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ETH/USD Claws Back After Decisive Selling Pressure: Sally Ho's Technical Analysis 16 July 2020 ETH

Ethereum (ETH/USD) battled back from selling pressure early in today’s North American session as the pair traded as high as the 232.57 level after trading as low as the 229.77 area during today’s European session. Sharp selling pressure arose earlier in the European session that saw the pair given from the 238.54 level after selling pressure commenced around the 239.16 area during the Asian session.  Following the depreciation to intraday lows, traders lifed the pair higher to the 232.89 area after some Stops were elected above the 232.66 area, representing the 23.6% retracement of the recent depreciation from 242.01 to...

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BTC/USD Has Something to Prove at 9331.75: Sally Ho's Technical Analysis 16 July 2020 BTC

Bitcoin (BTC/USD) lacked fresh conviction early in today’s Asian session as the pair continued to search for a market bias following its continued gyrations between the psychologically-important 9000 figure and the 9500 area.  Strong upward momentum lifted the pair from the 9100 level in Tuesday’s European session, propelling it as high as the 9280 level before upward pressure subsided.  Notably, the 9237.52 level represents the 23.6% retracement of this short-term appreciating range, and traders have been unable to gain a foothold above this area.  Traders found some technical support during yesterday’s European session just below the 9190.42 area, representing the...

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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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