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Ethereum (ETH) Risks Further Downside Even Under The Bullish Case 

With the recent spike in BTC/USD, traders are bullish once again but such moves are of little consequence as it all boils down to what happens in the S&P 500 (SPX) next. The trend line support on the RSI for ETH/USD shows that we might see a decline near-term. If we take a look at the chart, it seems likely as the trend line support would have to be tested at some point. The near-term outlook of ETH/USD remains unchanged as long as the price remains below the strong resistance at $227.83. If the price breaks past it, then we...

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Bitcoin Volatility Might Rise Before Super Tuesday 

Bitcoin has been trading sideways this whole time and that is because the cryptocurrency market cannot make the next big decision on its own. The recent moves in BTC/USD have been getting both the bulls and the bears excited but the price has practically gotten nowhere. The 12H chart shows that BTC/USD is still trading below the 200 EMA and waiting for the next big move. Meanwhile, ETH/USD remains above the 100 EMA on the 12H time frame. This shows how much the cryptocurrency market depends on the stock market to make decisive moves.  The next major move in the...

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Potential EUR/USD Bearish Reversal Spells Trouble For Bitcoin (BTC) 

The EUR/USD forex pair has faced a strong rejection at the 61.8% fib level. There is now the strong probability of a decline not only down to the 78.6% fib level but much lower down to the 1.272 fib level and potentially lower. The next move in Bitcoin (BTC) hinges on this as Bitcoin (BTC) is directly paired to the US Dollar on most exchanges. If this pair goes down that means the price of Bitcoin (BTC) also goes down in dollar terms. The 200 moving average on the 12H time frame for EUR/USD is going to be momentous and...

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Nouriel ‘Dr Doom’ Roubini on Bitcoin Investors: “They prefer to believe in miracles.”

New data on the cryptocurrency charts are indicating that conditions for BTC/USD are looking slightly more promising with the pair training at just over $8600. Compared the start of last week, bitcoin was still down by more than 11%, so this week is looking slightly more bullish. New data on the cryptocurrency charts are indicating that conditions for BTC are looking slightly more promising with it trading at just over $8600. Compared the start of last week, bitcoin was still down by more than 11%, so this week is looking slightly more bullish. The significant impact of the coronavirus on...

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Sally Ho's Technical Analysis 2 March 2020 BTC ETH

Bitcoin (BTC/USD) extended recent weakness early in today’s Asian session as the pair weakened to the 8473.20 level after trading as high as the 8752.34 area during yesterday’s European session.  The 8813.12 level was the pair’s recent relative high, reached during Saturday’s Asian session, and the market has been pressured since then.  Traders continue to speculate whether or not BTC/USD has reached a relative low following the significant selling pressure it has encountered since trading as high as the 10522.51 area on 13 February.  Chartists and technicians had been focusing on the 8476.26 area, an important technical level that represents...

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