Today's Hot Topics

Sally Ho's Technical Analysis 17 May 2019

Bitcoin Bitcoin (BTC/USD) showed some signs of weakness during today’s Asian session as traders drove the pair back around the 7764.19 level, representing the 38.2% retracement of the recent move from 6755.00 to 8388.00.  Late in yesterday’s North American session, the pair fell below the 7709.26 area, representing the 23.6% retracement of the 5512.00 – 8388.00 range.  Another key level that traders are watching is 7598.36, representing the 61.8% retracement of the absolutely lifetime range of BTC/USD. Notably, the pair is now trading below its 50-bar MA (hourly) which is now around 8007.14 and has just moved below its 100-bar...

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Bitcoin (BTC) Shorts Fall More Than 38% In A Day But Price Continues To Fall

Bitcoin (BTC)’s desperate buying frenzy seems to have come to an end as institutional investors that pumped the price begin to take profit. Retail bulls are still expecting a rally to $10,000 and the whales know that which means it is very unlikely to happen. The daily chart for BTC/USD shows the weakness in the price action as the rally has come to a halt after a parabolic run up. This rally is now very similar to the parabolic rally we saw during 2017-18. We all know how that turned out so there is no reason to assume otherwise in...

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Microsoft’s New Project Ventures into Bitcoin’s Blockchain

It’s almost an obsession at this point that Microsoft has with new technologies and blockchain is no exception. Just days after Microsoft announced its Azure Blockchain Service, it has moved onto yet another new project. Yes, it seems that Bill Gate’s giant company has revealed that it is creating a decentralised identity network (DID) which is being done thanks to the Bitcoin blockchain. This is known as the most trustworthy blockchain in the ecosystem. Through the Blockchain based DID, Microsoft is willing to let go of its software users login details. The new system running on Bitcoin’s parent blockchain will...

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Max Keiser Still Believes in $100k Bitcoin

The face and host of the Keiser Report and a proponent of Bitcoin, Max Keiser has said that he still reckons BTC could reach $100k and that the long-term factors and upcoming monetary policies point to such a value. As a guest of Kitco News, Keiser spoke on the matter and the fact that Bitcoin is a good choice as a store of value for investors. It isn’t uncommon to hear Bitcoin classed as ‘digital gold’ for the fact that it possesses the qualities of gold with the addition of multiple other benefits. Keiser said: “To capture a piece of...

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Sally Ho's Technical Analysis 16 May 2019

Bitcoin Bitcoin (BTC/USD) expanded recent gains during today’s Asian session, reaching the 8269.69 level after finding some Bids late during yesterday’s European session. The pair generally stayed Bid during yesterday’s North American session and Stops were elected above the 8172.02 area, representing the 76.4% retracement of the move from 8350.00 to 7621.27. Traders continue to speculate whether BTC/USD will explode higher to fresh multi-month highs or whether it will instead consolidate recent gains. The pair continues to tightly hug its 50-bar MA (hourly). Above current price activity, the 9532.02 area is an upside target and it represents the 38.2% retracement...

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