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Short-Term ETH/USD Technical Support at 234.12: Sally Ho's Technical Analysis 13 June 2020 ETH

Ethereum (ETH/USD) moved slightly higher during today’s North American session as the pair gained ground to the 236.64 level after trading as low as the 234.11 area during today’s European session, right around a retracement level that represents the 61.8% retracement of the recent appreciation from 225.60 to 247.90.  During today’s Asian session, the pair was unable to get too far above the 238.19 level, representing the 76.4% retracement of the recent depreciation from 239.54 to 233.84, and the pair encountered technical resistance around the 61.8% retracement of this range during today’s European session.  Traders are carefully monitoring some upside...

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Will BTCUSD Print at 10000 or 9000 First? Sally Ho's Technical Analysis 13 June 2020 BTC

Bitcoin (BTC/USD) continued to orbit the 9500 level early in today’s Asian session as the pair extended its recent gyrations below the psychologically-important 10000 figure after recently peaking around the 10018.67 area.  Traders pushed the pair as low as the 9050 area during Thursday’s North American session after Stops were elected below the 9490.61 area, representing the 23.6% retracement of the appreciation from 6456 to 10428.   The 9028.89 area represents an important upside price objective related to buying pressure that emerged around the 3858 area earlier this year, and bids late this week supported that level.  Stops were recently reached...

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The Next Bitcoin Crash Might Be More Painful

The recent decline in BTC/USD has exposed the weakness in the cryptocurrency market. For weeks now, retail traders were led into thinking that the market was ready to surge higher. However, it has now become quite clear that this is not the case. In fact, the market is ready to decline further and this time we might see it fall below $9k which will hand over the reins to the bears and then the carnage will finally begin. Until recently, the bears were too scared to get involved. Constant Tether (USDT) printing and pumping discouraged even more experienced traders from...

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ETH/USD Tests Key Technical Support at 225.13: Sally Ho's Technical Analysis 12 June 2020 ETH

Ethereum (ETH/USD) extended earlier gains during today’s North American session as the pair gained ground to the 237.27 level after trading as low as the 225.20 area during yesterday’s North American session.  Traders pushed the pair decisively lower yesterday, with bids emerging right around the 50% retracement of the recent appreciation from 196.65 to 253.60.  Buying pressure emerged and prevented the pair from testing the 222.95 area, representing the 23.6% retracement of the recent broader appreciation from 123.72 to 253.60.  Traders are carefully monitoring some upside retracement levels including the 237.75, 240.70, and 244.35 areas, representing the 50%, 61.8%, and...

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BTC/USD Again Pressured Below 10000: Sally Ho's Technical Analysis 12 June 2020 BTC

Bitcoin (BTC/USD) remained on the defensive early in today’s Asian session as the pair continued to drift further away from the psychologically-important 10000 figure after peaking around the 10018.67 level during Wednesday’s North American session.  Stops were elected above the 9880 and 9888 areas during the climb higher, representing recent price resistance.  One level that traders are monitoring is the 9613.54 area, representing the 76.4% retracement of the recent depreciation from 10079 to 8106.70.  One recent trading range is the recent appreciation from 9270 to 9888, and the 9742.15 area represents the 23.6% retracement of this range, another indication that...

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