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Bitcoin (BTC) Could Still Rally Towards $10k After A Near-Term Retest of $8k

Bitcoin (BTC) is still hovering close to the 200-day moving average and is now on the verge of its next big move. This move whether to the upside or to the downside will be short-lived. The perfect play from the market makers’ standpoint would be for BTC/USD to fall down to the $8k level which would make the bears feel vindicated. This would then give the market makers and the whales incentive to pump the price to much higher levels to liquidate most of those overly aggressive bears. The next move from the 61.8% fib level would most likely be...

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Sally Ho's Technical Analysis 22 January 2020 BTC ETH

Bitcoin (BTC/USD) weakened early in today’s Asian session as the pair fell to the 8693.39 area following a late rally to the 8774.31 area during yesterday’s North American session that began earlier in the session around the 8465.00 area.  Following the pair’s sharp decline over the weekend from the 9194.99 area to the 8465.00 level, BTC/USD has largely traded sideways, generally supported above the 8500.00 figure.  During the weekend pullback, the pair remained bid above the 8433.00 area, representing the 50% retracement of the recent 7671.00 – 9194.99 range.  Notably, selling pressure emerged around the 8741.24 area during the pair’s...

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Where Is Bitcoin (BTC) Really Headed?

Bitcoin continues to struggle to hold its ground above the 61.8% fib level at $8.6k but it seems to be struggling too hard. Whenever the price struggles too hard to do something, it usually fails because there is place for hoping and wishing in the market. What is meant to happen does happen most of the time in financial markets. We can see now that BTC/USD is primed for a sharp decline sooner rather than later. The bearish pennant seen on the 1H chart is likely to lead to a crash by the end of the week. Cryptocurrencies pairs like...

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Charles Hoskinson Takes Digs Into Crypto, Including Bitcoin and Ethereum

In a recent interview, Charles Hoskinson spoke on IOHK, blockchain security and Ethereum. Bitcoin is ‘blind, deaf and dumb’ according to the CEO/founder. Hoskinson commented on Ethereum, in that is not very in line with the financial world. In a recent interview with Hacker Noon, Cardano’s Charles Hoskinson spoke on many topics, including the leading cryptocurrency, IOHK, blockchain security and Ethereum. “The point of all these cryptocurrencies and blockchains is ultimately the management of assets, information, trust, and data.” Bitcoin is ‘blind, deaf and dumb’ according to the CEO/founder of the two aforementioned projects. “It doesn’t understand the world around...

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Why The Next Oil Supply Boom Might Drive Bitcoin (BTC) Into The Ground

The infamous oil crash of 2014-15 is known to many of us who have been following traditional markets around the time. However, the majority of Bitcoin (BTC) investors who see the cryptocurrency market as a standalone market with no correlation to other markets with the possible exception of gold find it hard to see that there actually was a correlation between Oil and Bitcoin (BTC) back then. When WTI Crude Oil (US Oil) started to decline in June, 2014 we saw BTC/USD begin an aggressive downtrend that lasted till early 2015. We have seen multiple downtrends in between and a...

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