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Bitcoin (BTC) Falls While Stocks Rally Again

Bitcoin crashed below a key support yesterday but there was no follow through. So, the price ended up climbing back above the support and flipped bullish. Even though it is now showing signs of strength, there is a good chance that it is all temporary and we might be headed lower after a near term retest of the trend line support turned resistance. In the most optimistic scenario, we could expect a rally towards $9.5k now that the S&P 500 (SPX) has also started the day in green and has shot past the psychological resistance of 3,000. It is important...

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Shallower ETH/USD Highs May Indicate Weakness Ahead: Sally Ho's Technical Analysis 26 May 2020 ETH

Ethereum (ETH/USD) reversed some recent weakness during today’s North American session as the pair depreciated to the 200.07 area after trading as high as the 205.71 level early in today’s Asian session, just above the 205.44 area that represents a downside price objective related to selling pressure that originated around the 214.40 area earlier this month.  The 199.90 area represents another downside price objective related to selling pressure that emerged around the 214.40 area, and was supportive of ETH/USD during the move lower today.  Traders continue to monitor multiple trading ranges, including the recent appreciation from 176.43 to 216.99.  The...

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BTC/USD Retraces Higher from 2-Week Lows: Sally Ho's Technical Analysis 26 May 2020 BTC

Bitcoin (BTC/USD) reversed some recent losses early in today’s Asian session as the pair escalated to the 8962.48 area after weakening to the 8632.93 area during yesterday’s Asian session, its weakest showing in a couple of weeks.  Stops were elected below the 8917.09 area during the move lower, a downside price objective related to selling pressure that emerged around the 9836.99 level last week.  During the recovery during today’s Asian session, the pair got back above the 8917.09 area, representing the 23.6% retracement of the recent depreciation from 9836.99 to 8632.93.  Traders recently stopped short of testing the 9318.50 level,...

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Technical Bids at 198.09 Support ETH/USD Below 200: Sally Ho's Technical Analysis 25 May 2020 ETH

Ethereum (ETH/USD) was mostly rangebound during today’s North American session as the pair came off to the 201.31 level after trading as high as the 204.93 area during today’s European session.  The pair weakened to the 198.01 area during today’s Asian session, a previous relative high from late April.  The pair has recently orbited the 206.57 area, representing the 23.6% retracement of the appreciating range.  Traders continue to monitor multiple trading ranges, including the recent appreciation from 176.43 to 216.99.  The 201.50 and 196.71 areas represent the 38.2% and 50% retracements of this range, and ETH/USD bulls are looking to...

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Bitcoin Breaks Below Key Support

Bitcoin just crashed below a key support and is struggling to hold its ground lest it plunges further. The bulls are losing hope and the bears are preparing to take on the reins. If BTC/USD were to decline below the 200-moving average on the 4H time frame, the bears would be eager to fight for control. So far, the tug of war continues and we don’t have a clear winner because the bulls can still save the price from falling further.  The near-term support for Bitcoin could be the 23.6% fib level where it could see a reversal. This would...

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