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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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Sally Ho's Technical Analysis 17 October 2019

Bitcoin Bitcoin (BTC/USD) was generally weaker early in today’s Asian session as the pair traded as low as the 7957.55 area after trading as low as the 7098.86 area during yesterday’s European session.  The pair depreciated sharply from the 8171.50 area during yesterday’s European session as BTC Bears finally found the conviction to push the pair below the 8130.75 area, representing the 61.8% retracement of the 7701.00 – 8826.00 range.  BTC/USD continues to trade below its 50-bar MA (hourly), 100-bar MA (hourly), and 200-bar MA (hourly). Stops were elected below the 7966.50 area during the pair’s move lower, representing the...

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Bitcoin (BTC) Bulls Might Soon Take Control

When something seems too good to be true, it usually is too good to be true. In this case, I’m talking about ETH/USD and the manner in which it has declined. We have seen a sharp decline that was too obvious and a lot of traders might have profited off that. Most of you know that I have been bearish on Ethereum (ETH) since $222 but now I can see the outlook changing near term and this is why I would be very cautious being bearish here anymore. You can see on Crypto Twitter and YouTube that people have started...

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