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BTC/USD Continues to Sputter Below 9250: Sally Ho's Technical Analysis 11 July 2020 BTC

Bitcoin (BTC/USD) was pressured early in today’s Asian session as the pair continued to encounter resistance around the 9250.00 area.  Traders lifted the pair to the 9245 area later in yesterday’s North American session, an area that has proven to be technical resistance at different times from June.  BTC/USD depreciated to the 9118.00 level during yesterday’s European session, just below the 9123.26 area that represents the 61.8% retracement of the recent appreciation from 8905.84 to 9475.00.  Stops were elected below the 9340.68, 9257.58, and 9190.42 levels during the recent move lower, representing the 23.6%, 38.2%, and 50% retracements of the...

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Bitcoin All Set For The Next Big Crash

Bitcoin is getting ready to go down again. At this point, we are waiting for the market to present us with further confirmation to enter short positions. We entered a short position around $9.2k today which has been playing out really well so far even though EUR/USD is showing temporary signs of strength which has led to confusing price action in Bitcoin as well.  The situation on ground is not in favor of the bulls. The bullish momentum is gone and it is only a matter of time that the bears gain full control of BTC/USD. The final frontier is...

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ETH/USD Capped by Technical Resistance Around 240.64: Sally Ho's Technical Analysis 10 July 2020 ETH

Ethereum (ETH/USD) appreciated in the North American session as the pair traded as high as the 240.63 level after bids emerged above the 235.56 level during the European session.  Traders took the pair as high as the 242.12 level during today’s Asian session before ETH/USD was knocked lower.  Technical resistance emerged right at the 61.8% retracement of the late-June depreciating range from 249.04 to 227.05.   Stops were recently reached below the 242.98 and 239.26 levels, representing the 23.6% and 38.2% retracements of the recent appreciation from 223.50 to 249.00.  Notably, the 249.00 area was also strong resistance for the pair...

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BTC/USD Again Fails to Test 9500: Sally Ho's Technical Analysis 10 July 2020 BTC

Bitcoin (BTC/USD) recovered a small amount of ground early in today’s Asian session after trading as low as the 9154.79 area during yesterday’s North American session.  Selling pressure commenced around the 9432.16 level after the pair peaked around the 9469.93 level during yesterday’s Asian session, the pair’s latest failure to test the psychologically-important 9500.00 figure.  Stops were elected below the 9340.68, 9257.58, and 9190.42 levels during the move lower, representing the 23.6%, 38.2%, and 50% retracements of the recent appreciation from 8905.84 to 9475.00.  Stops were also elected below the 9319.24 and 9222.88 areas, representing the 23.6% and 38.2% retracements...

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Why Bitcoin Outlook Remains Unchanged

Bitcoin outlook remains unchanged as the market has now done exactly what we have been expecting it to do since the beginning of the month. The price garnered the momentum to shoot from $9k to $9.5k which is what we predicted would happen on July 02, 2020 when the price of Bitcoin was trading around $8.9k. Now that BTC/USD has completed this move, we are expecting the downtrend to begin after some sideways movement.  The S&P 500 (SPX) has also played out as we expected. Earlier this month we entered a long position on the index which we have still...

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