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Is Bitcoin (BTC) Ready To Crash Again?

Bitcoin (BTC) is not at a favorable point for further upside. It has been trading sideways for the past few days but it is now beginning to get clearer that all it has been doing is stalling a sharp move to the downside. Make no mistake; we could still see another fake out that might see the price breaking out of the descending triangle to shake out some aggressive bears and trap in some bulls before the next downtrend begins. However, that would merely delay the inevitable and what is meant to happen will happen sooner or later. There is...

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Sally Ho's Technical Analysis 15 October 2019

Bitcoin Bitcoin (BTC/USD) was slightly weaker  early in today’s Asian session as the pair moved to the 8328.81 level after trading as high as the 8420.00 area late in yesterday’s North American session.  Some traders have reevaluated market sentiment following the rapid sell-off early in yesterday’s Asian session that saw a plunge from the 8446.03 level to the 8146.47 area in just a few minutes.  Technical Bids emerged to protect the 8130.75 area, representing the 61.8% retracement of the move from 7701.00 to 8826.00.  Below that area, the 7966.50 area represents the 76.4% retracement of the same range.  If a...

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Bitcoin (BTC) Cannot Trade Sideways For Long

Bitcoin (BTC) made a big move to the downside after we last talked about it on Friday but in the days that followed it has practically traded sideways. However, now it has run into a key trend line resistance and is once again on the verge of a sharp decline. The last time this happened, we saw the price decline massively and if the same happens again then we are looking at BTC/USD declining towards the bottom of the descending triangle that we see on the daily chart. This is a bearish development for the overall market but it is...

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Bearish EUR/USD Might Drag Bitcoin (BTC) Down With It

EUR/USD is bearish and it might drag Bitcoin (BTC) down with it if it begins its long anticipated downtrend today. The reason I expect this to happen is because BTC/USD is predominantly traded in US Dollars (USD) on most exchanges. The EUR/USD pair contributes the most to the strength or weakness of the US Dollar (USD). So, if it EUR/USD starts to decline now that it has faced a strong rejection at the 50 day EMA, it means that we might see Bitcoin (BTC) do the same. It is pertinent to note that EUR/USD has continuously faced a series of...

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2019’s BTC Wealthy Individuals Similar to that of 2014’s Market

The number of Bitcoin addresses that have more than one thousand Bitcoin in them (worth over $8 million) is growing at a huge pace. In fact, it’s growing at the same speed as it was in 2014. Initially uploaded to social several social networks by the Bitcoin enthusiast Willy Woo at the end of last week, a chart of Bitcoin addresses growth by balance is a big indicator that the network is now repeating a trend from its earliest years. “The rate of growth of 1000BTC addresses now matches the early growth in Bitcoin's network,” he said. The on-chain analyst...

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