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Sally Ho's Technical Analysis 16 August 2019

Bitcoin Bitcoin (BTC/USD) gained a little bit of ground early in today’s Asian session as the pair escalated higher to the 10,154.74 level following another sharp move lower overnight that saw the pair test the 9,470.00 level, its weakest print since late July.  The pair was unable to get back above the 10,234.22 area during yesterday’s Asian session and European session, representing the 50% retracement of the move from 6,600 to 13,868.44.  Bids emerged around the 9,470.23 level during today’s Asian session to reverse the quick decline lower, representing the 50% retracement of the move from 5,072.01 to 13,868.44.  The...

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How Come the SEC Keeps Delaying the Bitcoin ETFs?

Yet again, the decision on three of the most anticipated ETF’s has been delayed for a later date. The three Bitcoin ETF proposals include Bitwise Asset Management, VanEck-SolidX and Wilshire Phoenix. Postponed Once More The United States Securities and Exchange Commission (SEC) has hit the delay button on the ETF’s once more in order for them to further evaluate whether the derivatives meet the conditions necessary to protect investors. The rulings for the Bitwise ETF was postponed to October 13th whereas the VanEck-SolidX were pushed back to the 18th October. Wilshire’s Phoneix’s proposals are now set for 29th September. So...

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Bitcoin Is No Longer a Safe Haven for Investors During Stock Losses

Over the past day, the Dow Jones Industrial Average has just suffered one of its worst performances of the year as it dropped 800 points. Investors will typically run to safety during times like these which would include assets like traditional safe-haven gold or the leading cryptocurrency Bitcoin.  With Bitcoin being in the red over the past 24 hours, the flagship cryptocurrency hasn’t really done much for those investors today. Gold has seen an advancement of one percent to $1,516 but it seems to have a bit of power behind it. While the trade war between China and the US...

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Bitcoin (BTC) To See Some Upside After A Devastating Correction

Bitcoin (BTC) has completed its big move to the bottom of the descending triangle. The price plunged below $10,000 and touched our target of $9,482 before it bounced back up. It is now expected to keep going up from here till it reaches the top of the descending triangle again. This recent crash in BTC/USD was triggered by a break below the fib circle on our weekly chart. Soon as it broke below this circle, it declined below $10,000 and completed the move towards the bottom of the descending triangle in one go. As this move is now complete, we...

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Former US Senator Fights Against Feds in Favour of BTC

One of the OG’s in Federal hating is Ron Paul. the crypto-bull and former senator from Texas have chosen the current time of wild volatility in the financial markets to take aim at a new anti-Bitcoin project dubbed ‘FedNow’ in development by the US central bank. It shouldn’t come as a surprise that Paul is unnerved by Jerome Powell’s plans to extend his influence. As the current US president attacks the Federal Reserve with a ruthless thread of tweets. Paul is chairman for the Campaign for Liberty organisation which released a statement earlier this week, on the decision by Powell’s...

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