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Sally Ho's Technical Analysis 28 September 2019

Bitcoin Bitcoin (BTC/USD) appreciated to the 8049.15 area early in today’s Asian session as sentiment continues to worsen following the pair’s sharp declines this week that saw the 10000 figure give way before some important areas of technical Support also yielded ground. Stops were reached below the 8203.91 area late in the week and these saw BTC/USD skid to a fresh multi-month low around the 7712.45 area.  The new round of BTC weakness is spotlighting some news areas of potential technical Support, including the 8341.79 area that represents the 23.6% retracement of the 10379.15 – 7712.45 range. The pair continues...

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Bitcoin (BTC) Bears Not Ready To Back Down Just Yet

Bitcoin (BTC) declined aggressively in the past few days but we still don’t have much hope of a recovery as long as the price fails to break above the 200 day EMA. Some traders were looking at the 200 day SMA when we crashed below the 200 day EMA but we now have a close below that as well. So, there is no reason to be bullish on BTC/USD until we see a break past that level. While it is tempting to be bearish on Bitcoin (BTC) at this point, it is pertinent to note that a sharp decline in...

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Will Bitcoin Recover from $7k Range?

Once again, Bitcoin took a fall below the $8k key resistance level. After months of being able to stay near $9k/$10k ranges, it finally fell under the pressure and for a short time fell into the $7k mark.  So what does thing mean for the ecosystem? Well, David Nage - principal at the Los Angeles-based money firm Arca Funds, has given his thoughts on this week’s drop in value for bitcoin and whether the volatility in digital assets might turn off big investors. Nage saw Bitcoin’s price to be artificially range-bound until correction, stated: “With bitcoin, where there’s potentially a...

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Bitcoin (BTC) Correction May Still Not Be Over As Bulls Fail To Gain Control

Bitcoin (BTC) correction may still not be over as bulls have failed to gain control. The price has been on a brutal decline for the past few days but there are still no signs of a recovery as we have seen a strong rejection at the 200 EMA on retest. The daily chart for BTC/USD shows that the price has broken a smaller descending triangle but now it is on the verge of breaking a larger descending triangle. That being said, I don’t expect it to happen when everyone is expecting it. Yesterday’s close below the 200 day EMA was...

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African Interest in Bitcoin Peaks!

According to recent data, Africa is growing in the interest of Bitcoin. In the nations of South Africa and Nigeria currently, lead in terms of Google searches in relation to the leading cryptocurrency. Despite experiencing a significant loss in value these few weeks, this news comes from data through Binance Research, the crypto market analysis branch of the crypto platform. The department published a video of statistics showing the interest of bitcoin country by country. “Visualized changes in heat ranking of “Bitcoin” #BTC in Google search by each Country/Region from Jan 2011 to today.  Noticeably, relative search trends of "Bitcoin"...

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