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Why Bitcoin (BTC) Bears Might Be In For A Big Surprise

Bitcoin (BTC) is very close to a major breakout. The 4H chart for BTC/USD shows that we will have the next big move in less than four days. This is a big development to follow for a lot of traders because the bears are expecting the price to decline to $5,500 or $6,000 from current levels whereas the bulls are expecting the smaller descending triangle to be invalidated and for the price to shoot out of the larger falling wedge instead. In my opinion, the larger falling wedge has a much higher probability of playing out. Even if both scenarios...

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Bitcoin Remittances Helping Venezuelan Migrants, But is it Enough?

Considering he only recently just left college, what Deimer González has achieved over the last year was unexpected, to say the least.  Bear with me here because don’t worry, there’s a point to this.  You may never have heard of González but in 2018 he left college with his diploma, clothes and memories to last to life along with a mobile wallet filled with 1.5 BTC in savings and left Venezuela.  Hailing from the Capital of Venezuela, Caracas, González said that the savings that helped him to support his parents as he started to build a new life in Buenos...

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Bitcoin (BTC) Is Days Away From Its Next Big Breakout

Bitcoin (BTC) has seen massive volatility recently and investors are confused as to its next direction. The bulls and bears are the most divided at this point with the bears expecting a decline down to $6,000 while the bulls expect the descending triangle on the daily chart for BTC/USD to be invalidated and for the price to rally past $8,000 to $9,256 and higher levels in the days ahead. Developments over the past few days have convinced me that what is happening at the moment is just scare tactics to discourage the bulls from getting onboard and encourage the bears...

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Sally Ho's Technical Analysis 18 October 2019

Bitcoin Bitcoin (BTC/USD) was a little stronger early in today’s Asian session as the pair traded as high as the 8081.69 area after trading as low as the 7937.01 level during yesterday’s European session.  During the pair’s ascent yesterday, BTC Bulls pushed the pair as high as the 8124.42 area, just below the 8130.75 area that represents the 61.8% retracement of the 7701.00 – 8826.00 range.  Before testing that level, some buying demand emerged around the 8015.13 area, representing the 23.6% retracement of the 8995.00 – 7712.45 range. After testing this level, some buying interest emerged around and below the...

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Why Bitcoin (BTC)’s Near Term Weakness Could Be A Massive Bear Trap

Bitcoin (BTC) has been very bearish the past few days which has made a lot of investors worried. Ironically, some bears like me that have been short since the local top now think we have come to a point where it is not worth the risk/reward to be short on Bitcoin (BTC) for now. There are a lot of reasons that suggest that the recent weakness in the market could actually be part of a major bear trap that could lead to a massive short squeeze in the near future. The difference between the bulls and the bears is that...

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