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ETH/USD Pinned Between Moving Averages: Sally Ho's Technical Analysis 16 May 2020 ETH

Ethereum (ETH/USD) retraced some earlier intraday gains during today’s North American session as the pair ran out of upward momentum around the 203.36 area and weakened to the 200.01 level.  Traders lifted the pair from the 198.57 level during the European session and some light Stops were elected above the 203.01 area, representing the 23.6% retracement of the recent appreciation from 123.72 to 227.50.  Notably, the 198.57 area was just below the 198.80 level, representing the 50% retracement of the recent depreciating range from 206.25 to 191.35.  Traders continue to monitor the 201.99 area, representing the 50% retracement of the...

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BTC/USD Bulls Empowered by 9362 and 9214 Support: Sally Ho's Technical Analysis 16 May 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 the pair ran into headwinds around the 9875.00 area during yesterday’s Asian session.  Traders pushed the pair as low as the 9226.08 area during yesterday’s Asian session, just above the 9223.97 area that represents the 23.6% retracement of the recent appreciation from 6456.00 to 10079.00.  Thereafter, BTC/USD was bid around the 9363.22 area during the European session, just above the 9362.24 area that represents an upside price objective related to buying pressure that emerged around...

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Bitcoin Downtrend Is Just Getting Started

Bitcoin has once again declined down to $9.5k after misleading traders into thinking that we might be headed higher. This is not the first time it has happened and it will not be the last. Every time when a downtrend is just about to begin in BTC/USD, the big players in this market keep playing these games to trap in more bulls and discourage the bears from shorting the market. At this point, the post halving profit taking has still not happened. In addition to that, we have miners who are worried about their profitability as the mining difficultly keeps...

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ETH/USD Orbits 200 After 205 Headwinds: Sally Ho's Technical Analysis 15 May 2020 ETH

Ethereum (ETH/USD) continued to orbit the psychologically-important 200.00 figure during today’s North American session as the pair declined from the 205.29 level during today’s Asian session and traded as low as the 196.82 area before traders lifted the pair back to the 201.91 area during the European session.  Some traders became bearish in the short-term during the Asian session when ETH/USD failed to move above the 205.44 area, representing the 76.4% retracement of the depreciation from 214.40 to 176.43.  Traders were then able to keep the pair bid above the 195.96 area, representing the 50% retracement of the depreciation from...

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10000 Back in View for BTC/USD Bulls: Sally Ho's Technical Analysis 15 May 2020 - BTC

Bitcoin (BTC/USD) continued its march towards the 10000 figure early in today’s Asian session as the pair steadily added to its recent gains before encountering resistance around the 9943.93 area, its strongest print since its rapid decline from the 10079 area last weekend.  Stops were elected above the 9613.54 and 9656.93 areas, representing the 76.4% and 78.6% retracements of the recent depreciation from 10079 to 8106.70.  Some additional Stops were also triggered above the 9750.51 area, an upside price objective related to buying pressure that emerged around the 3858 area in March.  The pair’s next such upside price objective is...

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