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Bitcoin (BTC) Likely To Decline Deeper Within The Falling Wedge

Bitcoin (BTC) is struggling to break past the 61.8% fib extension level but so far there is not enough momentum for a successful breakout. The probability of such a break to the upside also remains low considering the price has a lot of room to decline within the falling wedge. The reason a decline is more likely at this point is because the price is now trading under extremely overbought conditions on shorter time frames. On the 4H chart, we see that the Stochastic RSI shot up significantly in a very short period of time. In addition to that, the...

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Do Banks Show Bitcoin to Be a Better an Alternative?

Bitcoin versus the baking system is an age-old argument that can only really have two answers. The first being bitcoin is better and the second is bitcoin is not better, it’s quite simple really. There are several reasons in favour of the banking system here for sure but what about bitcoin? Well for starters, if you go an ATM in the middle of town, the bank will have kept your deposit to disperse loan charges to you as a fee for using the ATM. This is a fee that has only increased over time as well. Despite the greediness of...

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Sally Ho's Technical Analysis 7 October 2019

Bitcoin Bitcoin (BTC/USD) extended some recent weakness early in today’s Asian session as the pair traded as low as the 7801.00 level following weakness during yesterday’s North American session.  Trading conviction remains muted as market sentiment is showing neither a Bullish bias nor a Bearish bias in the medium-term, and this is keeping the pair confined to a relatively narrow range above the 8000 figure.  If the pair is going to make an upside charge, it must derive enough momentum to absorb selling pressure around the 8211.08 area, representing the 50% retracement of the move from 8419.95 to 8002.21. Above...

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BTC Developer Offers a Hand to Binance, For a Price...

Udi Wertheimer, one of the most outspoken bitcoin developers of recent years has just pledged himself to advertise for the binance platform for the rest of the year, but only if the firm integrates some very specific features. This all came from a twitter debate starting on the 2nd October when Wertheimer made an unexpected decision to influence the development of the exchange.  At the helm of one of the biggest crypto platforms out there, Changpeng Zhao got involved after Wertheimer said he could potentially change his twitter profile picture to the logo of Binance until 2020. He said on...

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Sally Ho's Technical Analysis 6 October 2019

Bitcoin Bitcoin (BTC/USD) appreciated to the 8176.18 level early in today’s Asian session as the pair tested its 50-bar MA (4-hourly) and them came off.  Bids emerged around the 8020.20 area during yesterday’s European session after negative market sentiment saw the pair glide lower during Friday’s European session and test the 8002.21 level after some Stops were elected below the 8019.59 area, a level that represents the 61.8% retracement of the 7701.00 – 8535.00 range.  Traders have been unable to retest the 8260.37 area following the move lower, and this level is significant because it represents the 61.8% retracement of...

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