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Sally Ho's Technical Analysis 12 August 2019

Bitcoin Bitcoin (BTC/USD) searched for a fresh market bias early in today’s Asian session as the pair continues to take cues from important technical levels. During yesterday’s European session, the pair fell sharply to the 11,088.88 area before bouncing higher, a level that is right around the 38.2% retracement of the move from 6,600.00 to 13,868.44. BTC bulls continue to try to establish a base around the psychologically-important 12,000 figure, a possibility especially after several recent tests of the technically-important 11,978.03 area, representing the 38.2% retracement of the move from 8,919.72 to 13,868.44. Likewise, BTC/USD Bulls are trying to establish...

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Bitcoin (BTC) Primed For A Major Decline Below $11,000

Bitcoin (BTC) is primed for a major decline below $11,000. In the past 24 hours we have seen it attempt to test the $11,093 support and it succeeded in holding that support. However, back then the price had room to rally. Now, the RSI has run into its downtrend resistance and the price has already begun it decline from the key resistance zone of $11,476. We expect the price to crash hard from here most likely before the end of the day. We could see a major move all the way down to the 200 EMA on the 4H chart...

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Sally Ho's Technical Analysis 11 August 2019

Bitcoin Bitcoin (BTC/USD) continued to search for direction early in today’s Asian session as traders continue to keep the pair confined to a relatively tight range.  BTC bulls continue to eye the psychologically-important 12,000 figure, especially after several recent tests of the technically-important 11,978.03 area, representing the 38.2% retracement of the move from 8,919.72 to 13,868.44. BTC bears continue to find headwinds around the 11,439 and 11,394 areas, both of which represent important technical levels. Additionally, the 50-bar MA (4-hourly) is now indicating around the 11,415.93 level. Below these areas, Bids appear to be stronger around the 11,136.82 area, representing...

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Why Bitcoin (BTC) Broke Below The Pennant And What Happens Next

Bitcoin (BTC) has finally broken below the pennant but a lot of investors are worried as to why that might have happened. Before this drop actually happened, I posted a similar chart on Twitter saying, “If you want to determine which way BTC/USD is going to break, you need to determine who benefits if it goes up and who benefits if it goes down.” If you look at the Longs vs. Shorts ratio, retail traders were 73% long and 27% short on Bitcoin (BTC). That difference has now declined to 68%-32% in favor of longs but it is still quite...

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Sally Ho's Technical Analysis 10 August 2019

Bitcoin Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair climbed to the 11,945.00 area after finding technical Support around the 11,645.32 area during yesterday’s European and North American sessions, representing the 38.2% retracement of the move from 8,048.75 to 13,868.44.  Bulls continue to chip away at the 11,978.03 area, a level that has served as technical Resistance over the past several trading sessions with a little bit of trading activity above it. The pair continues to trade well above its 50-bar MA (4-hourly) and continues to oscillate above and below its 50-bar MA (hourly). The 11,950 level...

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