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Bitcoin (BTC) Begins The Week In Red But There Isn’t Much Room For Further Downside

Bitcoin (BTC) is an uptrend as the price seems to have entered a new ascending channel that can be seen on the 4H chart for BTC/USD above. This channel has held so far since the last few weeks of August and can be seen as the gateway to a trend reversal. However, the price seems to have lost the bullish momentum that kicked in soon as Bitcoin (BTC) closed last month above 21 EMA on the monthly time frame. That does not mean though that the bears are in charge but the price is likely to retrace for now. There...

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Ethereum Classic (ETC): The Only Top 20 Cryptocurrency In The Green As The Market Bleeds Red

Ethereum Classic (ETC) is up more than 5% for the last 24 hours while the rest of the crypto market bleeds. This makes Ethereum Classic (ETC) the only top twenty cryptocurrency in the green. Ethereum Classic (ETC) is known for holding its ground during bad times, which perhaps is why the cryptocurrency is up as the rest of the market is down. This behavior has been observed in the past and it is likely that by now most investors realize that Ethereum Classic (ETC) is already too undervalued to go down further. However, this time around, the reasons for this...

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Ripple (XRP) Is About To Begin A New Cycle, But Can It Make Similar Gains?

Ripple (XRP) is about to begin a new trend. The weekly chart for XRP/USD shows that this could be as soon as next week when Ripple (XRP) forms a new candle outside the bullish gartley formation on the XRP/USD chart. Volume price confirmation indicator for XRP/USD shows the new trend has already started. MACD diagram for the above chart shows that the correction has run its course and Ripple (XRP) is ready to begin a new trend from here. Volume has also been declining steadily and has now reached a point where a break out is expected. The question is...

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Bitcoin (BTC) Halvening And Its Effect On Market Cycles

Bitcoin (BTC) halvening has an interesting effect on market cycles as we have seen during the recent correction. The above chart for BTC/USD clearly demonstrates how Bitcoin (BTC) halvening has not just brought about the halvening of Bitcoin (BTC) mining rewards, but also the halvening of market cycles in a similar manner. The first period of correction shown on the chart ranges between November 2013 and February 2015.  This correction lasted a period of 441 days. This was just before Bitcoin (BTC)’s halvening in 2016 which also halved the period of correction that followed. From December 2017 to August 2018,...

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Trading Bitcoin (BTC) Has Been The Same As Trading The Euro (EUR/USD) On Margin

Bitcoin (BTC) and the Euro (EUR/USD) have been trading not just in the same direction, but in a similar manner. The above weekly charts for BTC/USD and EUR/USD show that the both topped out around January 2018 and since then have been in a correction. Bitcoin (BTC) broke the downtrend against US Dollar which later became a support as Bitcoin (BTC) bounced off it in August. The same happened with EUR/USD as the Euro broke the downtrend against US Dollar which later became a support. The three green candles visible on the EUR/USD weekly chart show that the Euro has...

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