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What Happens To Bitcoin (BTC) If EUR/USD Declines Long Term?

Bitcoin (BTC) has once again climbed back above not just $7,000 but the key resistance at $7,131 which now seems to have become a temporary support. We have yet to see how the price reacts at this level but any move to the upside from here is very likely to be short-lived. The major trend remains bearish and that is where our focus should be. Many traders now seem convinced that BTC/USD has to decline at least down to $5,500 or the 200 Week MA before any further upside. To this extent there does not seem to be any divide...

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Bitcoins Gains Come Just In Time For Christmas!

Bitcoin has had a volatile past week, that’s for sure. A harsh sell-off seems to in the making from the bears that has sent it as low as $6.4k over the past few days. But a new rally has seen a breath of fresh air put into Bitcoin and just in time for Christmas no less! Bitcoin has had a volatile past week, that’s for sure. A harsh sell-off seems to in the making from the bears that has sent it as low as $6.4k over the past few days. Well, this was before buyers got involved and triggered a...

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20 December 2019 - XTZ/ BTC – 4-hourly

In this 4-hourly chart of Tezos/ Bitcoin (XTZ/ BTC), there is an appreciating range from 0.000193 to 0.000258. We can see the market then retraced lower, then moved higher to the 0.000257 area, and then depreciated to the 0.000204 level (identified by the blue up arrow).   The 0.000204 area was just below the 0.00020834 level, representing the 76.4% retracement of the appreciating range. The market then appreciated to the 0.000222 level, above the 0.00021783 area that represents the 61.8% retracement of the appreciating range. The market has continued to appreciate. Using RSI, we can observe that RSI (14) bullishly crossed...

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Sally Ho's Technical Analysis 20 December 2019

Bitcoin Bitcoin (BTC/USD) depreciated early in today’s Asian session as the pair fell to the 7080.00 level following its inability to move above the 7227.48 area during yesterday’s European session.  Following the pair’s mid-week move back above the 7000 figure, traders have tested Bids around the 50-bar MA (4-hourly) and the 200-bar MA (hourly). These indicators will be critical tests as traders evaluate whether BTC/USD Bulls have the resolve to keep the pair Bid above these areas. Chartists also observed that after BTC/USD peaked around the 7445.00 level earlier this week and retraced lower, it has been capped around the...

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Bitcoin (BTC) Surprises Everyone Again

Bitcoin surprised everyone once again as the price shot up past key resistance levels and touched $7,452 before declining sharply from there. In doing that, BTC/USD finally tested the 200 moving average. We have long been talking about a retest of the 200 moving average on the 4H time frame before the next decline. Now that the price has faced a strong rejection at that level, it is likely to decline further. Please note that it may still see further upside after declining to lower levels within the falling wedge. We could see an even more bullish move follow after...

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