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10 January 2020 - EOS/ BTC – Hourly

In this Hourly chart of EOS/ Bitcoin (EOS/ BTC), there is a depreciating range from 0.000375 to 0.000353. We can observe that the market then appreciated to the 0.000361 level (identified by the red down arrow), just below the 0.00036140 level that represents the 38.2% retracement of the depreciating range. We can observe that the 0.000361 level was just above the 0.000359 level, the area where the 21-bar Simple Moving Average was indicating at the time. The market then depreciated to the 0.000341 level. Using RSI, we can observe that the slope of RSI (14) turned negative after the market...

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Sally Ho's Technical Analysis 10 January 2020 BTC ETH

Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair climbed higher to the 7813.77 area after trading as low as the 7744.48 level during yesterday’s North American session.  Other than retracing higher to the 7995.72 area earlier in yesterday’s North American session, the pair has been Given after peaking around the 8469 level a couple of days ago.  Market sentiment has shifted over the past several days following the pair’s rapid climb above the psychologically-important 8000 figure after decisively moving above the 7000 figure.  During the pair’s ascent, Stops were elected above the 8449 area, an upside price...

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Has Bitcoin Finally Begun Its Decline? 

Bitcoin has now come crashing down after the fake pump. Back when we saw this pump in BTC/USD, we discussed how this was a trap and the price will end up declining further after that. It has finally happened and we can now expect a downtrend in BTC/USD in the weeks and months ahead. However, before that happens, I wouldn’t discount one last move to the $8,200 level. The reason we expect another downtrend has more to do with larger financial markets than the chart of Bitcoin or other cryptocurrencies. Recently, WTI Crude Oil saw a wild volatility move that...

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USD/CNY Forex Pair Indicates China May Be About To Get Out Of Bitcoin (BTC) 

The USD/CNY forex pair has had an interesting correlation with Bitcoin (BTC). Back in June, 2019 when the pair had printed a bull flag, the price of Bitcoin started to rally before the bull flag in USD/CNY had come to fruition. We saw the pair eventually invalidate that bull flag and decline further before moving up. We can observe on the daily chart how the price of Bitcoin then switched from a lead to lag correlation and waited for the big move in USD/CNY before it started to rally. It is no secret that China has played an important role...

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Why Iran’s Current Situation Could Be Having an Impact on Bitcoin

The situation that’s been occurring in Iran the past week has got some crypto enthusiasts concerned about the future of the industry. Going off from an article we did at the start of the week, the argument has been made by some that the assassination of Qassem Soleimani has had an impact on Bitcoin. The situation that’s been occurring in Iran the past week has got some crypto enthusiasts concerned about the future of the industry. Going off from an article we did at the start of the week titled ‘The Geopolitical Impact On Bitcoin From The US-Iran Situation’, discussing...

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