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Sally Ho's Technical Analysis 5 August 2019

Bitcoin Bitcoin (BTC/USD) rocketed higher early in today’s Asian session as the pair advanced to the 11,258.88 level, its strongest showing since 14 July, and right around an important technical level that represents the 38.2% retracement of the move from 13,868.44 to 9,651.00.  The test of this area is technically relevant and chartists are eyeing that range’s next upside target around the 11,759.72 area with another upside target around the 12,257.38 level.  The pair is now comfortably trading above the 200-bar MA (4-hourly), and the 50-bar MA (4-hourly) and 100-bar MA (4-hourly) continue to converge. Traders elected Stops above the...

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Idaho Representative Doesn’t Think A US Bitcoin Ban Is Possible

The United States Senator and representative for Idaho has confessed that it wouldn’t be all that easy to ban cryptocurrency in America, as has been indicated over the past few weeks following Donald Trump’s tweets in regards to Bitcoin recently. Mike Crapo has provided a number of positive comments on Bitcoin as he chaired the Senate Committee on Banking, housing and urban affairs cryptocurrency hearing that occurred earlier this week. “If the United States were to decide, and I’m not saying it should, if the United States decided we didn’t want cryptocurrency to happen in the United States and tried...

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$470 Million BTC Moved By Whale

Earlier this week, one crypto whale moved a whopping amount of Bitcoin worth almost $470 million and they just had to pay a few hundred dollars to do so.  This comes after the Whale Alert Twitter account posted a tweet on the 29th: 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨  49,756 #BTC (468,491,827 USD) transferred from unknown wallet to unknown walletTx: https://t.co/Y0Ia5t2rEA — Whale Alert (@whale_alert) July 29, 2019 For those that don’t know, the Whale Alert Twitter account is dedicated to “live tracking of large crypto transactions from and to exchanges” for some of the top...

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Sally Ho's Technical Analysis 4 August 2019

Bitcoin Bitcoin (BTC/USD) continued to consolidate recent gains below the psychologically-important 11,000 figure following its recent move higher early in today’s Asian session.  During yesterday’s European session, the pair again tested and traded above the 10,810.13 area, representing the 61.8% retracement of the move from 8,919.72 to 13,868.44.  Market activity then found demand around the 10,688.61 level, representing the 50% retracement of the 7,508.77 – 13,868.44 range. Stronger Bids emerged around the 10,367.06 level, representing the 38.2% retracement of the move from 4,702.53 to 13,868.44. Additional Bids then emerged later in the Asian session around the 10,508.20 level, itself an...

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Bitcoin (BTC) Likely To See Further Upside If Rally Past $11,000 Materializes

Bitcoin (BTC) rallies quite impressively in the past 48 hours after it broke past a key trend line support turned resistance. This was a bullish development which led to the price escaping the grip of the 200 EMA on the 4H time frame and eventually rising as high as the 38.2% fib extension level. This level stands between the price beginning a downtrend from here or continuing the current uptrend past $11,000. If BTC/USD succeeds in breaking past $11,000 we are likely to see significant further upside with the price rising as high as $11,800 before it tops out. This...

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