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Bitcoin (BTC) Might Finally Be Out Of The Woods As Price Bounces Off Weekly 200 EMA

Bitcoin (BTC) might finally be out of the woods this time as its price finds support at the 200 EMA on the weekly chart for BNC:BLX above in addition to its previous resistance turned support as well as the $5,800 support. This confluence of supports makes it very difficult for the bears to push the price lower from current levels. RSI is already trading in a falling wedge and is all set to break out of it in the weeks to come. Elliot Wave Oscillator on the above chart for Bitcoin (BTC) shows the price to have reached the extent...

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Litecoin (LTC) Gears Up For An Aggressive Breakout In The Weeks Ahead

Litecoin (LTC) finally seems to have reached its bottom against the US Dollar (USD) as the price has stabilized just above the historical resistance of $56. The 200 EMA acts as additional support to the price can be seen on the LTC/USD chart above. The RSI for Litecoin (LTC) has now reached a critical point as it has to break out next week, either to the upside or the downside. Demarker indicator for LTC/USD shows that the price has reached rock bottom on the weekly chart and is on the verge of a price reversal from here. Litecoin (LTC) like...

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Ethereum Classic (ETC) Finds Bottom At $10, Forms A Bullish Hammer Reversal Candlestick

Ethereum Classic (ETC) has just formed a bullish hammer candlestick on the daily ETC/USD chart above, which followed by a green candle is a strong sign of a downtrend capitulation as it indicates that the bears have finally given up. This marks the beginning of a new cycle for Ethereum Classic (ETC) as a reversal is expected from these levels. The solid support of $10 has served as a historical demand zone for Ethereum Classic (ETC), and is a very strong one. As the chart above demonstrates, Ethereum Classic (ETC) rebounded strongly from the $10 support. The RSI had already...

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Bitcoin (BTC) Downtrend Resistance Turns Into Strong Support Amid Bullish Comeback

Bitcoin (BTC) has been in a constant downtrend for the last few weeks. The price crashed especially hard during the last few days. The price did break below $6,000, but contrary to expectations, the price found support at what was previously a downtrend resistance as can be seen on the BTC/USD daily chart above. The fall slowed down after Bitcoin (BTC) breached $6,000 but Bitcoin (BTC) was still expected to test the $5,800 support, which it didn’t. The reason for that is that Bitcoin (BTC) found another support before the historical $5,800 support which also served as a support before...

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Ethereum (ETH) Undergoes Worst Correction Ever As Price Plummets More Than 81% Since All Time High

Ethereum (ETH) has now undergone the worst correction in its history. The price is down more than 81% since its all time high and could fall even further as indicated by the ETH/USD weekly chart above. The RSI level for Ethereum (ETH) is well in the oversold region but it has just bounced off a resistance and can be expected to fall further to touch the lower limit of the falling wedge that the RSI is trading in. It is pertinent to note though that the price has now traded further along the falling wedge such that a breakout can...

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