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BTC/USD Technical Trading at 7373 and 7223 Ahead of 7500: Sally Ho's Technical Analysis 9 April 2020 BTC

Bitcoin (BTC/USD) continue to orbit the 7250 level early in today’s Asian session as the pair was unable to sustain a move higher to the 7430 level during yesterday’s European session.  There was quite a bit of technical trading early in yesterday’s North American session when the pair traded as high as the 7372.82 area, right around the 76.4% retracement of Tuesday’s depreciation from the 7476.00 area to the 7073.00 area.  Significant selling pressure commenced from the 7365.02 level during Tuesday’s North American session, right around the 50% retracement of the depreciation from 7466.00 to 7271.00 and the 61.8% retracement...

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Ripple (XRP/BTC) Extends Recent Gains Against Bitcoin: Chart of the Day 9 April 2020

Chart of the Day – 9 April 2020XRP/ BTC – Daily In this Daily chart of Ripple / Bitcoin (XRP/ BTC), there is an appreciating range from 0.00002376 to 0.00002714. We can observe that the market then depreciated to the 0.00002570 level (identified by the blue up arrow), right around the 0.00002585 level that represents the 61.8% retracement of the appreciating range. We can observe that the market then appreciated to the 0.00002683 level (identified by the yellow down arrow), right around the 0.00002696 level that represents the 38.2% retracement of the appreciating range. Thereafter, we can observe the market...

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ETH/USD Holds 165.00 Level: Sally Ho's Technical Analysis 8 April 2020 ETH

Ethereum (ETH/USD) extended recent gains in today’s North American session as the pair continued to climb above the psychologically-important 150.00 level.  Buying pressure emerged around the 166.18 level during today’s European market, just below the 61.8% retracement of the appreciation from 161.47 to 174.77.  Selling pressure earlier emerged around the 171.63 area, representing the 23.6% retracement of this range.  Significant selling pressure emerged around the 173.99 area during Tuesday’s North American session, just above the 76.4% retracement of the depreciation from 175.76 to 167.24.  Selling pressure intensified around the 171.15 area, just above the 38.2% retracement of the depreciation from...

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Bitcoin Inches Closer To The Next Decline

Bitcoin is still trading above $7k but it does not have much room to rise significantly higher. The daily chart for BTC/USD shows that the price has run into resistance at the 50-day moving average. It might end up breaking past that near-term to test $7.7k which corresponds to a previously broken market structure. The market as a whole is at risk of a major decline up ahead. These next few days are going to be very critical. We might see the price trade sideways for a while and then the major decline would kick in same as last time,...

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Failure at 7400 Knocks BTC/USD Below 7200: Sally Ho's Technical Analysis 8 April 2020 BTC

Bitcoin (BTC/USD) gave back some recent gains early in today’s Asian session as the pair continued to back away from the 7400 figure after trading as high as the 7466.00 area during yesterday’s North American session.  During the pair’s recent ascent, a series of Stops have been elected above key upside price objectives including the 6854, 6979, 7101, and 7411 areas, all of which are upside price objectives related to buying pressure that emerged in March around the 3858 area.  Additional upside price objectives related to this level include the 7561, 7716, and 8103 areas.  Additional Stops have recently been...

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