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Bitcoin (BTC) Is Days Away From Making Its Next Big Move

Bitcoin (BTC) is trading in an ascending and a descending channel simultaneously. It points to two possibilities. Either the price will break out of the descending triangle and continue upwards towards the top of the ascending channel or the price will keep moving down the descending channel and eventually break the ascending channel. BTC/USD has already faced a strong rejection at the top of the descending channel and is now awaiting its next decisive move. If the price falls significantly, it could break the long ascending channel and Bitcoin (BTC) will be all set to fall to $6,000 and then...

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Sally Ho's Technical Analysis 8 June 2019

Bitcoin Bitcoin (BTC/USD) gained some ground early in today’s Asian session as the pair moved higher back to the 8083.27 area and was supported around the 7975.01 level. Yesterday’s intraday high was established during the North American session as BTC/USD traded around the 8134.29 area, right around the 38.2% retracement of the 6600.00 – 9090.00 range. Also, yesterday’s intraday high was right around the 50% retracement of the 8834.54 – 7427.00 range. The pair continues to trade below the 50-bar MA (4-hourly), currently indicating around 8168.43. During yesterday’s North American session, some technical clues emerged when the pair derived technical...

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Bitcoin Millionaire On The Run After Another Scam

A famed Bitcoin millionaire is on the run after their involvement in a major cryptocurrency scam. Sadly, this isn’t the first time the person in question has gone into hiding after their involvement within a Bitcoin scam, suggesting that the majority of their millions is no doubt stolen from other fraudulent activities too. One thing that is clear is this - cryptocurrency scams aren’t the best way to make friends in the crypto industry. Divyesh Darji is an Indian businessman known for his grip on Bitcoin. He is now wanted by police in India for his involvement in a scam...

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Bitcoin (BTC) Still Has Ample Room For A Rally Past $9,000

Bitcoin (BTC) has once again begun its uptrend after cooling off for the past few days. The RSI and NVT indicators both flashed sell signals in the past few days but that has changed now. This means that we could see a rally past $9,000 in the days and weeks ahead. BTC/USD is yet to break out of an ascending wedge and is expected to test the 38.2% fib retracement from its previous all-time high of $20,000. I do not see BTC/USD falling below $3,000 before testing this level. Technical conditions are now in favor of Bitcoin (BTC) and any...

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Major European Bitcoin Exchange Closes Its Doors

At the end of April 2019, the next victim of the declining Bitcoin markets was claimed, a major European cryptocurrency exchange based in Poland called Coinroom has reportedly closed its doors and ceased operation, leaving a number of investors out of pocket, with some claiming to have lost as much as $15,000.00 worth of cryptocurrency as a result of this closure. Let this remind you of some of the risks involved with storing your cryptocurrency within an exchange. If the exchange goes down (which seems to happen more and more often these days) your stored assets could go down with...

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