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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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Bitcoin (BTC) Bulls Lose Momentum

Bitcoin has lost the bullish momentum it had garner the past few days. The bulls appear weak at the momentum and we have just seen the S&P 500 (SPX) break below a key trend line support. This is not good for the bullish case and for that reason we are now out of our long positions. We would be waiting for market conditions to change before we enter further positions. So far, we do not have a decisive move in either direction.   The sideways movement for now in BTC/USD indicates that the market might not do anything of consequence...

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Bitcoin Rises to a New Monthly High

Roughly $3 billion were injected into Bitcoin between July 21st and 22nd. The massive capital inflow was significant enough to allow its price to surge by more than 4%. The flagship cryptocurrency went from trading at a low of $9,161.28 to a high of $9,543.  On Thursday, July 23rd, the bullish price action resumed as demand for BTC continued to rise. The pioneer cryptocurrency opened the day at $9,518.25 and entered a narrow consolidation period that lasted until 15:00 UTC. At this point, the bulls stepped back in and injected another $1 billion into Bitcoin.  The substantial buying pressure was...

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Textbook BTC/USD Technical Trading Leads to July High: Sally Ho's Technical Analysis 24 July 2020 BTC

Bitcoin (BTC/USD) evidenced some improved sentiment early in today’s Asian session as the pair attempted to sustain recent gains above the psychologically-important 9500 level.  Stong upward momentum lifted the pair to the 9567.77 area during yesterday’s Asian session, its strongest print since late June.  Stops were elected above the 9449.35 area during the ascent, representing the 38.2% retracement of the recent appreciating range from 8095.01 to 9792.00.   Notably, decent buying power emerged around this level during yesterday’s North American session, and initially pushed BTC/USD to the 9592.71 area, just above the 9582.92 area that represents the 78.6% retracement of the...

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Bitcoin Bulls Rock The Market

Bitcoin bulls have pulled it off again and the price is now in the $9.5k region having successfully hit our previously anticipated target. Just when the majority of retail traders were expecting BTC/USD to go down, it shot up and liquidated many shorts along the way. The bulls are still not backing down just yet. If other major markets continue to share a bullish outlook, we could see another pump in Bitcoin. There is no denying that the larger trend is bearish and Bitcoin and the rest of the crypto market is primed for major correction after this bullish move...

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