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Bitcoin (BTC) May Be Close To The Beginning Of A Major Downtrend 

Bitcoin (BTC) seems to be on the verge of a major downtrend. The daily chart for BTC/USD shows that the price has run into resistance at the key 61.8% fib retracement level and now risks a decline below the rising wedge. Bullish euphoria can be seen in the market as investors look for a rally to the moon before the upcoming halving. Meanwhile, the Coronavirus situation in China seems to be worsening as the outbreak is spreading to other parts of the world. There is a total of 64,456 cases now worldwide which have so far claimed 1,384 lives. This...

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Sally Ho's Technical Analysis 14 February 2020 BTC ETH

Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair traded as high as the 10262.35 area after trading as low as the 10083.10 area during yesterday’s European session.  Notably, the pair moved higher to test the 10522.51 area during yesterday’s North American session, a fresh multi-month high.  After peaking around the psychologically-important 10500 level early in yesterday’s European session, traders quickly booked profits and drove the pair lower to the 10083.10 level, testing the 100-bar MA (4-hourly) and just above the 10064.04 area that represents the 38.2% retracement of the depreciation from 13868.44 to 7712.45.  Traders are curious...

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Is This The Most Brutal Bitcoin Bull Trap Ever? 

Bitcoin is down, Ethereum is down but Ripple is up which is why we want to talk about XRP/USD first. The price action shows that the cryptocurrency made a big move to the upside when it broke past the fib ring seen on the daily chart. Even though most of that move has now seen a major retracement, XRP is still up against Bitcoin and Ethereum both. While BTC/USD remains sideways, most altcoins have been making moves of their own and that is exactly what the big players in this market want. They want everyone to believe that we are...

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Bitcoin (BTC) Is Running Out Of Time To Sustain Bullish Momentum 

Bitcoin (BTC) is running out of time to sustain its bullish momentum. It has declined close to 2% for the day but it is likely to trade sideways for a while. The game plan seems to be the whales and market makers encouraging retail traders to go for altcoins, not Bitcoin (BTC). They want them to bag their favorite altcoins just before the beginning of a major downtrend. The daily chart for BTC/USD shows that Bitcoin (BTC) is running out of room and will soon have to begin the next downtrend. The fib time zone shows the price breaking past...

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Fed Reserve Chairman Confesses the Power BTC Has on USD

Jerome Powell, the chairman of the Federal Reserve, recently spoke on the leading of cryptocurrency. After the congressmen Bill Foster raised his worries in keeping up with the digital currency dreams of China, the cryptocurrency markets took a surge skywards. Jerome Powell, the chairman of the Federal Reserve, recently spoke on the leading of cryptocurrency in a recent testimony as he said BTC/USD jumped 4% to $10,200. After the congressmen, Bill Foster raised his worries in keeping up with the digital currency dreams of China, the cryptocurrency markets took a surge skywards. China has been well open about its ambitions...

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