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Could Bitcoin (BTC) Invalidate the Descending Triangle?

There is a descending triangle on the BTC/USD chart that everyone is looking at. For the bulls this is a sign that the move to the upside may be short-lived whereas for the bears this is a sign of confidence that the price might soon start decline. In my opinion, before that happens, both sides are going to be surprised. When the price started to shoot straight past $6,000 and made a parabolic run from there, the bulls and bears were both very surprised. The same could happen this time if the descending triangle is broken to the upside. The...

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Sally Ho's Technical Analysis 31 August 2019

Bitcoin Bitcoin (BTC/USD) glided higher early in today’s Asian session as the pair traded as high as the 9649.01 area following a move to the 9699.00 level late in yesterday’s North American session.  Bids emerged around the 9451.67 area during yesterday’s North American session and Bids also emerged there during yesterday’s European session.  Notably, that levels represent the 50% retracement of the move from 9,321.73 to 9,572.99.  During yesterday’s Asian session, the pair traded as low as the 9337.97 area before gaining ground. If BTC/USD Bulls are able to take command in the near-term, one of the first important levels...

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Bitcoin’s Solution Revisited

Not all that long ago, many news outlets started to discuss a new solution that aimed to address one of Bitcoin’s biggest issues, scalability. Here’s a little recap for you: Tadge Dryja is the researcher in question and is one of the people who first created Bitcoins experimental payment solution, lightning network. In Dryja’s latest paper, new ideas for scaling solutions are discussed in a piece of research that aims to improve the way Bitcoin scales transactions. One of the big issues with Bitcoin at the moment is that it can often take a while for the network to handle...

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Bitcoin (BTC) Bulls Have Taken Control

Bitcoin (BTC) has declined below the descending triangle but a lot of people are suddenly expecting a fall to $8,000 or $3,000 from here. This would be useless from the market makers standpoint because they don’t want to just drag the price down to $3,000. They want to sell you a dream and make you believe that it might still recover. So, it will decline and then you would expect it to recover and then it would decline again in a way that you still remain hopeful. So, I don’t see the price falling below $9,000 because BTC/USD has found...

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Why Bitcoin (BTC) May Not Fall Below $9,000 Before Rallying Much Higher

Bitcoin (BTC) is very unlikely to fall below $9,000 before rallying much higher. If we take a look at the 4H chart for BTC/USD, we can see some fractal similarities between the price action this month and that of the previous month. There is pattern of rise and fall that is shown very clearly by the chart. I don’t consider this a coincidence because all of this is staged and it has happened in the past as well. There is no reason to think that the price of Bitcoin (BTC) is controlled by retail traders when more than 90% of...

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