Today's Hot Topics

Sally Ho's Technical Analysis 24 May 2019

Bitcoin Bitcoin (BTC/USD) extended gains early in today’s Asian session as traders pushed the pair to the 7984.90 area before some profit-taking emerged just below a retracement level that represents the 61.8% retracement of the move from 8315.00 to 7407.10. Buying activity started in earnest during yesterday’s European session when Bids emerged around the 7467.10 area, just above the 50% retracement of the move from 6600.00 to 8315.00. Stops were then elected above the 50-bar MA (4-hourly), then around 7770.80 and the 50-bar MA (4-hourly) then became supportive late in yesterday’s North American session. Traders are looking to see if...

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Litecoin (LTC) Might Be Days Away From A Massive Decline Below $80

Litecoin (LTC) has just tested a key support level again and is now likely to trade further within the descending triangle it has been trading in for the past two weeks. LTC/USD still has some room to trade sideways but it will have to break out of this triangle in the days ahead. If the price breaks below this triangle, it is likely to fall to the next support at $77. That support coincides with the 1.272 Fib extension level. If it fails to stop there, it will have to decline to $68.81. Either way, a fall below $80 is...

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Claims that Former TRON CTO Was Sacked for Bribery & Theft Surface

Earlier this month, the Chief Techincal Officer of TRON, Lucien Chen announced his departure from the project. He had been with TRON since 2017 and laid out a three-point explanation as to why TRON just isn’t TRON anymore. Following the announcement by Chen, the TRON PR sprung into action and according to the representatives from the project, Chen was actually sacked from his position months ago because: “Suspicion of misappropriation of funds, bribery, competitive infringement, and theft of trade secrets and intellectual property.” The CEO and founder of TRON, Justin Sun lent validation to this claim by retweeting it and...

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Over Usage Gives Binance Some Issues - Bull Run Around the Corner?

There’s been a lot of activity in the markets over the past week and this week is no exception. Specifically, there’s been higher activity in the market because the biggest exchange in the world, Binance recorded some massively big levels of order volumes on 22nd May. Altcoin activity Aside from the recent dump in the market, altcoins were making some big moves in the market. According to Changpeng Zhao (CEO of Binance), the exchange has been seeing a high number of orders as if it was the late-2017 bull run. CZ said in a tweet: “We are seeing much higher...

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Ethereum (ETH) Could Rise Above $250 Again Before The Next Decline

Ethereum (ETH) is currently trading around $235 as price declined significantly in the last 24 hours all the way from the top of the descending triangle seen on the 4H chart for ETH/USD. This decline seems to have made the bulls worried even though normally they are more interested in buying the dip. Retail bulls did buy the dip when the price made its first red candle to the downside. It left a long wick down but was soon followed by subsequent red candles that pushed the price deep into red. As of now, the price remains inside a descending...

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