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BTC/USD's Rapid Descent Slowed by 8820 Bids: Sally Ho's Technical Analysis 22 May 2020 BTC

Bitcoin (BTC/USD) clawed back from some recent losses during today’s Asian session as the pair moved back above the psychologically-important 9000 figure after declining to the 8800.00 level and electing large Stops below some key levels, including the 9242.11 and 9025.32 areas that represent the 38.2% and 50% retracements of the recent appreciation from 8106.70 to 9943.93.  Buying pressure emerged just below the 8808.52 area, a level that represents the 61.8% retracement of the same appreciating range.  Additional Stops were reached below the 9092.85 and 8860.12 levels during the descent, representing the 50% and 38.2% retracements of the recent depreciation...

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ETH/USD Crashes Below 200 in Quick Move: Sally Ho's Technical Analysis 21 May 2020 ETH

Ethereum (ETH/USD) depreciated sharply during today’s North American session as the pair rapidly fell to the 191.27 level following renewed selling pressure that originated around the 211.52 area during today’s Asian session.  The move below the 196.54 area was bearish as it represents a downside price objective related to selling pressure that originated around the 253.01 area in March.  Stops were elected below the 201.50, 196.72, and 191.93 areas during the move lower today, representing the 61.8%, 50%, and 38.2% retracements of the recent depreciation from 217.00 to 176.43. Additional Stops were elected below the 201.50, 196.71, and 191.92 levels,...

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All Odds Are Against Bitcoin This Time

Bitcoin is on the verge of a major decline. This time the odds are against it both as a “safe haven asset” and as a “speculative asset”. Whether you compare it with the stock market or the oldest safe haven asset known to man, gold, it is primed for a major correction either way. The price of Gold (XAU/USD) broke below the key rising wedge today and is now struggling to hold its ground above a key horizontal support which it is ultimately expected to break below. Meanwhile, Bitcoin broke a key trend line support and is now eyeing further...

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BTC/USD's Decline Slowed by 9299 Technical Bids: Sally Ho's Technical Analysis 21 May 2020 BTC

Bitcoin (BTC/USD) continued to trade sideways early in today’s Asian session as the pair climbed to the 9597.00 area after trading as low as the 9296.54 area during yesterday’s North American session. This level was just below the 9314.45 area that represents the 23.6% retracement of the depreciation from 9943.93 to 9120.00, and just below the 76.4% retracement of the recent appreciation from 9120.00 to 9957.25.  Despite an acute downward move from the 10079 area more than one week ago, BTC/USD has been steadily bid higher from the 3858 area in March following its rapid descent from the 10522.51 area...

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ETH/USD Plunge Finds Bids Just Below 205.44 Area: Sally Ho's Technical Analysis 20 May 2020 ETH

Ethereum (ETH/USD) was quite volatile during today’s North American session as the pair sharply fell to the 205.10 level after running out of steam around the 214.78 area.  Stops were elected below the 211.90 and 210.69 areas during the rapid plunge, technical levels that represent the 38.2% and 23.6% retracements of the recent depreciation from 216.99 to 208.75.  Bids finally emerged just below the 205.44 area, an important price level that represents the 76.4% retracement of this month’s depreciation from 214.40 to 176.43.  Bullish sentiment remains intact following the pair’s improvement from the 90.00 level in March, with Stops recently...

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