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9661.51 Remains Elusive for BTC/USD Bulls: Sally Ho's Technical Analysis 18 June 2020 BTC

Bitcoin (BTC/USD) failed to sustain recent short-term gains early in today’s Asian session as the pair continued to back away from the 9500 area, having peaked around the 9558.48 area during yesterday’s North American session.  Traders have been unable to keep the pair above the 9530.47 area during its recent brief trading activity above this level, representing the 50% retracement of the recent appreciation from 8632.93 to 10428.00, and this has been bearish for BTC/USD in the short-term.  Traders are observing how the pair will trade when it tests the 9318.65 level, representing the 61.8% retracement of the same range. ...

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Bitcoin Can Test 9.7k Before Next Decline

Bitcoin seems all set to test the trend line resistance for the third time which means that we could see $9.7k near-term before the downtrend ensues. It is important to realize that this is one of the last few uptrends within this downtrend before the road to $3k. Throughout the ongoing uptrend, we have been bullish where there have been good opportunities. When BTC/USD was trading around $6.7k, I discussed how it was very likely to rally towards $9k to fill the CME Futures gap and it played out as we anticipated. However, the larger trend remains bearish and has...

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ETH/USD Spike Capped Below 237.86: Sally Ho's Technical Analysis 17 June 2020 ETH

Ethereum (ETH/USD) was volatile early in today’s North American session as the pair spiked higher to the 237.00 area after buying pressure emerged around the 232.68 area.   Notably, this intraday high was below the 237.86 area, representing the 61.8% retracement of the recent depreciation from 250.26 to 217.79.  Technical trading activity was detected earlier in the European session when traders tested the 231.88 area, representing the 38.2% retracement of the recent appreciation from 196.69 to 253.64.  Price activity remains below the 234.03 area, representing the 50% retracement of the recent depreciating range from 250.26 to 217.79.  The 237.86 level is...

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BTC/USD Hovering Around 9480.61 Technical Level: Sally Ho's Technical Analysis 17 June 2020 BTC

Bitcoin (BTC/USD) continued to trade around some technical levels early in today’s Asian session as the pair orbited the 9480.61 level, representing the 38.2% retracement of the recent depreciating range from 10428 to 8895.01.  Stops were reached above the 9256.80 level during the pair’s climb higher from recent lows, representing the 23.6% retracement of the same depreciating range, and the next upside retracement level in this depreciating range is the 9661.51 area.  Below current market activity, Stops were recently elected below the 8993.44 area during the pullback, representing the 61.8% retracement of the appreciation from 8106.70 to 10428, and additional ...

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Why Bitcoin Will Plunge Below $3k

Bitcoin (BTC) has climbed back above $9.4k in an aggressive move. It has become very clear now that BTC/USD intends to test the main trend line resistance for the third time just like it did in March before the brutal downtrend started. It is important to realize that the uptrend is already broken at this point. We are just waiting for the downtrend to formally begin now. The bulls have lost control but the market makers and whales are not on the side of the bears yet. In fact, they want to shake out some impatient bears before the downtrend...

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