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Bearish EUR/USD Outlook Spells Trouble For Bitcoin (BTC)

The Euro has seen a major decline against the US Dollar just recently. The weekly chart for EUR/USD shows that the pair has now declined below the 200-week moving average. This is a very bearish development, one that points to the strong probability of another bear trend in the near future. This is bad news for Bitcoin and the rest of the cryptocurrency market at a time when investors are already panicking. The reason it is worse for the cryptocurrency market is because the price of Bitcoin is influenced directly by the strength or weakness of the US Dollar. This...

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Sally Ho's Technical Analysis 19 March 2020 BTC ETH

Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair traded as high as the 5474.99 area after trading as low as the 5001.00 area during yesterday’s North American session.  One range that traders are carefully monitoring is the appreciation from last week’s recent relative low around the 3858.00 area to the 5995.00 level.  Buying pressure had earlier materialised at or just below the 4925.60 area, representing the 50% retracement of the appreciating range, and traders await indications the markets may move above or below this short-term range. Another short-term range that traders are monitoring is the depreciation from...

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Bitcoin Risks Another Decline

Bitcoin showed some signs of strength after the recent yearly low. However, it is once again primed for another decline now that we have seen the bulls lose momentum. The price now risks a decline not only below $4k but I think we could see it take out the previous low of $3.8k this time. This is not unreasonable to expect considering BTC/USD did something similar in October last year. Financial markets worldwide are still in panic and the fear is real because the Coronavirus outbreak has seriously crippled all walks of life from daily activities to businesses and global...

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Ethereum (ETH) Remains Bearish Below $120, Further Downside Likely 

Ethereum (ETH) risks a major decline as long as it remains below the $120 level which is a strong resistance zone now. The price could keep on trading sideways for a while and even exhibit some temporary bullishness but the most probable scenario is a decline down to a new yearly low. In some of my previous analyses, I have repeatedly discussed how ETH/USD could decline below $100 to reach targets of $80 and subsequently $60 or lower. While I do not expect Ethereum (ETH) to decline below $60 just yet, I would not be surprised if we see a...

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Sally Ho's Technical Analysis 18 March 2020 BTC ETH

Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair climbed higher to the 5443.99 area after trading as low as the 5071.00 area during yesterday’s North American session.  During yesterday’s European session, Stops were elected below the 5215.31 area, an upside price objective related to the recent buying pressure from the 3858.00 area.  Stops were elected above the 5477.02 area during yesterday’s North American session, an upside price objective related to recent upward buying pressure from the 4432.20 area.  One range that traders are carefully monitoring is the appreciation from last week’s recent relative low around the 3858.00...

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