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Sally Ho's Technical Analysis 29 July 2019

Bitcoin Bitcoin (BTC/USD) searched for direction early in today’s Asian session as the pair continues to orbit a relatively tight range following its sharp decline during Saturday’s North American session that saw the pair eventually reach the 9,285.48 area, representing the 50% retracement of the move from 4,702.53 to 13,868.44.  The pair’s next upside price objective related to this range is 10,367.06 and the pair’s next downside price objective related to this range is 8,203.91. After testing 9,285.48, traders have lacked firm conviction to take BTC/USD in a new direction. The 50-bar MA (4-hourly) once again proved to be toppish...

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Nouriel Roubini Unsurprisingly Says India’s BTC Ban Is “Good News”

As we’ve previously reported on here at CryptoDaily, India’s cryptocurrency ban is bad news. There’s no doubt about it.  But whereas enthusiasts like you and I will see this cryptocurrency ban as bearish news for the space, Bitcoin critics like Nouriel Roubini see this as ‘good news’. The New York economics professor says that a proper ban on crypto in one of the world's biggest countries will save ‘retail suckers’ in the country from investing in ‘shitcoins’, as Roubini so eloquently puts it. Also known as Dr Doom, Roubini has hailed the alleged draft of the bill to ban cryptocurrency...

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Why Bitcoin Could Drop To $1,200 Before Its Next Halving

Bitcoin (BTC) had a good run between 2016 and 2018. It erased most of its gains in 2018 and now it has recovered some of those gains in 2019. Is this something we are seeing for the first time? No, it’s not. We saw the price did the exact same thing during 2014 after its first downtrend when the price found a temporary bottom at the 21 Month EMA. This parabolic run was then followed by a brutal downtrend that lasted through the remainder of 2014 and most of 2015. The Schiff Pitchfork on the monthly chart for BTC/USD shows...

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Ethereum (ETH) Sparks Altcoin Season Hopes Again As It Rallies Against Bitcoin (BTC)

Ethereum (ETH) declined for more than ten weeks straight against Bitcoin (BTC) and all hopes of an altcoin season got completely crushed during that time. However, now that the price seems to have found a temporary support, we see a glimmer of hope as ETH/BTC attempts to test the previous support turned resistance. In the weeks ahead, we are likely to see Ethereum (ETH) rise to test that level. Now, we do not expect it to be broken to the upside but while it is rallying higher to test that level, we might see hopes of an altcoin season surface...

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Scammer Stolen $7 Million From Businesses Trying To Sell BTC

The United States Federal Bureau of Investigation (FBI) has indicated a Pennsylvanian man for allegedly defrauding $7 million from prospective Bitcoin investors through an effectively fake ‘escrow’ service. The head of two cryptocurrencies ‘firms’, Barry Thompson has allegedly promised to minimise the risk when purchasing big amounts of cryptocurrency, according to local authorities. However, this was based on the notion that Thompson would act as a custodian for both sides of the transactions, but Thompson never actually intended to offer any escrow services at all. “Thompson allegedly thought no one would ask where their actual money went when they trusted...

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