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Bitcoin (BTC) Bearish Divergence Points To Increased Risks Of A Flash Crash

Bitcoin (BTC) is about to break out of an ascending triangle that the majority of traders and analysts are expecting to break to the upside. However, ground reality points to the opposite as the RSI on the 4H chart for BTC/USD shows a clear bearish divergence. The loss in bullish momentum is also visible in the price action and the Fear and Greed Index which has declined from 64 to 62 today. This means that Bitcoin bulls that were calling for a rally towards $6,000 or higher are now starting to doubt themselves. As most of them are already holding...

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The Impact China’s Mining Ban Could Have on BTC

China’s central planning agency announced plans to ban Bitcoin mining and is currently in the midst of soliciting comments before it makes its final determination. Mining and cryptocurrency experts have mixed opinions on how the move will impact the security and price of BTC. China’s Crypto Mining China is the world’s biggest manufacturer of Bitcoin ASICs and specialised cryptocurrency mining hardware. The two biggest firms in the industry, Canaan and Bitmain both usually operate out of the nation though. Even so, research suggests that just over 70 percent of Bitcoin's network hashrate stems from Chinese-managed pools. In order to remain...

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Sally Ho's Technical Analysis 10th April

Bitcoin Bitcoin (BTC/USD) continued to trade extremely technically but was generally confined to a relatively tight range, with volatility accounts awaiting the pair’s next clues. Technical Resistance has kept BTC/USD on the defensive around 5242.39, representing the 50% retracement of the 5352.50 – 5132.28 range. That level is being challenged early in today’s Asian session with chartists eyeing the 5268.38 and 5300.53 levels as next upside targets. As we noted in our 8 April 2019 analysis, chartists and technicians are interested to see if the 5244.04 and 5176.07 levels can become technically constructive. The 5265.70 level continues to be a...

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Mt. Gox Legal Head Steps Down Citing BTC Payouts Could Take Years

Mt. Gox has been an infamous exchange for many years now and the head of the biggest organised creditor group representing the former users of the failed exchange is stepping down amid what he described as a protracted legal medium that could take years to fully resolve. The founder and coordinator of the legal side to Mt. Gox, Andy Pag sat down with CoinDesk in an interview to explain that he now believes the ongoing legal problems might hold up the crypto exchange’s civil rehabilitation process for up to two more years. Mt. Gox Legal started around 18 months ago...

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Bitcoin (BTC) Is About To Break Out Of Ascending Triangle, Big Move Expected

Bitcoin (BTC) has run its course trading within an ascending triangle and will now have to break out. Needless to say, the majority of the crypto community expects the price to break above this ascending triangle. A lot of people seem to be completely unconcerned about the manner in which the price is growing. If it keeps moving sideways and then keeps pumping, most of them will not mind as long as it doesn’t begin to do the same thing in the other direction. However, that is the thing about pumps and dumps. There is a pump which is followed...

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