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BTC/USD Eyeing 11000 Again: Sally Ho's Technical Analysis 27 September 2020 BTC

Bitcoin (BTC/USD) gained some ground early in today’s Asian session as the pair continued to recover after trading as low as the 10654.58 area during yesterday’s European session.  Traders then drove the pair as high as the 10828 area before booking some profits and driving BTC/USD back below the 10700 level.  Traders are curious to see if the pair has the strength to again test the 11000 figure.  During some recent pullbacks, technical support emerged around the 10543.50 area, representing the 38.2% retracement of the recent appreciating range from 10135.22 to 10795.87.  Chartists are observing that the 50-hour simple moving average just...

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Can BTC/USD Hold 10543.50? Sally Ho's Technical Analysis 26 September 2020 BTC

Bitcoin (BTC/USD) attempted to add to recent gains early in today’s Asian session as the pair encountered some additional buying pressure above the 10500 level following its move higher to the 10795.87 area during yesterday’s Asian session.  During a couple of pullbacks during yesterday’s European and North American sessions, technical support emerged around the 10543.50 area, representing the 38.2% retracement of the recent appreciating range from 10135.22 to 10795.87.  Chartists are observing that the 50-hour simple moving average just bullishly crossed above the 100-hour simple moving average.  Stops were recently elected above the 10534.29 and 10657.56 areas during the appreciation, representing the...

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BTC/USD Absorbs Technical Resistance on Push from 10135: Sally Ho's Technical Analysis 25 September 2020 BTC

Bitcoin (BTC/USD) orbited the 10500 level early in today’s Asian session as the pair added to recent gains that saw buying pressure drive the price higher from the 10135.22 area during yesterday’s Asian session.  Upside momentum was strong during yesterday’s European session and intensified during yesterday’s North American session.  Stops were elected above the 10534.29 and 10657.56 areas during the appreciation, representing the 38.2% and 50% retracements of the recent depreciation from 11179.90 to 10135.22.  Additional upside retracement levels related to this depreciating range include 10780.83 and 10933.36.   Traders will closely monitor price activity around some technically significant levels including the 10562.09,...

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Bloomberg analyst Mike McGlone has given his thoughts on bitcoin believing it will come out ahead

Quick Take 1 minute read Mike McGlone, a senior analyst at Bloomberg recently put out a tweet giving his thoughts on both Gold and bitcoin.  In the tweet, he shared his thoughts on the two assets highlighting that even though both of these assets have seen a return back to a specific support zone, they will come out ahead in the end.  Mike McGlone, a senior analyst at Bloomberg recently put out a tweet giving his thoughts on both Gold and bitcoin. In the tweet, he shared his thoughts on the two assets highlighting that even though both of these...

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Decentralized finance and new projects: Look beyond the hype

In a recent tweet by Changpeng Zhao, the CEO of one of the world's largest cryptocurrency exchanges, Binance, stated: "Many of the DeFi projects will fail. Some may offer short term gains, but they come with super high risks too. Don't invest money you can't lose." He later goes on to clarify that this principle applies to every project, DeFi or not. Ordinarily, I casually went through my twitter feed and wasn't looking to engage any tweets. However, the phraseꟷ ”Don’t invest money you can't lose" struck me and drew my attention. For many cryptocurrency enthusiasts and investors, 2020 has...

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