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Bitcoin (BTC) Bears Need To Wait For Confirmation

Bitcoin dominance has declined further. In our Saturday’s analysis on Bitcoin (BTC) we discussed how a falling Bitcoin dominance is good for the bullish morale because when Bitcoin dominance falls it means that people have confidence in cryptocurrencies other than Bitcoin as well. The dominance level has declined significantly from when we posted the chart and as we can see it is now resting on a strong support. If we are to see further downside follow in BTC/USD then this support for Bitcoin dominance cannot break. If Bitcoin dominance ends up breaking this support, then we should be prepared for...

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Crypto Twitter Analyst Predicts Bullish Future for Future Price

One of the most prominent crypto analysts on twitter Majin was once known to be a bull on bitcoin however now, he seems to have gone bearish and called for BTC to slide all the way down to $7k.  Given that the current price is currently held at $7,912.42, a drop of $900 would, in theory, be seriously harmful to the market. Now, this was actually a prediction by Majin made earlier in the year, at the end of July.  As we are on the way to a $7k Bitcoin, some of the biggest bulls from crypto twitter are coming...

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Sally Ho's Technical Analysis 30 September 2019

Bitcoin Bitcoin (BTC/USD) depreciated early in today’s Asian session as traders continued to observe the pair hover around the 8000 figure following last week’s drastic depreciation that saw a crash below the psychologically-important 10000 figure.  A new short-term range has emerged following the pair’s recent tumble to the 7712.45 area, and Bids emerged around the 8001.23 area during a brief pullback, representing the 50% retracement of the 7712.45 – 8290.00 range.  Another important level that has drawn attention is the 8153.70 area, representing the 23.6% retracement of the same range. Notably, the 7933.07 area emerged as technical Support during yesterday’s...

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Bitcoin (BTC) Likely To See Recovery Next Week

Bitcoin (BTC) is likely to see a speedy recovery next week if the price ends up closing above the 50 Week EMA. Historically, this has led to significant upside and we expect this time to be no different. In fact, we might see the price rally even more aggressive to liquidate some shorts and test the previously broken descending triangle as resistance. It is important to realize that even though BTC/USD has had a massive decline this week, we would still need to see a retest of the previously broken descending triangle and see a rejection there to confirm our...

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Sally Ho's Technical Analysis 29 September 2019

Bitcoin Bitcoin (BTC/USD) fell to the 8180.00 level early in today’s Asian session as traders were unable to sustain yesterday’s move higher from the 8015 area.  Following the pair’s recent depreciation to fresh multi-month lows, traders continue to identify new areas of technical Support and technical Resistance that could be tested in the near-term.  Above current market activity, traders are curious to see if the 8502.35 area becomes technical Resistance, a level that represents the 50% retracement of the 3136.25 – 13868.44 range.  Above that area, traders will see how price activity reacts around the 8929 and 9071 areas.  As...

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