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BTC/USD Tests 7751 Technical Target: Sally Ho's Technical Analysis 24 April 2020 BTC

Bitcoin (BTC/USD) pared some strong gains early in today’s Asian session as the pair traded as high as the 7621.82 level after trading as high as the 7775.00 area during yesterday’s North American session, its strongest print since the pair’s acute depreciation in the first half of March.  Significant Stops were elected above the 7497.49 level during the move higher, a downside price objective related to selling pressure that intensified around the 7986.48 level in the first half of March.  Additional Stops were triggered above the 7584 and 7661 levels during the pair’s ascent, with more being elected above the...

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Biggest Bitcoin Bull Trap In The Making

The price of Bitcoin has seen some minor retracements here and there but it seems ready to shoot towards $8k and potentially higher than that towards $8.4k-$9k to fill the CME Futures gap in the wake of Bitcoin halving. We would once again see a large number of retail bulls get overly excited and this time, they might be walking into the biggest bull trap in Bitcoin history. While we know that BTC/USD is printing a major bear flag which is very likely to lead to a major decline in the weeks and months ahead, we also know that this...

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Is BTC limiting itself in the monetary sense despite being the king?

With traditional and institutional investors looking up to the leading cryptocurrency, the future of the industry (and the world) is up in the air.  With greater regulatory clarity and new investment products on the horizon, the industry is looking good despite all the uncertainty in the world right now. With traditional and institutional investors looking up to the leading cryptocurrency, the future of the industry (and the world) is up in the air. With greater regulatory clarity and new investment products on the horizon, the industry is looking good despite all the uncertainty in the world right now. However, despite...

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Performing well: Bloomberg report indicates BTC is weathering the economic storm of COVID-19

Bloomberg has positively commented on the performance of bitcoin and has praised its several economic benefits in comparison to its counterpart, gold.  The report emphasised that the token has not been in the same position as crisis swarms over the traditional market space. This week, Bloomberg has positively commented on the performance of bitcoin and has praised its several economic benefits in comparison to its counterpart, gold. The report emphasised that the token has not been in the same position as crisis swarms over the traditional market space.  The report further said that BTC has been somewhat losing the high...

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How come BTC didn’t surge at the start of the pandemic?

Alex Mashinsky is a believer that bitcoin isn’t correlated enough as an asset for investors to turn to it during crisis.  In an interview, he said that the leading coin didn’t see a significant rise at the start of the pandemic. Celsius network CEO, Alex Mashinsky is a believer that bitcoin isn’t correlated enough as an asset for investors to turn to it during the current financial crisis.  In an interview Alex took part in early this week on the 22nd of April, he said that the leading crypto coin didn’t see a significant rise at the start of the...

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