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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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Bitcoin Cannot Stall The Next Big Crash For Long

The price of Bitcoin continues to resist a major decline. So far, the market makers and whales have done everything they can to save the price from collapsing. If it weren’t for their efforts, BTC/USD would have already declined pretty aggressively. They barely saved it from declining down to zero previously in a flash crash. Even yesterday, the Bitmex exchange mysteriously went offline at a critical time. None of this is a coincidence. We all know that they wouldn’t have to resort to any of this if the trading activity was real for the most part. It should be obvious...

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BTC/USD Eyeing Another Run at 10000: Sally Ho's Technical Analysis 20 May 2020 BTC

Bitcoin (BTC/USD) continued to trade sideways early in today’s Asian session as the pair moved to the 9709.19 area after trading as high as the 9898.00 area during yesterday’s European session and trading as low as the 9614.30 area during yesterday’s European session.  After peaking around the 9957.25 area earlier this week, the pair came off to the 9436.97 level, right around the 38.2% retracement of the recent depreciation from 9943.93 to 9120.00.  Despite an acute downward move from the 10079 area just over one week ago, BTC/USD has been steadily bid higher from the 3858 area in March following...

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