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Sally Ho's Technical Analysis 25 January 2020 BTC ETH

Bitcoin (BTC/USD) rallied early in today’s Asian session as the pair escalated higher to the 8500.00 figure after trading as low as the 8216.71 area during yesterday’s European session.  Yesterday’s intraday low was right around the 8219.84 area that represents the 38.2% retracement of the move from 10950.57 to 6531.91.  After testing the 8590.11 area on Thursday, the pair steadily declined to the 8278.00 area after Stops were elected below the 8338.78 area, representing the 76.4% retracement of the move from 9948.12 to 3128.89.  Chartists have observed that the 200-bar MA (hourly) has recently bearishly moved above the 50-bar MA...

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Bitcoin And Chinese New Year Of The Rat 

Bitcoin is finally doing what we have been anticipating for the past few days. While the price was trading around $8,700, we talked about the probability of a decline down to the $8,000 level. So far, BTC/USD seems to have found temporary support at the $8,300 level but it can fall lower down to the 61.8% fib level. It is not likely to decline significantly below $8,000 because that would defeat the purpose of the bull trap that the big players are trying to create. There is a lot of effort that has gone into this trap and they would...

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Bitcoin (BTC) Manipulation Expected To Rise In Chinese New Year Of The Rat 

Bitcoin (BTC) saw one of its most unprecedented cases of manipulation in October of last year when the price pumped 43% in less than 48 hours. The move was aimed at triggering a massive short squeeze which inflicted serious pain on the bears. Now, the stakes were high that time but they were not as high as they are now as Bitcoin heads into the Chinese New Year of the Rat. The big players in this market that literally run the show have one simple objective which is to milk the market till its proverbial udders fall off. This is...

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Greyscale Could Get the First Foot in the Door With a Bitcoin ETF

Bitcoin exchange-traded funds (ETF) can be a long drawn out process and has seen the hopes of many of crypto commentators crushed over the past two years. Multiple of these traded funds have already been shut down and rejected but even though they have attempted to be re-applied. Bitcoin exchange-traded funds (ETF) can be a long drawn out process and has seen the hopes of many of crypto commentators crushed over the past two years. Multiple of these traded funds have already been shut down and rejected but even though they have attempted to be re-applied, the securities and exchange...

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Billionaire Ray Dalio Says Bitcoin Cannot Serve As Money

Ray Dalio is the founder of Bridgewater Associates, which is among the biggest hedge funds on the globe. He is one of the richest men in the world and not all that enamored of cryptocurrencies like Bitcoin because he believes it lacks inherent qualities that will enable it to serve as money. He made his beliefs known during an interview with CNBC at the ongoing World Economic Forum in Davos, Switzerland. He said: “There’s two purposes of money, a medium of exchange and a store hold of wealth and Bitcoin is not effective in either of those cases now.”  ...

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