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Sally Ho's Technical Analysis 4th April 2019

Bitcoin Bitcoin (BTC/USD) reached a key upside price objective early in the Asian session when 5265.70 was reached, representing the 50% retracement of the 7402.50 – 3128.89 range. Stops were triggered and pushed the pair as high as the 5345.00 figure before profit-taking knocked the pair lower to the 4787.11 level, just above the 4761.41 area, representing the 38.2% retracement of the same range. Today’s intraday high represents BTC/USD’s Highest level since 19 November 2018. Chartists are eyeing the 5403.82 level, representing the 61.8% retracement of the 6810.00 – 3128.89 range. Technical Support is expected around 4393.64/ 4137.46/ 3997.63 with...

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BTCs Big Price Surge Sparks Hope For The Future

Now we all know what the last year has been like for Bitcoin but if you are unaware it hasn’t been great to say the least. 2018 started on a pretty decent note with Bitcoin just losing a bit of its value from its $20,000 all-time high but then throughout the rest of the year, things just took a turn for the worse. By mid-December 2018, the price of the leading cryptocurrency was below the $4,000 mark following a devastating crash. This led to a lot of investors leaving the industry thinking that the bubble had burst once and for...

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Bitcoin (BTC) Due For Significant Further Downside Even If Bear Market Is Over

It is surprising to see such a wide range of disagreements in this market when Bitcoin (BTC) has done nothing but follow the previous cycle the whole time. There have been confusions regarding what part of the cycle we had been at during different times, but every now and then it becomes quite clear. This time, BTC/USD has run into the 21 Month EMA just like it did in July, 2015. Also, just like in July, the price has pierced through a long term trend line resistance. Bitcoin (BTC) has also closed above the 200 day moving average which means...

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The Bitcoin Debate: Why Coinbase Didn’t Choose BTC Over XRP

One of the biggest crypto exchanges in the United States has recently announced its new cross-border cryptocurrency payment platform that is to use XRP & USDC which will be converted to support local currencies. So this has raised a lot of question as to why Coinbase decided to work with XRP and not, the currently surging cryptocurrency, Bitcoin. The Bitcoin Debate So maybe XRP is just better than Bitcoin? A controversial comment for sure but as some people have claimed in the past, did Ripple bribe Coinbase for its listing on the platform? I mean, the odds of this are...

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Is A Bull Market On Its Way?

Bitcoin has recently made some very impressive gains over the past few days with the price now touching the $5,000 mark whilst the market cap had increased by $20 billion in around an hour. Over the past month, the valuation of the crypto market surged up by more than $40 billion due to the strong performance of cryptocurrency assets and alternative cryptocurrencies. How long will it last? So how long will Bitcoin continue to make gains? The almost overnight rally of cryptocurrencies is said to been mainly triggered by the liquidation of short contracts worth over $500 million. when you...

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