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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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Bitcoin (BTC) Risks A Sharp Decline Even Under The Bullish Case

Bitcoin (BTC) risks a sharp decline over the weekend even under the bullish case. This might be a similar correction to what we have seen before when the price declined below the previous descending triangle. At the moment, there is not enough bullish momentum for the price to break out of the falling wedge that it is currently trading in which is why there is a strong probability that we might see a sharp break out down  to the bottom of the falling wedge. RSI on the 4H time frame is in favor of such a move and the same...

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Bitcoin Vs. Libra: What's the Difference?

Facebook created headlines on their ideas to create their own cryptocurrency and it has already been compared to well-known cryptocurrencies such as ‘Bitcoin’. Following this many professionals question whether Libra can even be categorized as a cryptocurrency. Both Bitcoin and Libra are very dissimilar. Contrast In Technology With Bitcoin, all transactions are recorded anonymously and are secure because they are on a public ledger familiarly known as the blockchain. This proves that it is effectively both impossible and hopeless to interfere with the transactions that take place on the database.    However even though Libra also uses a form of blockchain,...

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Sally Ho's Technical Analysis 5 October 2019

Bitcoin Bitcoin (BTC/USD) depreciated to the 8110.04 level early in today’s Asian session as the pair continued to edge closer to the psychologically-important 8000 figure. The pair appears to have developed a downward bias following its moves around some technical levels including the 8338.18 area, a level BTC/USD was unable to test during yesterday’s Asian session.  Likewise, the 8321.36 level represents the 76.4% retracement of the move from 8419.95 to 8002.21.  Given the near-term negative sentiment, chartists are looking to see if the pair will test technical Support around the 7897.82 area ahead of buying pressure that has emerged around...

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Bitcoin’s Impact On Society

We’ve no way of knowing what kind of impact Bitcoin could have on the world if it is globally used although many believe that it could help third-world nations, help the economy and so much more. New Tech, New Thoughts An interesting concept was brought up by Bitcoinist in one of their recent articles. In today’s world, most critics will attempt to define Bitcoin using analogies. They compare it to things that they already know such as stocks, commodities and PayPal services. “Just like the automobile was first described as a horseless carriage, Bitcoin today is presented largely as digital...

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