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Bitcoin Eyes $13,800 As Gold Hits All-Time High

After wandering at $9,200-$9,500 zone for a month, Bitcoin gained over 5% during the weekend. Currently, Bitcoin is consolidating above $10,000, with hopes to test the $10,500 mark. According to Rob Sluymer, technical strategist at Fundstrat Global Advisors LLC, the $10,500 mark "remains a resistance band that Bitcoin will need to break above to signal its next move to resistance at $13,800." The upsurge of Bitcoin could be attributed to the bull run of gold. Since the beginning of 2020, Bitcoin has shown an uncanny correlation with gold. For the past week, the market has witnessed a gold rush with...

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BTC/USD Rockets to Highest Print Since June: Sally Ho's Technical Analysis 27 July 2020 BTC

Bitcoin (BTC/USD) remained on the offensive early in today’s Asian session as traders continued to observe the psychologically-important 10000 figure following the pair’s rampage higher to the 10150.00 area during yesterday’s European session, its strongest print since early June.  Traders finally encountered technical resistance just below the 10154.71 area, representing the 76.4% retracement of a previous depreciating range from 10428.00 to 9270.00.  Above that area, the 10180.19 area represents the 78.6% retracement of the same depreciating range.  If BTC/USD bulls are able to resume their upward trajectory, traders will pay close attention to additional technical resistance that is likely in...

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9750.51 Looms Large for BTC/USD Bulls: Sally Ho's Technical Analysis 26 July 2020 BTC

Bitcoin (BTC/USD) added to its recent positive market bias early in today’s Asian session as traders continued to seek buying opportunities above the psychologically-important 9500 level after trading as high as the 9686 area late last week.  Some traders are beginning to focus on the psychologically-important 10000 figure but BTC/USD has some significant technical resistance to move above before this area comes into view.  One area of probable technical resistance is around the 9735.06 – 9761.54 range, representing the 76.4% and 78.6% retracements of the recent depreciation from 10019.12 to 8815.46.  Likewise, the 9811.84 area is another level of technical...

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CZ talks on bitcoins volatility commenting on its recent stable state

CZ has recently spoken on the stability of the leading crypto but isn’t confident on what will cause bitcoin to spark in price.  Speaking in an interview last weekend, CZ made a comment on the record low volatility of bitcoin.  The chief executive officer of the Binance crypto platform, CZ has recently spoken on the stability of the leading cryptocurrency but went on to add that he isn’t confident on what will cause bitcoin to spark in price.  Speaking in an interview last weekend on the 19th of July with Bloomberg daybreak, CZ made a comment on the record low...

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10000 or 9000 Next for BTC/USD? Sally Ho's Technical Analysis 25 July 2020 BTC

Bitcoin (BTC/USD) fought to maintain its recent bid early in today’s Asian session as the pair continued to orbit the psychologically-important 9500 level after trading as high as the 9686 area early in yesterday’s Asian session.  Stops were elected above the 9582.92 area during the ascent, representing the 78.6% retracement of the depreciating range from 9792 to 8815.01.  Additional Stops were elected above the 9621.51 area, representing the 50% retracement of the depreciating range from 10428 to 8815.01.  Some important technical levels that represent possible upside price resistance include the 9792.00, 9811.84, 9836.99, 9880.17, 9943.93, and 9957.25 levels.  Following the...

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