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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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Can ETH/USD Bulls Ride Above 245.37? Sally Ho's Technical Analysis 8 July 2020 ETH

Ethereum (ETH/USD) appreciated early in the North American session as the pair traded as high as the 244.74 area after trading as low as the 236.59 area during the Asian session.   Decent buying pressure emerged around the 238.30 area early in the European session and launched ETH/USD to its highest print since late June.  Stops were elected above the 241.04 and 241.79 levels, representing the 76.4% and 78.6% retracements of the recent depreciation from 249.04 to 215.16.  Notably, the 244.53 level represents the 76.4% retracement of the recent depreciation from 253.60 to 215.16, and the 245.37 level represents the 78.6%...

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Upward BTC/USD Momentum Focused on 9558 and 9621: Sally Ho's Technical Analysis 8 July 2020 BTC

Bitcoin (BTC/USD) continued to maintain some progress above the psychologically-important 9000 figure early in today’s Asian session as traders contemplated the pair’s next moves following its recent high print around the 9379.34 area during yesterday’s Asian session.  Traders are closely monitoring three recent depreciating ranges including the move from 9792.00 to 8815.01, the move from 10018.67 to 8815.01, and the depreciation from 10428.00 to 8815.01.  Important technical levels related to these depreciating ranges include the 9416.84, 9418.79, 9561.43, 9558.87, 9582.92, 9621.51, 9734.61, 9761.09, 9811.84, 10047.33, and 10082.82 areas.  Stops are likely in place above some of those technical levels, and...

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ETH/USD Considering Another Run at 250.00: Sally Ho's Technical Analysis 7 July 2020 ETH

Ethereum (ETH/USD) appreciated early in the North American session as the pair traded as high as the 236.18 area after trading as low as the 234.55 area during the European session.   After the pair printed as high as the 234.82 area during yesterday’s Asian session, Stops were elected below the 239.02 and 236.06 areas during the pullback, representing the 23.6% and 38.2% retracements of the recent appreciation from 223.50 to 243.82.  Notably, the 243.85 area represents the 76.4% retracement of the recent depreciating range from 249.04 to 227.05, and this area emerged as technical resistance.  If ETH/USD is able to...

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BTC/USD Bulls Eyeing 9621.51: Sally Ho's Technical Analysis 7 July 2020 BTC

Bitcoin (BTC/USD) extended recent gains early in today’s Asian session as the pair continued to score gains above the psychologically-important 9000 figure.  Buying pressure emerged around the 8905.84 area during yesterday’s Asian session, just below the 8918.20 area that represents the 78.6% retracement of the recent appreciation from 8815.01 to 9297.20.  Traders lifted the pair as high as the 9352.15 area during yesterday’s North American session before some profit-taking emerged.  If BTC/USD bulls are able to resume their upward momentum, some important price targets include the 9416.84, 9431.17, 9558.87, 9621.51, and 9734.61 areas.  The 9530.47 and 9742.28 areas also upside...

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