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Bitcoin Bears Unmoved By Recent Pump

There is something very bullish happening on this Bitcoin (BTC) chart. We have seen a big move out of the symmetrical triangle and now there is a bull flag in the making except it is on the inverted chart for Bitcoin (BTC) instead of the regular one. If something like this had happened on the regular chart most traders with a bullish mindset would readily accept that. So, I have sketched this on the inverted chart to demonstrate that it does not matter whether there is bull flag on the regular chart or the inverted chart. It means that we...

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Bearish EUR/USD Outlook Spells Trouble For Bitcoin (BTC)

The Euro is in a tough spot against the US Dollar and as we can see on the daily chart for EUR/USD, there is a lot of room for potential further downside. If the pair was to close below the 38.2% fib retracement level today, then we would be looking at a decline to the bottom of the channel. If you look at this chart and put it next to the BTC/USD chart, you would notice that movements in this pair have had a very strong impact on the price of Bitcoin (BTC) throughout Bitcoin (BTC)’s trading history. The effect...

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Sally Ho's Technical Analysis 8 October 2019

Bitcoin Bitcoin (BTC/USD) retreated lower to the 8208.99 level early in today’s Asian session after trading as high as the 8310.57 level during yesterday’s North American session.  Buying pressure became active during yesterday’s Asian session when traders lifted the pair from the 7762.35 area, preventing BTC/USD from then testing the 7701 area that it tested twice in late September.  Yesterday’s buying activity continued well into yesterday’s European session, lifting BTC/USD as high as the 8060.53 area, right around a previous relative low related to a prior move higher to the 13878.80 area. BTC/USD is again approaching its 50-bar MA (4-hourly)...

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Bitcoin (BTC) Could Trap More Bulls Before Next Decline

Bitcoin (BTC) shot up to test a previously broken support as resistance. It happen when we saw a break out of a smaller falling wedge within the large falling wedge. This was a bullish development short term but it was aimed at distracting traders from what is about to come. As expected, the bulls started to flock when it happened and now we have seen the price rally towards the top of the large falling wedge once again. The price has currently seen resistance at the 61.8% fib extension level but it could rally higher from there if this move...

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Blockstream CSO Believes the Current Block Limits Won’t be Needed in the Future

The chief strategy officer at the Bitcoin technology firm Blockstream, Samson Mow has recently said in an interview that the current block size limit may not even be needed in the future. Speaking with Decrypt last week, Mow stated that as an off-chain scaling solution like the Lightning Network progress, bitcoin will won’t need as much on-chain capacity over the next few years. Mow says he is “very bullish on the lightning network” and that at its core, the Lightning Network is a decentralised system or instant and high-volume bitcoin micro-payments. For bitcoin transactions though, they can sometimes take up...

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