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Bitcoin Awaits The Next Big Move In Stocks

Bitcoin has been trading sideways these past few weeks. It is now waiting for the next decisive move in stocks so it can finally break out of indecision. At the moment, it seems like the market is getting ready for a big move because volume on BTC/USD is drying up. The S&P 500 (SPX) has been making some good gains meanwhile and has now tested the previous top. This has made Bitcoin traders even more restless who are now waiting for a move out of the chop zone. The altcoin market has seen some movements recently but it is still...

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ETH/USD Orbiting 239.26 Technical Level: Sally Ho's Technical Analysis 15 July 2020 ETH

Ethereum (ETH/USD) found a slight bid early in today’s North American session as the pair traded as high as the 240.04 level after trading as low as the 238.11 area during today’s European session. Traders took the pair as high as the 242.01 area early in today’s Asian session, just above the 241.79 level that represents the 78.6% retracement of the recent depreciation from 249.04 to 215.16.  The pair’s inability to gain traction above this level suggests some short-term weakness is likely for ETH/USD.  One short-term appreciating range that traders are observing is the recent move from 233.50 to 249.00,...

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9303.51 Remains a Key BTC/USD Challenge: Sally Ho's Technical Analysis 15 July 2020 BTC

Bitcoin (BTC/USD) awaited fresh market sentiment early in today’s Asian session as the pair continued to oscillate between the psychologically-important 9000 figure and the 9500 area.  Traders recently took the pair as high as the 9339.61 level, an area of technical resistance that represents the 23.6% retracement of the recent appreciation from 8905.84 to 9475.00.  Likewise, that level was also right around the 9331.75 area, representing the 61.8% retracement of the recent depreciation from 9475.00 to 9100.00.  Some traders believe BTC/USD is exhibiting a downward bias given some of the recent resistance it has encountered, and a series of lower...

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Bitcoin Bear Trap Before The Crash?

Bitcoin traders are confused as to the direction of the market as BTC/USD has been trading sideways for a long time. This usually gets too boring for most traders and they assume this means the market has run out of steam and is ready to keel over. While we do expect a major crash in Bitcoin, one that would probably put the crash from March to shame, it is important to realize that it is not going to happen when everyone is expecting it.- Crypto Twitter plays a major role in shaping retail sentiment in this market. We have noticed...

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241.02 Technical Area Emerges as Short-Term ETH/USD Resistance: Sally Ho's Technical Analysis 14 July 2020 ETH

Ethereum (ETH/USD) rallied higher early in today’s North American session as the pair traded as high as the 241.09 level after trading as low as the 236.66 area during today’s European session.  Technical resistance emerged just above the 241.02 area earlier in the North American session, representing the 50% retracement of the recent depreciation from 245.37 to 236.66.  The depreciating range’s next upside retracement levels include the 242.04, 243.31, and 243.51 levels.  Traders observe that the pair has recently tested and managed to remain above the 236.25 level, an area that represents the 50% retracement of the recent appreciation from...

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