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BTC/USD Traders Test 9303.51 Resistance: Sally Ho's Technical Analysis 2 July 2020 BTC

Bitcoin (BTC/USD) appreciated early in today’s Asian session as traders awaited fresh market sentiment to determine if the pair would begin July with a bullish or bearish market direction. Traders lifted the pair to the 9297.20 area, testing the 9303.51 area that represents the 50% retracement of the recent depreciation from 9792.00 to 8815.01.  Short-term technical support has recently been concentrated around the 9075.65 and 9137.22 areas, representing the 38.2% and 23.6% retracements of the recent appreciation from 8815.01 to 9236.75.  Traders are also observing the recent depreciating range from 10428.00 to 8815.01, with the 9195.68 area representing the 23.6%...

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Major Markets Spell Trouble For Bitcoin

Bitcoin price action will continue to be boring for the next few days. Until we have a retest of the top of the symmetrical triangle, BTC/USD will continue to linger on and slowly make its way towards the retest. However, this is a time to look at the big picture and see what we can expect next and how to be best prepared for the next big move which we are very close to. The S&P 500 (SPX) is currently at a similar point where we are looking for near-term upside. However, both the stock market and the cryptocurrency market...

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Will 2020’s third-quarter be different for BTC?

During the second quarter of 2020, the leading cryptocurrency has been performing relatively well.  During this time, bitcoin gained 50% even though it was unable to consistently stay above the $10,000 key resistance level.  During the second quarter of 2020, the leading cryptocurrency has been performing relatively well. During this time, bitcoin gained 50% even though it was unable to consistently stay above the $10,000 key resistance level.  As we go into the third quarter of this year, many experts throughout the industry are making predictions on a potential correction and the possibility of less impressive performances from the leading...

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BTC/USD Ends June Down More Than 4%: Sally Ho's Technical Analysis 1 July 2020 BTC

Bitcoin (BTC/USD) attempted to resume some recent upward pressure above the 9000 figure early in today’s Asian session as traders awaited additional clues regarding market sentiment.  During yesterday’s Asian session, the pair escalated higher and tested the 9236.75 area, powered by bids that emerged around the 9014.00 level, right around the 78.6% retracement of the recent appreciation from 8632.93 to 10428.00.  Traders are paying attention to the recent depreciating range from 10428.00 to 8815.01, with the 9195.68 area representing the 23.6% retracement of this range and an important area that BTC/USD bulls will need to build upon if they are...

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Bitcoin Mining: How Energy Prices are Impacting Mining

Both 2018 and 2019 have been well known in the space and for a lot of reasons. The whole mining industry nearly stopped in 2018 because of multiple different factors. Both 2018 and 2019 have been well known in the space, and for a lot of reasons. The incredible crypto highs and depressing crypto lows are just a few of the reasons.  One thing that has remained consistent through the years though, is the fall in the profitability of Bitcoin mining. The whole mining industry nearly stopped in 2018 because of multiple different factors.  So with this all in mind,...

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