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BTC/USD Tests Key March Level of 7289: Sally Ho's Technical Analysis 3 April 2020 BTC

Bitcoin (BTC/USD) gave back some strong intraday gains early in today’s Asian session as the pair came off to the 6730.00 level after trading as high as the 7292.11 area during yesterday’s North American session.  Stops were elected above some key technical levels during the sharp move higher.  These levels include the 6979.43 level, an upside price objective related to upside buying pressure that emerged around the 3858 level in March, followed by Stops that were triggered above the 7059, 7101, and 7234 areas.  Some of these upside price objectives were related to buying pressure that emerged around the 5001.00...

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Bitcoin Still Remains In A Strong Bear Trend

Bitcoin has eventually made that fake out that we talked about in our yesterday’s analysis. People are predictable, especially in this market. So, when BTC/USD climbed past $6.6k again, many traders entered aggressive short positions hoping that the market would decline again. That created a honey pot for the whales and market makers and the manipulation that we saw yesterday was about hitting that honey pot and liquidating a large number of those bearish positions. This is not the first time that we have seen this and it will certainly not be the last. It is important to realize that...

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Could coronavirus see bitcoin beat gold?

Max Keiser predicts that people are going to be swarming on bitcoin and buy it in bulk. Recently speaking on his own news program, Keiser said that the coronavirus pandemic will see many billionaires all across the globe run towards gold. Because of the coronavirus outbreak, Max Keiser predicts that people are going to be swarming on bitcoin and buy it in bulk. Recently speaking on his own news program at the end of March, Keiser said that the coronavirus pandemic will see many billionaires all across the globe run towards gold. However, when all the gold dries up, the...

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Was bitcoin always digital gold? Buterin doesn’t think so…

The co-founder of ETH, Vitalik Buterin was recently involved in an argument with a bitcoin developer on Twitter this week.  He suggested that the leading cryptocurrency was originally designed to be a peer-to-peer cash rather than digital gold. The co-founder of ETH, Vitalik Buterin was recently involved in an argument with a bitcoin developer on Twitter this week. He suggested that the leading cryptocurrency was originally designed to be a peer-to-peer cash rather than digital gold. In replying to an original tweet from the co-founder in regards to ETH having promising applications for the future, the conversation moved on to...

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Bitcoin May Have An April Fool’s Surprise

Bitcoin seems to be doing everything we talked about last month. So, it would appear that BTC/USD indeed has an April Fool’s surprise for us. The 4H chart shows that we are very close to seeing a major move in the near future. Make no mistake, this move may be to the upside before the market declines again. However, the probability of a decline is much higher and if this bear flag leads to a similar decline as before, we could see a devastating move to the downside here. Please note that this decline is going to make the last...

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