Hot Topics

Advertisement

Advertisement

Sally Ho's Technical Analysis 3 December 2019 BTC ETH

Bitcoin Bitcoin (BTC/USD) moved higher early in today’s Asian session as traders lifted the pair to the 7412.85 area after trading as low as the 7157.33 area during yesterday’s European session.  The market has recently given back some of the gains it scored last week when the pair escalated from the 6526.00 area to the 7870.10 level.  A couple of good relative measures of the pair’s ongoing weakness include the 7568.81 and 7473.42 areas, both of which represent 23.6% depreciations from recent relative highs including the 10944.67 and 10540.49 levels.  During Friday’s North American session, BTC/USD came close to testing...

Read More

Bitcoin (BTC) Expected To Rally Further

Bitcoin (BTC) has undone its move that it made on the weekend and the price is back where it was. We called this move in our Sunday’s analysis as the most probable scenario and it has now played out successfully. The question now is, “where is Bitcoin going next from here?” So far, the price is holding strongly above the $7,243 support. However, it remains vulnerable as it could decline within the falling wedge soon as this support is breached and the price starts moving down. As long as the price remains above this support, the bulls do not have...

Read More

Without Network Improvements, Bitcoin Would Have Failed Long Ago...

BitMEX explains how the team of the platform have just finished up a test of the main Bitcoin. BitMEX indicates that the edits made to the network seem to be the key reason it has been able to keep going. An official blog post published at the end of last week by BitMEX explains how the team of the platform have just finished up a test of the main Bitcoin by conducting 35 initial block downloads (IBDs) and also highlighted that the length of time the network takes for node synchronisation. In its conclusion, the BitMEX research indicates that the...

Read More

EUR/USD Forex Pair Outlines What Lies Ahead For Bitcoin (BTC)

The Euro recent made a double bottom against the US Dollar which has now increased the probability of a move to the upside. However, as we can see on the 4H chart for EUR/USD, the pair is also trading within a descending triangle which could be broken to the downside. Descending triangles have a history of leading to further downside and if it happens in this case, we might see a decline below the 61.8% fib extension level which would be a very bearish development for BTC/USD. However, until that happens, there is the strong probability of a move towards...

Read More

Could A $2k BTC Occur In 2020? This Analyst Gives His Reasoning

The analyst said that as the fall in the crypto market is continuing, crypto miners will be on the move to take profits. The bitcoin price has been showing signs of a ‘rejection’ at the higher key resistance levels. Some investors expect the dip to $6,600 last week to have been a bottom for the year but one analyst believes the bitcoin price could fall to as low as $2,020 in 2020. Drop to Lows The analyst said that as the fall in the crypto market is continuing, crypto miners will be on the move to take profits. Potential sell-offs...

Read More