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Bitcoin Back Above $10k - Will it Hold?

Well well well, how the tables turn… Over the past 24 hours, we saw the price of bitcoin surge by more than seven percent, boosting the price above the $10k key resistance level once more. Before this minor rally occurred, several analysts and cryptocurrency traders including Josh Rager and Flood indicated that the leading cryptocurrency could actually shift below the $9k mark and test the lower waters if an important support level in $9.3k was breached. On August 31st Flood said: “Odds are you're likely free rolling a short with a tight stop here. IF 9.3k breaks on this run...

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Sally Ho's Technical Analysis 3 September 2019

Bitcoin Bitcoin (BTC/USD) extended recent gains early in today’s Asian session as the pair climbed to the 10486.77 level in a show of strength that erased all of the losses incurred after the sharp depreciation from the 10277.00 figure last week.  The pair tested a recent relative high from 23 August and then retreated lower. Stops were elected above the 10,083.05 area during the appreciation, representing the 100-bar MA (4-hourly).  The break above the psychologically-important 10,000 figure now opens up additional upside price targets and objectives. Stops were also triggered above the 200-bar MA (hourly) during the climb higher, then...

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Bitcoin ISN'T the Answer to the Troubled Financial System According to this Entrepreneur

The co-founder and CEO of the video content monetisation platform Streambed Media, Michael J. Casey has made the argument that the traditional financial system is ‘broken’. Casey wrote a piece for CoinDesk, saying: “The international monetary system is broken. Helping to fix it poses a huge opportunity for the cryptographers behind cryptocurrency and blockchain technology.” Casey pointed out that the Bank of England Governor Mark Carney believes cryptocurrencies could end up replacing the US dollar and some other big-time fiat currencies. Carney spoke on the subject last month, saying that while attending the Federal Reserve’s annual gabfest, that a “synthetic...

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What EUR/USD Tells Us About The Near Term Price Action In Bitcoin (BTC)

The Euro (EUR) has been showing signs of weakness and we have long expected it to begin its downtrend against the US Dollar (USD). For the past few months, it has been stalling a sharp move to the downside but last month it happened and EUR/USD declined aggressively not just below the descending triangle but also below the symmetrical triangle or pennant that we see on the daily chat for EUR/USD. It is important to note that EUR/USD is currently trading below the 21 EMA which is why it declined so aggressively below the pennant. I call the 21 EMA...

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Is Now the Last Time To Jump on the BTC Bandwagon?

Have the bulls truly gone? Well maybe not as looking at Bitcoin today, we can see that the price has surged by two percent, pumping the price above the $9.8k mark after it has been playing around the $9.5k arena for the past few days. This isn’t a lot sure, but this bounce has reportedly prevented the cryptocurrency from dropping below a key uptrend and has even put it in the position to see further gains. The former head of the Goldman Sachs hedge fund sales division in Europe, Raoul Pal, has said Bitcoin is looking like “rocket ship” that...

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