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Potential Gold (XAU/USD) Rout Could Put More Pressure On Bitcoin (BTC) 

The price of Gold (XAU/USD) has been in an impressive uptrend since last year when fears of a financial slowdown first started to surface. We have now seen Gold (XAU/USD) rise aggressively within a rising wedge and it has just faced rejection at the 78.6% fib retracement level. This now means that we could be looking at a major potential decline in the price of Gold, one that could see it break below the rising wedge and fall towards the 61.8% fib level if not much lower. We have previously seen that rallies in Gold (XAU/USD) have not necessarily led...

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Coronavirus is Good News for a Few Bitcoin Holders, See Why.

Coronavirus, aka COVID-19, is no longer a negligible topic, now has effected 120,000 people and caused 4,000+ deaths in the outbreak. Some researchers have estimated that Covid-19 could grow to infect 60% of the world’s population, and this would be enough to cause millions of deaths. Coronavirus is causing panic. A circuit breaker halts S&P 500 trading for the first time since 1997. Coronavirus can be a more significant event that causes a higher impact than bitcoin halving. When the risk comes, where is the opportunity? Though the deadly coronavirus is harmful to the man, it can be good news...

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Sally Ho's Technical Analysis 11 March 2020 BTC ETH

Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair traded as high as the 8040.64 area after finding demand around the 7733.56 area during yesterday’s North American session.  The pair has recently traded as low as the 7630.00 area during Monday’s North American session.  Market sentiment has shifted acutely during the past several trading sessions as the market steadily moved lower from the 10030 area, encountered buying pressure around the 8428.80 area, recovered to the 9214.67 area, and then moved sharply to the 7630.00 area.  The abrupt changes in market direction have confused many traders and led to...

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Bitcoin Correction May Not Be Over Yet 

Bitcoin has found support on the 61.8% fib level around $7.7k. This is a level that we have been mentioning for the past three weeks and we expected BTC/USD to decline down to it. As it turned out, the price actually ended up declining slightly lower than that but it was successful in finding support above it. Now, the situation should normally have been bullish after this and we would be talking about a rally towards $9k from here, but that is not the case this time. Even though the price found support around $7.7k, it still looks extremely vulnerable...

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Bitcoin (BTC) Risks Further Decline Below $8k Even As Traders Become Very Fearful 

Bitcoin (BTC) declined below $8k as the oil market plunged hard. As the price approached the 61.8% fib level, it found a temporary support which we discussed in the previous analyses on BTC/USD. That being said, the bulls have failed to gather the momentum to push the price higher. It looks quite vulnerable and the fact that it has not tested the descending broadening wedge again means that it risks another decline in the near future below the 61.8% fib level. This would put the market under a lot of pressure once again. The sentiment is already negative and there...

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