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BTC/USD Bulls Eyeing 7308 Again: Sally Ho's Technical Analysis 23 April 2020 BTC

Bitcoin (BTC/USD) extended recent gains early in today’s Asian session as the pair continued to appreciate above the psychologically-important 7000 figure following its move to the 7141.05 area during yesterday’s North American session.  Stops were elected above the 7028.36 and 7094.36 levels during the move higher, levels that represents the 50% and 61.8% retracements of the recent depreciation from 7308.00 to 6748.72.  Traders are curious to see how price activity will react around the 7176.01 area, a level that represents the 76.4% retracement of the depreciating range.  Last week, upward momentum emerged around the 6456.00 area, driving the price back...

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ETH/USD Eyeing 184.01 Again: Sally Ho's Technical Analysis 22 April 2020 ETH

Ethereum (ETH/USD) sought to maintain gains early in today’s North American as the pair extended its recovery above the 170.00 level after trading as high as the 182.77 level during yesterday’s North American session.  Stops were elected above the 180.28 level during the move higher, a level that represents the 76.4% retracement of the depreciation from 191.22 to 166.40.  Additional Stops were triggered above the 181.04 area during the ascent, a technical level that represents the 23.6% retracement of the appreciation from 148.08 to 191.22.  Traders are interested to observe how ETH/USD will react around the 184.01 area, an upside...

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Can Bitcoin Fall Down To Zero?!

The stock market seems to be playing out exactly as we predicted. The S&P 500 (SPX) seems all set to test the 61.8% fib retracement level once again. This would lead to similar near-term bullishness in the cryptocurrency market. We expect BTC/USD to climb past $8k to test $8.4k-$9k before the next major decline. This would end up filling the CME futures gap and then Bitcoin could enter a prolonged bear trend. This might also be one of the most brutal bull traps in Bitcoin history just around halving which gives the market makers and whales the perfect opportunity to...

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Headwinds at 7106 for BTC/USD: Sally Ho's Technical Analysis 22 April 2020 BTC

Bitcoin (BTC/USD) gained back some ground early in today’s Asian session as the pair moved higher to the 6959.00 level after trading as low as the 6748.72 area during yesterday’s Asian session.  Notably, BTC/USD was unable to gain much ground above the 6950.47 area during yesterday’s North American session, a level that represents a downside price objective related to selling pressure that emerged in March around the 7986.48 area.  BTC/USD bulls were also encouraged by the fact the market was able to remain supported not too far below the 6781.46 area, representing the 61.8% retracement of the recent appreciation from...

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Technical Trouble for ETH/USD at 174.93: Sally Ho's Technical Analysis 21 April 2020 ETH

Ethereum (ETH/USD) gained steady ground in today’s North American session as the pair rallied to the 173.89 level after trading as low as the 168.44 area during today’s European session.  The market appreciated to the 174.93 level during today’s European session and came off, just above a technical level that represents the 38.2% retracement of the appreciation from 148.08 to 191.22.  Traders are eyeing the 164.56 level as an area of possible technical support during pullbacks lower.  Stops were reached during the weekend above the 177.39 area, a downside price objective related to selling pressure that emerged around the 252.99...

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