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Could miner capitulation see bitcoin fall?

One crypto commentator has pointed out that BTC can still hit the floor even though it’s bullish momentum may say otherwise… The analyst in question, @mansasuma believes that this would be as a result of miner capitulation which is happening right now. Despite the recent surge in price for the leading crypto coin, one crypto commentator has pointed out that BTC can still hit the floor even though it’s bullish momentum may say otherwise… The analyst in question, @mansasuma believes that this would be as a result of miner capitulation which is happening right now. Capitulation Is what happens in...

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BTC/USD Tests Key 6846.74 Level: Sally Ho's Technical Analysis 11 April 2020 BTC

Bitcoin (BTC/USD) continued to consolidate early in today’s Asian session as the pair remained pressured below the psychologically-important 7000 figure after selling pressure knocked the pair lower from the 7323.55 level during yesterday’s Asian session.  A number of larger Stops were elected around key levels, including the 7073.50, 6980.87, and 6866.26 areas, representing the 50%, 61.8%, and 76.4% retracements of the appreciation from 6681.00 to 7466.00.  Larger Stops were executed below the 7081.51 area, representing the 23.6% retracement of the appreciation from 5853.00 to 7461.00.  Notably, buying pressure emerged during yesterday’s European session just above the 38.2% retracement of the...

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RCN Advances Against BTC: Chart of the Day RCN/BTC Weekly

Chart of the Day – 10 April 2020RCN/ BTC – Weekly In this Weekly chart of Ripio Credit Network / Bitcoin (RCN/ BTC), there is an appreciating range from 0.00000495 to 0.00000950. We can observe that the market then depreciated to the 0.00000571 level (identified by the blue up arrow), just below the 0.00000592 level that represents the 78.6% retracement of the appreciating range. We can observe that this pullback was just above the 50-bar Exponential Moving Average, an indicator that provided some technical support. We can observe that the market then appreciated to the 0.00000867 level (identified by the...

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BTC/USD Recovers Below 7130 from Early Blitz: Sally Ho's Technical Analysis 10 April 2020 BTC

Bitcoin (BTC/USD) slumped early in today’s Asian session as the pair depreciated to the 7265.00 level after trading as high as the 7365.00 area during yesterday’s North American session.  Notably, the pair was capped around an important technical level during yesterday’s European and North American sessions, namely the 76.4% retracement of the depreciation from 7464.85 to 7046.60.  BTC/USD moved lower early in yesterday’s North American session and traded as low as the 7110.00 level, just below the 7145.31 area that represents the 23.6% retracement of the depreciating range.  Significant selling pressure commenced from the 7365.02 level during Tuesday’s North American...

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Calm Before The Storm For Bitcoin (BTC)

Bitcoin is trading sideways as we expected it to. This may go on for a while as it did the last time before the decline kicked in. This time, it is expected to be a lot more devastating as the bearish pennant that we see on the daily chart for BTC/USD is a lot bigger compared to the previous one. The recent bullishness in the stock market was a misleading move, same as the one we saw just before the previous downtrend started. This week might end up being inconsequential with the S&P 500 (SPX) doing nothing out of the...

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