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Sally Ho's Technical Analysis 4 June 2019

Bitcoin Bitcoin (BTC/USD) depreciated sharply early in today’s Asian session, declining to the 7700.00 area after being unable to climb above the 8588.66 area during yesterday’s North American session.  Yesterday’s selloff commenced during the Asian session and BTC/USD quickly weakened from the 8695.21 area during yesterday’s European session. Traders tested the 8338.78 area, representing the 76.4% retracement of the move from 9948.12 to 3128.89, and that level eventually gave way, resulting in Stops being elected below the 100-bar MA (4-hourly). Stops were then triggered below the 8087.05 area late in yesterday’s North American session, representing the 61.8% retracement of the...

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Litecoin (LTC) Holds Ground Above 50 Day EMA, But Price Remains Vulnerable

Litecoin (LTC) has done well to defend the 50 day exponential moving average trading against Bitcoin (BTC). For the past seven days, LTC/BTC has remained above this level but now it is running out of room to hold this level. Either it will have to break past the strong trend line resistance of the descending channel or it will have to fall towards the bottom of this channel. So far, considering that LTC/BTC is already heavily overbought as shown by the RSI and Stochastic indicators, the probability of a decline far outweighs the probability of a break out of the...

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New Social Media Platform to be Launched on EOS by Block.one

Block.one is getting ready to launch a new social media network which is set to be called Voice. The platform is set to be built on the public blockchain, EOS so corporate controls will be mute. The development team says that content creation will be fully transparent and that the new social network will avoid the types of pitfalls that have made users and government officials concerned about Facebook. In an official announcement it says: “Voice is a more transparent social media platform for the world, where the value of good content gets circulated right back into sustaining the community,...

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Charles Hoskinson Pushing Direction for Shelley Launch

The smart contract blockchain project that is Cardano has been seemingly down over the past few weeks with the delay in rehearsing the highly anticipated mainnet ‘Shelley’. This delay has caused concern within the crypto community in regards to the viability of the project. Even so, this could be about to change thanks to a recent announcement by the Cardano CEO Charles Hoskinson. Hoskinson has taken to Twitter to say that Cardano is getting ready for the self-node testnet which is expected to be released in a couple of weeks time. Getting ready for the self-node testnet https://t.co/fi7LZgMmaEAnd https://t.co/beStvLEDQH are...

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Ethereum (ETH) Closes The Week Forming A Doji As Bears Regain Control

Ethereum (ETH) bears have regained control as the price has demonstrated serious weakness to break past the trend line resistance. The weekly chart for ETH/USD shows that both the RSI and Stochastic indicators are now flashing big warning signals as the price has reached overbought levels. The only thing holding the price from a massive decline at the moment is the 50 week exponential moving average. Soon as the price declines below this level, we could see it drop to double digits in no time. Short term, we could see ETH/USD attempt a break out of the descending triangle but...

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