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Bitcoin (BTC) Turns Bearish After ETF Rejection

It is a sad day in the crypto community as the SEC has rejected a BItcoin (BTC) ETF Proposal presented by the Winklevoss Twins. Earlier this month, this ETF proposal became the cause of a lot of hype and FOMO which pushed the price rapidly from $6,200 to around $8,300 as can be seen on the BTC/USD  daily chart above. This misled many investors into thinking that the correction is over and Bitcoin (BTC) is out of the woods. While it may be true that we might be close to the end of this extended correction, it is likely that...

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Bitcoin (BTC) Likely To Find A Bottom between $5,000 And $3,000 This Year

Bitcoin (BTC) has run into resistance and now appears to have topped out once again as it sets for a pullback. EMA alignment for BTC/USD on the daily chart above continues to remain bearish. The price action is showing signs of weakness as the bulls lose momentum at the strong downtrend resistance. RSI on the daily chart has also reached overbought levels. Furthermore, the RSI is trading in a rising wedge, a bearish indicator which means the price is likely to retrace strongly in the next few days. A rejection at this point would prepare Bitcoin (BTC) for its next...

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Ripple (XRP) Finds Support At 100 EMA, Trend Reversal Likely

  Ripple (XRP) once the favorite stallion has recently been more of a dark horse as investors lose interest amidst legal troubles and concerns over XRP’s use cases. The above chart for XRP/USD shows that the price has suffered the most compared to most cryptocurrencies and appears to have reached rock bottom. RSI level for XRP/USD, is now once again at where it was before the beginning of the previous cycle. The price has also respected its long term ascending channel and is currently trading close to the lower limit of that channel. Ripple (XRP) is known for its wild...

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Has Stellar Lumens (XLM) Finally Broken Out Of The Downtrend?

Stellar Lumens (XLM) is once again on a bull spree as the price has broken out of a triangle on the daily XLM/USD chart and is now expected to surge higher in the days ahead. The last time Stellar (XLM) broke out of a similar triangle, it completed a massive bull run which led to Stellar Lumens (XLM)’s recent ATH. The price then followed a similar pattern and traded in another triangle all the way till mid July, until breaking out. The price is now once again at a similar point where such a rally can be expected. RSI conditions...

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Cardano (ADA) Correction Might Be In Its Final Stages

Cardano (ADA) is trading at the lower half of the pitchfork on the ADA/BTC chart above. This means that the cryptocurrency is close to finish its correction and will likely find a bottom around mid August, if it trades with the same momentum. RSI conditions for ADA/BTC still show price action to be in downtrend even as it nears oversold conditions. Wave trend analysis for the same chart shows that the price is likely to trade lower in the next few weeks until a bottom is found. Cardano (ADA) has so far respected lower limits of the pitchfork it is...

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