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9490.31 a Big Test for BTC/USD: Sally Ho's Technical Analysis 23 June 2020 BTC

Bitcoin (BTC/USD) attempted to sustain upward momentum in today’s Asian session as traders saw improving short-term market sentiment after decent buying pressure emerged around the 9262.73 area during yesterday’s Asian session. Notably, the upward activity emerged just above the 23.6% retracement of the recent depreciating range from 9592.04 to 9161.00.  Stops were elected above the 9325.66, 9376.52, and 9427.38 levels, representing the 38.2%, 50%, and 61.8% retracements of the depreciating range.  The next upside retracement level for this depreciating range is the 9490.31 area, representing the 76.4% retracement.  Traders have recently been unable to keep the pair above the 9530.47...

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Bitcoin Is All Set To Crash Again!

Bitcoin is ready to crash again now that we have seen a final retest of the trend line resistance. The 1H chart for BTC/USD shows that the price action is weak and there isn’t much bullish momentum for anything of consequence at this point. The most probable scenario is the beginning of a major downtrend from this point forward once the ongoing move is complete. As we have discussed in our prior analyses, this is the last bullish move before the major downtrend formally begins. The price of Bitcoin has already entered a downtrend but as we know from the...

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Weiss crypto rating platform predict BTC to hit $180,000: but how could this happen?

Weiss Cryptocurrency rating platform recently predicted that bitcoin could trade near $180,000 if it can capture only a third of the Safehaven business from gold.  But how could this happen? The well respected Weiss Cryptocurrency rating platform has recently predicted that bitcoin could trade near $180,000 if the leading cryptocurrency can capture only a third of the Safehaven business from gold. That price figure is currently 20 times what the leading crypto is currently worth but the platform has said that this could happen within the next decade. But how could this happen? Weiss believes that demand is what will...

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Novogratz: As Jay Clayton leaves the SEC, a bitcoin ETF has a higher chance of approval

Jay Clayton recently announced that he will be leaving the SEC and as this news took flight, Novogratz has said that this will be good for cryptocurrency. Since Clayton became the chairman of the SEC in May 2017, there have been numerous applications that have been submitted for an ETF. The chairman of the securities and exchange commission in the United States, Jay Clayton recently announced that he will be leaving the commission and as this news took flight, the founder and CEO of galaxy digital, Michael Novogratz has said that this will be good for the flagship cryptocurrency. In...

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BTC/USD Fails to Test 9427.54: Sally Ho's Technical Analysis 22 June 2020 BTC

Bitcoin (BTC/USD) was pressured lower early in today’s Asian session as the pair continued to exhibit weakness below the 9500 figure after peaking around the 9419.35 area during yesterday’s European session.  Notably, this level was just below the 23.6% retracement of the recent appreciation from 8895.01 to 9592.04.  Technical bids then supported the pair above the 9325.77 level, representing the 38.2% retracement of this appreciating range.  Traders recently were able to drive the pair higher to these levels after testing the 9161.00 level, just below the 61.8% retracement of the recent appreciation from 8895.01 to 9592.04.  If BTC/USD bears are...

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