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Ethereum (ETH) Has Formed A Massive Bear Flag, Here Is What It Means

Ethereum (ETH) has just begun its decline after testing the top of the ascending channel at around $263. If the price were to fall to the bottom of the channel, we could see ETH/USD plunge below $200 but that’s not all. In fact, ETH/USD has now formed a massive bear flag that could end really badly. This bear flag is like a ticking time bomb waiting to take Ethereum (ETH) down sooner or later. RSI is still hovering around overbought levels and the ADX and DI indicator points to near term bearish outlook. We have mentioned in our previous analyses...

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Sally Ho's Technical Analysis 20 May 2019

Bitcoin Bitcoin (BTC/USD) encountered some profit-taking early in the Asian session after being lifted to the 8315.00 area late in yesterday’s North American session, just below the 76.4% retracement of the move from 9948.12 to 3128.89. The pair then traded as low as the 7800.00 figure early in the Asian session. Both 8186 and 8210 represented short-term upside price objectives following yesterday’s price activity and Stops were elected above both of those areas, pushing the pair close to fresh multi-month highs and to levels that preceded the massive sell-off late last week. Chartists are again focusing on important levels of...

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Sally Ho's Technical Analysis 19 May 2019

Bitcoin Bitcoin (BTC/USD) found some buying pressure early in today’s Asian session and lifted higher to the 7578.75 area, not too far below the 50-bar MA (4-hourly). During yesterday’s European session, the 50-bar MA (4-hourly) was toppish for several hours and then traders were unable to move the price above the same barrier during the North American session. The pair is still trying to claw back the losses it incurred following its sharp move lower two days ago. Above current price activity, the 7709.26 area is a key level that traders continue to focus on, representing the 23.6% retracement of...

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Ethereum (ETH) All Set To Decline Below $200 As Price Tops Out

Ethereum (ETH) recently saw a strong rejection at the $270 resistance level and has now begun its decline towards the bottom of the ascending channel it has been trading in. The price did manage to rise above the $270 mark but it failed to close above it. That being said, it did close above the 1.272 Fibonacci retracement level which was a false bullish signal as the price declined below that level and managed to close below the 1.272 Fib retracement level the next day. ETH/USD flash crashed to $223 but bounced strongly off it. However, that did not stop...

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Sally Ho's Technical Analysis 18 May 2019

Bitcoin Bitcoin (BTC/USD) gained marginal ground early in today’s Asian session and traded as high as the 7441.66 level, having orbited its 50-bar MA (4-hourly) since early yesterday. Traders are still discussing yesterday’s so-called flash crash that saw the price dive to the 6600.00 figure after many Stops were elected on the way down. BTC/USD came off approximately US$ 1,340.75 in less than three hours and at one point fell US$ 1,000.00 in about eleven minutes. During the acute downturn, Stops were elected below the 6730.01 and 6677.81 areas, both of which represented retracement levels that easily gave way and...

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