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Bitcoin Pumped Past $8k. What Now?

Bitcoin has finally done what we have been expecting for weeks now. The price shot up past $8k and the bulls seem to have taken control for now. This is a point where a lot of retail traders will get very excited especially as all this is happening before halving. Most prominent Bitcoin figures are also reaffirming their bullish targets of $200k and higher to spark more bullishness in the market. The simple principle of “be fearful when others are greedy and vice versa” works well at all times even in this market. Just before this big move, many traders...

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Technical Pressure at 7775 Delays Challenge of 8000: Sally Ho's Technical Analysis 29 April 2020 BTC

Bitcoin (BTC/USD) continued to trade below the 8000 figure early in today’s Asian session as the pair continued to react to significant technical levels including the 7775 area, a recent relative high from last week that capped advances during yesterday’s North American session.  After trading as high as the 7794.74 level during yesterday’s North American session, selling pressure knocked the pair lower to the 7672.00 area, just below the 76.4% retracement of the recent depreciation from 7775.00 to 7390.00.  BTC/USD bears are eyeing the 7650.17, 7600.50, and 7550.82 areas as price targets below the market.  Above current price activity, upside...

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Bitcoin Due For Pre-Halving Pump

Bitcoin is in a tricky situation. The market seems poised for some pre halving gains but at this point there is also the risk of BTC/USD seeing a sharp retracement down to the $7.3k region before it starts rallying again. It has taken far too long to consolidate and if it fails to break out soon, the bears would take control near term and we will see a move to the downside follow in the near future. For now, the outlook remains unchanged and we still expect Bitcoin to rally past $8k to fill that CME futures gap. The long-term...

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ETH/USD Looking for Market Sentiment Below 200: Sally Ho's Technical Analysis 28 April 2020 ETH

Ethereum (ETH/USD) shied away from the 200.00 figure in today’s North American session as the pair declined to the 195.49 level after trading as high as the 197.95 area earlier in the North American session, just below the 198.09 area that represents an upside price objective related to buying pressure that originated around the 90.00 area in March.  During a pullback during yesterday’s North American session, the pair traded as low as the 189.60 area, just above the 189.23 level that represents the 50% retracement of the recent appreciation from 178.46 to 200.00.  Additional downside targets related to this range...

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BTC/USD Bears Eyeing Bids at 7626.95: Sally Ho's Technical Analysis 28 April 2020 BTC

Bitcoin (BTC/USD) continued to drift lower early in today’s Asian session as the pair was unable to sustain a move to the 7810.99 level during yesterday’s Asian session and came off to the 7635.69 level during yesterday’s North American session.  Stops were elected below the 7650.17 level during the depreciation in yesterday’s North American session, a level that represents the 38.2% retracement of the appreciation from 7390.00 to 7810.99.  Some clues emerged during yesterday’s European and North American sessions regarding the short-term direction of BTC/USD when the pair encountered selling pressure around the 7735.24 level, representing the 23.6% retracement of...

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