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Sally Ho's Technical Analysis 16 July 2019

Bitcoin Bitcoin (BTC/USD) encountered some light buying activity early in today’s Asian session as the pair traded as high as the 11,080.01 area, just below an important retracement area that represents the 38.2% retracement of the move from 6600.00 to 13,868.44.  The next upside retracement level related to this range is the 12,153.09 area and the next downside retracement level related to the range is the 10,234.22 area.  The pair came off after testing this area but found some Bids around the 10,836.86 level, just above the 61.8% retracement of the move from 8919.72 to 13,868.44. As expected by chartists,...

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Apollo 11’s Computer System Being Used in an Attempt to Mine BTC

We have quite an unusual article today as we start by taking you back to a time before Bitcoin, in 1969 when Neil Armstrong became the first man to land on the moon in the Apollo 11 alongside Buzz Aldrin and Michael Collins. This is considered one of the greatest achievements of mankind, even to this day, almost half a century after Armstrong took that first step onto Tranquility Base and the lunar surface. Now you may have heard people say that the technology they had in 1969 was less than what is in our smartphones today, which is very...

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Bitcoin (BTC) Rally Past $11k Still Likely Despite Bearish Long-term Outlook

Bitcoin (BTC) has broken the parabolic uptrend which as we have discussed in our last analysis is the end of the bullish advance here. The price is now gearing up to begin its downtrend but it is unlikely to do that without the bulls fighting for control. The most likely scenario is that BTC/USD will find support atop the 50 Day EMA and begin its uptrend past $11,000 from there. At the moment, the probability of a move to the downside remains low because the price has seen serious downside over the past few days. We cannot expect it to...

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Bitcoin Now An Official Issue For 2020 Election

Last week, Donald Trump posted a few tweets which blew up on crypto Twitter as the 45th President said that he isn’t a fan of Bitcoin and the gang. Now, this whole fiasco has brought up an interesting topic for what is to come in the 2020 elections. Now even though he claims to not be a fan of virtual currency, the community should be thanking Trump for bringing up such an issue as it is now officially going to be a talking point in the 2020 election. I am not a fan of Bitcoin and other Cryptocurrencies, which are...

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Bitcoin (BTC) Bulls And Bears Finally Fight For Control

Bitcoin (BTC) has broken below the parabolic uptrend. This does not bode well for the crypto space in general and it is a clear indicator of the bulls losing control. However, it does not mean yet that the bears are in control. If we take a look at the price, we can see that BTC/USD has declined to the 50 Day EMA. This is a strong support and if the price manages to stay above it, we might see BTC/USD stall a move to the downside while the bulls and bears fight for control. It is pertinent to note though...

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