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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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Key BTC/USD Hurdle at 10679.95: Sally Ho's Technical Analysis 24 September 2020 BTC

Bitcoin (BTC/USD) remained somewhat on the defensive early in today’s Asian session as the pair attempted to claw back recent losses following its recent low around the 10180.00 area.  Traders were able to get BTC/USD back as high as the 10576.82 area during yesterday’s Asian session, just above the 100-bar 4-hourly simple moving average.  Selling pressure then knocked BTC/USD back to the 10380.49 level, just above the 50% retracement of the recent appreciation from 10180 to 10576.82.   Notably, this technical support was also right around the 10354.65 area, representing the 23.6% retracement of the recent depreciating range from 12086 to 9819.83.  Chartists...

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Michael Saylor of MicroStrategy believes holding BTC is less risky than cash or even gold

Quick Take One minute read  The chief executive officer of MicroStrategy, Michael Saylor has recently spoken in an interview with Bloomberg on the 22nd of September.  In the interview, he discussed numerous topics that surrounded the crypto industry and specifically said that all $400 million worth of the bitcoin reserve holdings in his company, could be liquidated at any given moment. The chief executive officer of MicroStrategy, Michael Saylor has recently spoken in an interview with Bloomberg on the 22nd of September. In the interview, he discussed numerous topics that surrounded the crypto industry and specifically said that all $400...

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