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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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Looking At The Big Picture For Bitcoin

The price of oil flipped negative for the first time in history. This is a testament to the fact that these are extraordinary times. The reaction that we are currently seeing on the stock market and in the cryptocurrency, market is primarily fueled by preemptive measure to stop the spread of the Coronavirus. This is not about the damage done by the crisis itself just yet. So far, this is mainly about the damage from businesses being affected by lockdowns and such. Pretty soon, we would have this transcend into a major financial crisis that would be unprecedented this time....

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Traders Grab Stops Below 6950: Sally Ho's Technical Analysis 21 April 2020 BTC

Bitcoin (BTC/USD) sought direction early in today’s Asian session as the pair continued to orbit the 7100 level after trading as low as the 6920 level during yesterday’s North American session.  Stops were elected below the 7106.93 and 6982.54 levels during the pair’s move lower, areas that represent the 23.6% and 38.2% retracements of the recent appreciation from 6456 to 7308.  The next downside level in this range is the 6882.00 level.  Some additional Stops were elected below the 6950.47 area, a level that represents an upside price objective related to buying pressure that emerged around the 3858.00 area in...

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