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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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Bitcoin Traders Scared Of Halving?!

It seems that a large number of retail traders are actually scared of being long on the market fearing that halving could turn out to be a major bull trap. It is interesting how narrative building works in this market. Traders just crave for a popular opinion in this market whether bullish or bearish and then they follow it absolutely. So, if it is a bullish theory, they think BTC/USD will fly to the moon. If it is a bearish theory, they think it is going to crash into the ground. This is the kind of approach that leads to...

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Staying above $20,000: Silk Road founder suggests BTC isn’t finished yet

The founder of the infamous Silk Road and a current inmate in prison, Ross Ulbricht recently predicted long-term bullish possibilities for bitcoin.  He says that he can see the price staying well above the $20,000 mark. The founder of the infamous Silk Road and a current inmate in a federal prison, Ross Ulbricht has recently predicted long-term bullish possibilities for cryptocurrency and specifically bitcoin. He says that he can see the price staying well above the $20,000 mark.  Last week on the 24th of April, Ross posted it to his personal medium account from the United States penitentiary Tucson where...

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BTC/USD at 8000 This Week? Sally Ho's Technical Analysis 27 April 2020 BTC

Bitcoin (BTC/USD) continued to test recent gains early in today’s Asian session as the pair sought to establish new recent highs above the 7600 level after trading as high as the 7715.00 level during yesterday’s North American session.  Traders had Saturday’s daily high of 7720.00 in view that was reached after Stops were elected above the 7627.93 and 7684.14 levels, representing the 61.8% and 76.4% retracements of the recent depreciation from 7775.00 to 7390.00.  Traders are looking to see if the pair can establish technical support around the 7684.14 level, and are again eyeing the 8000 figure as a psychologically-important...

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BTC/USD Backs Away from Testing 7775: Sally Ho's Technical Analysis 26 April 2020 BTC

Bitcoin (BTC/USD) continued to orbit the 7500 level early in today’s Asian session as the pair traded as high as the 7569.01 level after bids emerged around the 7489.44 area during yesterday’s North American session.  The pair spiked to the 7720.00 level during yesterday’s North American session after Stops were elected above the 7627.93 and 7684.14 levels, representing the 61.8% and 76.4% retracements of the recent depreciation from 7775.00 to 7390.00.  If short-term weakness develops, traders will carefully monitor price behaviour around related areas of potential technical support, including the 7315.29 and 7206.69 levels.   Significant Stops were elected above the...

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