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Sally Ho's Technical Analysis 24 October 2019

Bitcoin Bitcoin (BTC/USD) was slightly weaker early in today’s Asian session as the pair fell back to the 7430.02 area after trading as low as the 7296.44 area during yesterday’s North American session.  Selling pressure emerged during Tuesday’s North American session when traders started driving the pair lower from the 8317.14 level and intensified early in yesterday’s North American session when the price declined below the 7300 figure.  This represented the pair’s weakest print since mid-May and accelerated after Stops were elected below the 7508.77 area, a relative low from June. Selling pressure was also seen below the 7701 area,...

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Ethereum (ETH) All Set To Begin Its Uptrend Against Bitcoin (BTC)

Ethereum (ETH) is all set to begin its uptrend against Bitcoin (BTC). The daily chart for ETH/BTC shows that the pair has found support on the 50 day EMA and could soon begin its uptrend. The RSI as well as the Stochastic RSI are both in favor of such a move. This is line with our previous analyses on Ethereum (ETH) in which we have discussed how ETH/BTC is unlikely to begin its downtrend before it tests the 200 day EMA. After this uptrend, Ethereum (ETH) may finally be in a position to do that. The pair is likely to...

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Bitcoin (BTC) Bullish Setup Still Remains Valid

Bitcoin (BTC) seems to be caught up in some serious bearishness short term but the near term outlook still remains positive. If we look at the 4H chart for BTC/USD, we can see a diamond formation that is quite significant. Historically, diamond formations have worked well in this market. The last time we saw a similar diamond formation, we saw a big move to the upside in Bitcoin (BTC). The same could happen this time but traders need to be cautious as the stakes are too high and the market makers and whales are unlikely to just give the trade...

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Bitcoin (BTC): Short Term Bullish Trend Reversal Is Only A Matter Of Time

Bitcoin (BTC) is long overdue for a major bullish reversal short term and it is only a matter of time that we see that happen. The daily chart for BTC/USD shows how the price has been trading within a diamond formation and is now ready to break out of it. We could see the price trade sideways within this diamond formation or even fall further leaving long wicks to the downside as it ends up closing back within the diamond. However, the fact of the matter is that there are a lot of indicators pointing to imminent bullish reversal from...

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Winklevoss Argues ‘Bitcoin Vs Gold’ Debate

One-half of the Winklevoss twins, Cameron Winklevoss has come out to say that Bitcoin’s possibilities go beyond just ‘digital gold’. In a tweet posted earlier today, Cameron argued: “Because Bitcoin is open source software, its possibilities are boundless. I often talk about gold as a target market cap, but that's really just the beginning...it's digital gold, source of truth, etc…” Cameron’s argument mainly focuses on going beyond the typical analogy of comparing the leading cryptocurrency with that of solid gold. The proponents of gold have been compared to the finite supply of bitcoin given the scarcity of the gold bars. ...

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