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Sally Ho's Technical Analysis 4 May 2019

Bitcoin Bitcoin (BTC/USD) added to recent gains during today’s Asian session after establishing a new 2019 high and reaching its strongest level since 14 November 2018. Technical clues continued to emerge as buying continues to take place at key technical levels including the 5621.70 level during yesterday’s price activity, just below the 23.6% retracement of the move from 5072.01 to 5796.93. Additionally, buying pressure was seen today around the 5650.01 area, representing a previous relative high from 23 April 2019.Traders tested the 5769.98 area for the first time since the level became technically relevant, as it represents the 61.8% of...

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Stellar Lumens (XLM) Caught Between Rock And A Hard Place

Stellar Lumens (XLM) is caught between rock and a hard place. The cryptocurrency is lagging behind even Ethereum (ETH) while Bitcoin (BTC) is up more than 6%. XLM/USD ran into the 21 day EMA and faced a strong rejection. It rallied after find a strong support atop the 61.8% Fib extension level. The price was stopped on the way towards a retest of the 38.2% fib level. This has put Stellar (XLM) in a difficult situation and it is not clear yet which way the price will swing. Even if it breaks above the 21 day EMA, it is still...

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Fidelity Research Suggests Institutional Investment will Increase Over Next 5 Years

Over the next five years, institutional investment in cryptocurrency is expected to increase according to recent research from Fidelity Investments. Fidelity has surveyed more than 440 institutional investors including pensions, hedge funds and endowments to see their investment outlook for Bitcoin and other cryptocurrencies. The world’s fifth-biggest asset manager, Fidelity has $2.5 trillion in assets under management. Yesterday, (May 2nd) the firm released research which surveyed 441 institutional investors from the United States in order to see how they view cryptocurrency. Investment If we look at the results of the survey, we can see that 22 percent of the respondents...

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Ethereum (ETH) Runs Into Strong Resistance Zone, Sharp Pullback Likely

Ethereum (ETH) has just run into a confluence of strong resistance zones. The price has now tested a strong trend line resistance and faced a rejection at it. ETH/USD has now retraced below the 38.2% Fib extension level. If the price closely below this level, we could see a bearish follow up in the days and weeks ahead as ETH/USD has now tested the trend line resistance and is ready to decline to the bottom of the descending triangle. The price would be at risk of breaking both the rising wedge as well as the descending triangle during the next...

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Weekly Roundup: Exciting DOGE, XRP & LTC News

It’s been another exciting week for the cryptocurrency space. A lot of news came out this week but we’re going to go through some of the best that it had to offer. So today, we’re going to go through the Dogecoin support that was recently announced for the Coinbase wallet. On top of this, we’re going to look at the recent partnership Ripple has made and what the creator of Litecoin, Charlie Lee had to say on the LTC project. Coinbase & Dogecoin One of the biggest cryptocurrency exchanges in the world, Coinbase announced earlier in the week that the...

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