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BTC/USD Drawn to 7080's Technicals: Sally Ho's Technical Analysis 18 April 2020 BTC

Bitcoin (BTC/USD) remained confined to a tight range early in today’s Asian session as the pair faded lower to the 7041.16 level after trading as high as the 7134.00 area during yesterday’s European session.  The pair traded as high as the 7212.27 level during yesterday’s Asian session, stopping just short of testing the 7234.54 level that represents an upside price objective related to buying pressure that originated around the 5001.00 area in mid-March.  Earlier this week, upward momentum emerged around the 6456.00 area, driving the price back above the psychologically-important 7000 figure.  Notably, this buying pressure was right around the...

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Bitcoin Might Trap More Bulls

Bitcoin has seen a significant move to the upside recently and now on the last trading day of the week for Bitcoin CME Futures and the S&P 500 (SPX), it continues to remain bullish near term. Unlike previous weekends when the price action has been inconsequential, this weekend could see BTC/USD make some moves. It would not be much of a problem if a gap is left to the downside because it could be filled on the way down anyway when the major downtrend begins. Meanwhile, the stock market is ready to rally higher to test key levels. For the...

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How Grayscale’s latest report proves bullish for bitcoin

When it comes to institutional investment and the crypto space, Grayscale is often viewed as the trendsetter for the industry.  The company’s quarterly reports are used to examine whether the institutional finances are coming into the crypto world or if they are leaving it. When it comes to institutional investment and the crypto space, the company Grayscale is often viewed as the trendsetter for the industry.  The company’s quarterly reports are typically used to examine whether the institutional finances are coming into the crypto world or if they are leaving it. Recently, the company published its first quarter results for...

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Peter Schiff sparks bitcoin debate once more & asks community a critical question

Due to the uncertainty going on around the world and in the crypto space right now, many haters of crypto have been slating the asset class with criticism.  This isn't unusual as it is well known that bitcoin has fans on one side and a negative audience on the other… With coronavirus, there are many factors at play that have intensified such criticisms and led many people in the finance space to reignite the debate of whether crypto has real intrinsic value.  There are many haters of the leading cryptocurrency in the world. Due to the uncertainty and volatility currently...

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BTC/USD Again Eyes 7466: Sally Ho's Technical Analysis 17 April 2020 BTC

Bitcoin (BTC/USD) awaiting new market sentiment early in today’s Asian session as the pair continued to orbit the psychologically-important 7000 figure after peaking around the 7153.00 area during yesterday’s European session.  This followed a sharp move higher that commenced during yesterday’s Asian session with acute selling driving BTC/USD lower from the 6768.84 area to the 6456.00 area, its weakest level since 2 April when the pair climbed higher from the 6160.00 area.  Notably, this buying pressure was right around the 6467.26 level that represents the 61.8% retracement of the appreciation from 5853.00 to 7461.00.  Above current price activity, upside price...

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