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EUR/USD Near Term Outlook No Longer Supports Rally In Bitcoin (BTC)

The near-term outlook of the EUR/USD forex pair no longer supports a rally in BTC/USD. The 4H chart shows that the pair has already shown signs of extreme weakness and could print a similar fractal as it did after it last formed a double top and then declined below the 38.2% fib level. This time, it will first have to break below the 1.0772 support in order to decline further. We could see the pair see some short-term upside to stall a move much lower as the pair breaks out of the rising wedge. However, it cannot stall the inevitable...

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11 December 2019 - ETH/ BTC – Weekly

In this Weekly chart of Ethereum/ Bitcoin (ETH/ BTC), there is an appreciating range from 0.01614 to 0.02304. We can see the market then depreciated to the 0.01891 level (identified by the first blue up arrow), just above the 0.018766 area that represents the 61.8% retracement of the appreciating range. The market then appreciated to the 0.02182 area (identified by the red down arrow), just above the 0.021412 level that represents the 23.6% retracement of the appreciating range. The market then depreciated to the 0.01953 level (identified by the second blue up arrow), just below the 0.01959 level that represents...

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Sally Ho's Technical Analysis 11 December 2019 BTC ETH

Bitcoin Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair was lifted to the 7250.00 area after trading as low as the 7156.03 area during yesterday’s North American session.  The pair had spiked higher to the 7659.38 area during Monday’s North American session before coming off and trading as high as the 7398.00 area during yesterday’s Asian session.  In recent days, the pair has oscillated around some key technical trading levels including the 7552.89 and 7356.65 areas, representing the 23.6% and 38.2% retracements of the recent move from 6526.00 to 7870.10.  Another very important level is the 7568.81...

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How History Stock Crashes Could Impact Bitcoin

From 1995-2000, there was a massive adoption in the use of the internet which gave a lot of value to a lot of internet firms. The native currency to Japan is the yen and in the early 80s, the yen rose by nearly 50 percent. Ever since Bitcoin took a miraculous rise to the $20,000 mark, there has been a lot of criticism and controversy surrounding it. The extremely high rate of volatility in the market has made people likened the digital to some investible assets that surged in price and later crashed in previous years. Today, we’re going to...

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Bitcoin Bulls Remain Hopeful

The near-term outlook of Bitcoin remains as confusing as it did for the last 24 hours. Traders still have no idea which way the price is going to swing next. However, the direction in which the price has been manipulated gives us meaningful insights as to what might happen next. We have recently seen the market makers try to inject fear in the market with wild moves around key turning points. As aggressive as those moves seemed, they have been mostly inconsequential as their sole purpose has been shaking out retail bulls, encouraging retail bears and discouraging the bulls from...

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