run at 300? Sally Ho's Technical Analysis 25 July 2020 ETH

Ethereum (ETH/USD) extended recent gains early in today’s North American session as the pair traded as high as the 284.12 level after encountering selling pressure around the 287.80 level during the Asian session, stopping just short of establishing a new 2020 high above the 290.00 area.  Significant Stops have recently been elected above the 278.02 area, an upside price objective related to buying pressure that emerged around the 90.00 area in March.  Similar upside price objectives related to buying pressure from the 90.00 area include the 290.07, 301.02, 312.82, 316.32, 336.10, and 337.33 areas.  In the short-term, traders are observing...

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10000 or 9000 Next for BTC/USD? Sally Ho's Technical Analysis 25 July 2020 BTC

Bitcoin (BTC/USD) fought to maintain its recent bid early in today’s Asian session as the pair continued to orbit the psychologically-important 9500 level after trading as high as the 9686 area early in yesterday’s Asian session.  Stops were elected above the 9582.92 area during the ascent, representing the 78.6% retracement of the depreciating range from 9792 to 8815.01.  Additional Stops were elected above the 9621.51 area, representing the 50% retracement of the depreciating range from 10428 to 8815.01.  Some important technical levels that represent possible upside price resistance include the 9792.00, 9811.84, 9836.99, 9880.17, 9943.93, and 9957.25 levels.  Following the...

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Bitcoin (BTC) Bulls Lose Momentum

Bitcoin has lost the bullish momentum it had garner the past few days. The bulls appear weak at the momentum and we have just seen the S&P 500 (SPX) break below a key trend line support. This is not good for the bullish case and for that reason we are now out of our long positions. We would be waiting for market conditions to change before we enter further positions. So far, we do not have a decisive move in either direction.   The sideways movement for now in BTC/USD indicates that the market might not do anything of consequence...

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ETH/USD Within Striking Distance of 2020 High Print: Sally Ho's Technical Analysis 24 July 2020 ETH

Ethereum (ETH/USD) traded sideways early in today’s North American session as the pair traded as high as the 276.60 level after trading as low as the 268.38 level during the European session. During yesterday’s North American session, traders extended recent gains and pushed ETH/USD to a recent multi-week high of 282.60, within strinking distance of the pair’s 2020 high print of 290.00.   ETH/USD pulled back during the Asian session and some Stops were reached below the 270.13 level, representing the 23.6% retracement of the appreciating range from 229.77 to 282.60.  Some technical support later emerged at the 273.00 area, just...

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