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Bitcoin All Set To Begin Next Downtrend

Bitcoin (BTC) is ready to begin its next downtrend and we talked about this in our last video analysis that a downtrend from current levels is inevitable. We now see BTC/USD trading within a descending triangle. Historically, we have seen that descending triangles lead to further downside. They may not always break to the downside but they do lead to downside most of the time. In this case, we might see a fake out as we have before but the market is likely to enter a downtrend soon afterwards as there is not much room for further upside. A temporary...

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Bitcoin (BTC) Could Decline Below $9,000 In A Matter Of Days

Bitcoin (BTC) could begin its downtrend soon as it declines below the key descending triangle that it has been trading in for a while now. This descending triangle while unlikely to break cleanly to the downside would lead to further downside nonetheless. Descending triangles in this market are often invalidated first with fake outs that shake out most of the retail bears and then the downtrend actually begins. If the same were to happen this time, we would expect it in the next few days as conditions are ripe for another fake out on the 4H chart for BTC/USD. However,...

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Schiff Claims Bitcoin To Be The Biggest Pump And Dump Scheme Of Them All

The well-known bitcoin naysayer Peter Shiff has been digging into cryptocurrencies for years now and it seems that he’s a difficult guy to deal with, especially in this context. He’s never really backed down when it comes to hating on BTC and from a non-biased perspective, you’ve got to respect that the guy sticks to his guns! On Twitter this week, the CEO of Euro Pacific Capital told his Bitcoin followers that the whales are currently in the process of ‘offloading their bags’.  “Bitcoin hodlers won't sell as they believe they'll get rich when #Bitcoin moons. Bitcoin whales get rich...

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China’s Latest Crypto Rankings See EOS On Top With Bitcoin Lagging Behind...

The CCID (China’s Centre for Information and Industry Development) recently published a new list of its crypto ranking index. This is a move that follows the announcement from the nation’s president, Xi Jinping who is planning to embrace blockchain technology as a way of innovation.  The Chinese Centre is a research organisation that looks over the development of information industries in the country. Furthermore, it functions under the oversight of the nation’s Ministry of Industry and Information Technology. The institution creates a bridge between companies and the government. They will also provide them with research, certification and a variety of...

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Sally Ho's Technical Analysis 30 October 2019

Bitcoin Bitcoin (BTC/USD) rallied higher early in today’s Asian session as the pair climbed to the 9515.03 area after trading as low as the 9068.19 area during yesterday’s North American session.  Traders continue to keep BTC/USD above some important technical levels and this could lead to additional price gains. Over the weekend, technical Bids emerged around the 8917.00 area, right around the 50% retracement of the recent 7296.44 – 10540.49 range.  The pair bounced higher from this level and has since been orbiting a couple of additional price retracement levels related to this range, including 9301.26 and 9774.89.  Another important...

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