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Sally Ho's Technical Analysis 22 April 2019

Bitcoin Bitcoin (BTC/USD) appreciated early in the Asian session as the pair moved to the 5313.51 area after finding some demand around 5233.14. Notably, the pair continues to orbit the 5264.14 area, representing the 61.8% retracement of the 5488.00 – 4901.99 range, and has generally been Given around the 5349.80 area, representing the 76.4% retracement of the same range. Similarly, we have written extensively about the 5265.70 area that represents the 50% retracement of the 7402.50 – 3128.89 area. The 50-bar MA (4-hourly) continues to approach price activity, calling into question whether BTC/USD can establish a technical base around this...

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Can Ethereum (ETH) And Most ERC20 Tokens Survive The Next Crash?

Ethereum (ETH) is on the verge of its biggest sell-off in months. The price has run now run into a confluence of strong resistances. ETH/USD has already faced rejection at the trend line resistance for three weeks now. The horizontal resistance at $193.64 is a strong support turned resistance that has close to zero probability of being breached at this point. That being, said traders must account for all such possibilities when entering a short position. Now, the fact of the matter is that even bullish analysts and traders who think the price has already bottomed are also expecting a...

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Sally Ho's Technical Analysis 21 April 2019

Bitcoin Bitcoin (BTC/USD) weakened early in the Asian session to test an important level, trading as low as the 5260.64 area, just below the 5265.70 area that represents the 50% retracement of the 7402.50 – 3128.89 area. We have written about the significance of this level extensively, including in our 20 April 2019 analysis. Traders are curious to see if BTC/USD again challenges the 5349.70 area, representing the 76.4% retracement of the 5488.00 – 4901.99 range. Above this area, the 5403.82 level represents the 61.8% retracement of the move from 6810.00 to 3128.89. As noted yesterday, technicians are eager to...

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Sally Ho's Technical Analysis 20 April 2019

Bitcoin Bitcoin (BTC/USD) extended recent gains as the pair tested a key area of technical Resistance, consolidated gains, and then found additional Bids. Traders tested the 5349.70 area, representing the 76.4% retracement of the 5488.00 – 4901.99 range and an upside target that we identified in our 19 April 2019 analysis. Profit-taking then pushed the pair below another key technical area, the 5265.70 area, representing the 50% retracement of the 7402.50 – 3128.89 area. Chartists are eager to see if BTC/USD can establish a supportive base around the 5265 – 5195 range in an attempt to test some additional technical...

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Ethereum (ETH): Why It May Not Be A Good Time To Go Short Just Yet

Ethereum (ETH) is trading within a large bear pennant that can also be considered a symmetrical triangle. In the past few weeks, ETH/USD broke one such pennant to the upside and the price pumped hard in the weeks that followed. It is once again on the verge of a breakout and technical indicators suggest that we could see a fake out this time. RSI on the daily time frame has bounced off after finding a strong trend line support. The Stochastic RSI has plenty of room to go up as it is near oversold territory. This means that the least...

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