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What The Massive Fall In Bitcoin (BTC) Shorts Means For The Price

Bitcoin (BTC) price continues to show weakness yet the number of shorts fell by 20,000 BTC in one day yesterday. A lot of traders are wondering what this might mean for the price of Bitcoin (BTC) as it is clearly not a short squeeze. If it were a short squeeze, we would have seen a strong pump in the price of Bitcoin (BTC). Well, if we take a look at the daily chart for BTCUSDShorts, we cans see that this is the chart for the number of margined shorts on the Bitfinex exchange. Normally, if such shorts were to be...

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Wall Street Veterans Starting To Invest In Bitcoin & Blockchain

The American businessmen, Wall Street titan and co-founder of the private equity firm KKR & Co., Henry Kravis is the latest big investor to get involved with blockchain and cryptocurrency.  The 75-year-old Wall Street legend is specifically investing in a cryptocurrency fund provided by ParaFi Capital according to Bloomberg. Kravis joins fellow billionaire investors Peter Thiel (PayPal) and Louis Bacon (Moore Capital Management), who have both placed their bets on cryptocurrency and blockchain tech. Ben Forman, founder of ParaFi Capital has said that the risky and often volatile world of cryptocurrency provides an unparalleled upside for new investors and traders....

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Bitcoin (BTC) Closed Its Most Important Month Since Jan, 2019. What Now?

Bitcoin (BTC) has just closed its most important month since January, 2019. We can see that the close is very bearish and signals further downside. BTC/USD formed a wick to the top of the previous all-time high and has now retraced significantly from there. The price ended up closing not only below the 61.8% fib retracement level but also below a strong resistance level. If we take a look at the weekly chart, we can see that the price has formed a gravestone doji. This is usually a precursor to further downside. The price has topped out here and further...

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Sally Ho's Technical Analysis 1 July 2019

Bitcoin Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair traded as high as the 11,424.19 area after being lifted higher from the 10,805.00 level in yesterday’s North American session.  A technical clue emerged late in yesterday’s North American session when Bids lifted the pair from daily lows right around the 61.8% retracement of the 8919.72 – 13,868.44 range. The 11,394 and 11,978 levels are the next upside retracement levels related to this range. The pair fell back below the 50-bar MA (4-hourly) during yesterday’s European session. Bitcoin bears are eyeing some important technical levels to the downside....

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Bitcoin (BTC) Likely To Close The Month Below Strong Resistance Levels

Bitcoin (BTC) is trading below key resistance levels and is expected to close the month below these levels. If we look at the monthly chart, we can see that BTC/USD formed a wick to the body of the all-time high candle of December, 2017 before it topped out and started to decline. The price ended up falling a lot aggressively and is now trading below the important 61.8% fib retracement level as well as the resistance at $11,621. It is important to realize that if the price ends up closing below this mark, we are likely to see a sharp...

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