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Why Bitcoin (BTC) Bulls Are Being Hopeful Again

Bitcoin bulls are optimistic again and for good reason as we have seen the price climb back above the 200 moving average on the 4H time frame. This is a very bullish development short term which means that BTC/USD could keep on rallying further now that it has broken out of a range.  The bears could once again be taken by surprise if the price moves against them and rallies towards 8000 in the most bullish scenario.  In classical technical analysis the more the price test a certain level the higher the probability that it is eventually going to break...

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Sally Ho's Technical Analysis 28 December 2019 BTC ETH

Bitcoin (BTC/USD) gained ground early in today’s Asian session as the pair climbed higher to the 7319.00 level after buying pressure emerged around the 7053.32 area during yesterday’s European session.  There has been some renewed market weakness below the 7208.06 area during recent trading sessions and this is significant because that level represents the 38.2% retracement of the move from 6430.00 to 7688.99.  Traders are therefore interested to see if BTC/USD can sustain the break above this level. The next downside retracement level in this range is the 7059.50 area, representing a 50% pullback, and below that area traders are...

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Should BTC Be Portrayed as the Villian or the Hero?

Is Bitcoin really the bad guy? Netflix’s huge audience is prone to hating BTC Why pop culture hates cryptocurrency A Christmas Prince was a Netflix Xmas special released a few years ago and was an unlikely hit. The film was based in the fictional country of Aldovia and followed the life of a journalist who travels the country.  Last year, the Netflix special got a sequel made called The Royal Wedding and has a strange plot in which economics and political corruption is a common thing in the made-up world. More interestingly though, one of the villains is something we...

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Bitcoin (BTC) Primed For A Big Crash In 2020

Bitcoin made an impressive move to be upside once again yesterday but we saw that it was short-lived and the price started to crash soon after. We are now seeing BTC/USD struggling to break past the 61.8% fib level at $7,162 but it seems to be having a really hard time doing that and if the price keeps on trading below this level then the probability of a fall below $7,000 or eventually lower than that would increase drastically. However, at this point a lot of traders are expecting the price to decline further because there is obvious weakness in...

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Bitcoin (BTC) Could See Another Liquidity Hunt Before The Big Crash

Bitcoin (BTC) has been trading sideways for a while but yesterday it made a big move to the upside that stopped out most retail traders looking to ride the price down. This move pushed the price past the $7.4k level but it was soon followed by a red candle that effectively erased that entire move. We have discussed this in our analyses before that such liquidity hunts may continue to occur in the future and why traders need not to get too excited about them until there is follow through. The recent dead cat bounce is a perfect example of...

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