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Bitcoin (BTC)’s Next Move Hinges On The Direction Of The EUR/USD Forex Pair

Bitcoin (BTC) is once again at a decision point and the bulls and the bears are both confused as to what that decision is going to be. We saw BTC/USD begin the day in red but it then made a big move to the upside which was similar to the manipulated moves we have seen recently. When the stakes are this high, such moves are to be expected. In the absence of real volume and trading interest in the market, most of the big players make their money playing such games. The recent move liquidated more than $40 million Bitcoin...

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Sally Ho's Technical Analysis 15 November 2019

Bitcoin Bitcoin (BTC/USD) depreciated to the 8572.00 level early in today’s Asian session as the pair extended its selling pressure that began around the 8784.61 level during yesterday’s Asian session.  Over the past few trading sessions, traders have kept the pair bid above the 8535.67 area, representing the 61.8% retracement of the move from 7296.44 to 10540.49.  Despite the quick ascent higher to the 9150.00 level on 10 November, BTC/USD has generally remained Given below the 8918.47 area, representing the 50% retracement of the aforementioned range.  Traders have noted the pair is also continuing to orbit the 200-bar MA (4-hourly),...

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Bitcoin Bears Could Soon Lose Control

Bitcoin declined below the 200 MA on the 4H time frame and it has finally closed twice consecutively below it. This would normally be a very bearish development leading to significant further downside but as we can see in this case, BTC/USD remains within a falling wedge as well as above the 61.8% fib extension level. Now that the price has tested this level again and held it, it is reasonable to assume that Bitcoin might rally from here until and unless we see a close below the 61.8% fib extension level or a daily close below the 200 Day...

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Can Bitcoin (BTC) Fall Lower Than $8,400?

Bitcoin (BTC) has currently seen two consecutive candles close below the 200 MA on the 4H time frame which is a bearish development. Normally, this would be followed by a big move to the downside but this time we are seeing the price resist that move because it still seems to be trading within the falling wedge. It is still likely that we might see BTC/USD decline to the 61.8% fib retracement level around $8,415 but the probability of the price falling much lower at this point has now diminished. A sharp decline from here towards the bottom of the...

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Bitcoin’s Negative Movement Is Leaving some Traders to Be Bullish

A bullish short term trend for bitcoin seems to be on the table after what has been a relatively stable week. When Bitcoin typically sees a sideways movement, altcoins such as Ripple’s XRP or Litecoin tend to experience a rally. Some technical analysts are predicting an even further pullback for the leading cryptocurrency before we see an upside. A bullish short term trend for bitcoin seems to be on the table after what has been a relatively stable week for the leading cryptocurrency following its big drop last month. When Bitcoin typically sees a sideways movement for a significant amount...

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