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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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ETH/USD Again Tests 249 Area and Craters: Sally Ho's Technical Analysis 9 July 2020 ETH

Ethereum (ETH/USD) fell sharply in the North American session as the pair traded as low as the 237.04 level after encountering resistance around the 247.67 area.  The pair had traded as high as the 249.00 area during the Asian session before traders ran out of steam and were unable to test the psychologically-important 250.00 figure.  Stops were 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.  Traders prevented ETH/USD from testing the 236.25 level, representing the 50% retracement of the appreciating range. Notably, the 249.00 area was also...

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BTC/USD Longs Eyeing 9582.92: Sally Ho's Technical Analysis 9 July 2020 BTC

Bitcoin (BTC/USD) extended recent gains above the psychologically-important 9000 figure early in today’s Asian session as bulls attempted to get back above the 9379.34 area that the pair peaked around earlier this week.  Buying pressure emerged around the 9201.57 area during yesterday’s Asian session, a level it encountered when traders tested the 9198.46 area that represents the 38.2% retracement of the recent appreciation from 8905.84 to 9379.34.  BTC/USD was capped in the short-term around the 9337.99 area, just below the 9338.59 area that represents the 78.6% retracement of the depreciation from 9375.90 to 9201.57.   Traders are eyeing the 9418.79, 9516.43,...

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Don’t Miss This Bitcoin Trade

Bitcoin is getting ready for that big downtrend now that it is done testing the trend line resistance. The daily chart for BTC/USD shows that it has also tested the 50-day moving average and faced a rejection at it. This points to one conclusion and that is the beginning of the long-anticipated downtrend from this point forward. As discussed before, we are in no hurry and would be waiting for ample confirmation before we go short on the market.  As of now, retail consensus seems to be shifting to the bullish side after the recent rally. There are reports that...

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