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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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Sally Ho's Technical Analysis 9 January 2020 BTC ETH

Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair climbed higher to the 8037.47 area after trading as low as the 7845.00 level during yesterday’s North American session.  The market traded as high as the 8469.39 area during yesterday’s Asian session after Stops were elected above the 8449 area, an upside price objective.  A strong bid has returned to the market over the past week and this has seen the pair easily absorb some areas of technical resistance and upside price objectives.  Notably, the 8059.54 area was a downside price objective related to the late-October high of 10540.49. ...

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Why Bitcoin (BTC) Traders Should Be Skeptical 

Bitcoin has now shot past the $8k level and is hovering around $8,268 at the time of this analysis. We can see on the 4H chart for BTC/USD that it ended up pumping past the $8.4k mark before it started to decline. Many retail traders have become far too excited about this. There is too much optimism in the market before the next halving but it is very important to realize that BTC/USD has yet to break past a cluster of resistance levels below $9k. Until and unless that happens, it could be very risky to be long on the...

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Bitcoin Finally Breaks $8k Range, is a Breakout on the Way?

Bitcoin is no longer in the $7k range! The leading cryptocurrency is now priced at $8,360 following a 5.87 per cent positive change over the past 24 hours. This new price movement comes after a month of lateral trading with some people making claims that a breakout is on the horizon. We finally can say that Bitcoin is no longer in the $7k range! Yes, you read that right! The leading cryptocurrency is now priced at $8,360 following a 5.87 per cent positive change over the past 24 hours. This new price movement comes after a month of lateral trading...

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