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Bitcoin Finally Crashes Beneath $7k Price Range

Bitcoin’s price at the time of writing is $6,770 following a seven percent fall over the past 24 hours. This week, the flagship cryptocurrency crashed through its support of $7.4k. This in turn triggered a technical reversal on the daily chart.  Well... it finally happened, the leading cryptocurrency took a tumble down the hill. Well, it was more like a fall off a mountain as Bitcoin’s price at the time of writing is $6,770 following a seven percent fall over the past 24 hours. The momentum that the bitcoin price had made when it was able to make a 2019...

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China Is Attempting to Swiftly Terminate Crypto Exchanges 

The Peoples Bank of China is vowing the swift termination of platforms relating to cryptocurrency. Blockchain tech has been seen as the saving grace within the nation, but there was a lighter touch being integrated with regards to bitcoin mining. The Peoples Bank of China (PBOC) has re-affirmed its position on crypto trading and thus vowing the swift termination of platforms relating to cryptocurrency. Ever since Chinese President Xi Jinping announced his love for blockchain, it has seemingly all changed into something less strict.  Blockchain tech has been seen as the saving grace within the nation, but there was a...

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25 November 2019 - ETC/BTC – Daily

In this Daily chart of Ethereum Classic/ Bitcoin (ETC/BTC), there is an appreciating range from 0.000519 to 0.000555. We can see the 14-day Simple Moving Average (indicated by the first red down arrow) was not far below the range’s high of 0.000555. We can see the price then depreciated to the 0.000533 area (indicated by the first blue up arrow), right around the 61.8% retracement of the appreciating range. The pair then found additional technical support above the 0.000533 area (indicated by the second blue up arrow) and appreciated to the 0.000548 area (indicated by the second red down arrow),...

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Sally Ho's Technical Analysis 25 November 2019

Bitcoin Bitcoin (BTC/USD) moved lower early in today’s Asian session as the pair sank to the 6804.00 level late in yesterday’s North American session following steady selling pressure from the 7361.41 level during Saturday’s North American session.  The pair’s recent downward range expansion has shifted focus to some longer-term price ranges and related retracement levels that could soon become more relevant given the ongoing deterioration in market sentiment.  After the market moved below the 7427 and 7296 areas and traders had Stops elected below the 6899 area, focus has shifted on downside market levels that have now come into view...

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Can Bitcoin (BTC) Decline Straight To $6,000 And Lower?

Bitcoin (BTC) has not seen any attempts to rescue the price so far. We have seen the occasional liquidity pumps here and there but not a sustained from the recent lows. This has now put the price at risk of further decline within the descending channel before any short term trend reversal. The 4H chart for BTC/USD shows that we could still see another crash similar to the one before which would bring the price down right to the bottom of the descending channel. It is pertinent to note that the vast majority of traders are still too optimistic and...

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