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BTC/USD Ending March Down 24%: Sally Ho's Technical Analysis 1 April 2020 BTC

Bitcoin (BTC/USD) appreciated modestly early in today’s Asian session as the pair climbed to the 6483.47 level after bids emerged around the 6333.91 level during yesterday’s North American session, right around a downside price objective related to selling pressure that emerged around the 6880.00 area.  Traders are observing that selling pressure emerged around the 6520.34 level during yesterday’s North American session, right around another downside price objective related to the 6880.00 level.  Chartists also note that the low during yesterday’s North American session was right around the 38.2% retracement of the appreciation from 5853.00 to 6631.23. Above current price activity,...

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Bitcoin Braces For The Next Big Crash

Bitcoin is still trading within the bearish pennant. The reason we call it the bearish pennant is because this is not just a symmetrical triangle; the price was very clearly trading lower as it entered this pennant and therefore it is important to make that distinction so we can set our expectations accordingly. Bearish pennants have a history of breaking to the downside and we expect the same this time. However, it remains to be seen whether or not we will see a false breakout first. In any case, this is a time to be preparing for the next big...

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Has bitcoin already hit its bottom?

With the world currently going through an uncertain and extremely unpredictable time, many people in the industry want to know where bitcoin will go next. The bitcoin halving is set to occur in May and was perhaps the most anticipated event to happen in the cryptocurrency industry for a long time.  With the world currently going through an uncertain and extremely unpredictable time, many people in the cryptocurrency industry want to know where bitcoin will go next. The bitcoin halving is set to occur in May and was perhaps the most anticipated event to happen in the cryptocurrency industry for...

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BTC/USD Seeks to Build Above 6250: Sally Ho's Technical Analysis 31 March 2020 BTC

Bitcoin (BTC/USD) extended its recovery early in today’s Asian session as the pair continued to trade above the psychologically-important 6000 figure after bids emerged around the 5853 area during yesterday’s Asian session.  During yesterday’s European session, the pair traded as high as the 6428.81 level, right around a couple of price objectives including the upside objective of 6414.65 related to buying pressure from the 4432.30 level, and the downside price objective of 6436.01 related to selling pressure from the 6880 level.  Some buying pressure emerged around the 6292.92 level during yesterday’s North American level, right around the 23.6% retracement of...

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Bitcoin Bearish Outlook Remains Unchanged

Bitcoin has once again shot past $6k after it led traders into thinking that it was ready to nosedive below it. That false impression led to many traders opening aggressive shorts which created a honey pot for the market makers and the whales above $6k which they have now fully exploited. While it may seem bullish for the price to bounce back above the important psychological S/R level of $6k, it is important to note that it still remains in a bear trend. As long as it remains below the 200-moving average on the 4H time frame, there is no...

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