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Sally Ho's Technical Analysis 15 October 2019

Bitcoin Bitcoin (BTC/USD) was slightly weaker  early in today’s Asian session as the pair moved to the 8328.81 level after trading as high as the 8420.00 area late in yesterday’s North American session.  Some traders have reevaluated market sentiment following the rapid sell-off early in yesterday’s Asian session that saw a plunge from the 8446.03 level to the 8146.47 area in just a few minutes.  Technical Bids emerged to protect the 8130.75 area, representing the 61.8% retracement of the move from 7701.00 to 8826.00.  Below that area, the 7966.50 area represents the 76.4% retracement of the same range.  If a...

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Sally Ho's Technical Analysis 14 October 2019

Bitcoin Bitcoin (BTC/USD) recovered early in today’s Asian session after a major depreciation saw the pair decline rapidly from the 8446.03 level and test the 8146.07 area. Stops were elected below the 8282.15 area during the sharp move lower, a level that represents the 61.8% retracement of the 8419.95 – 8059.22 range. The pair had been relatively muted following the pair’s spike higher to the 8826.00 level on 11 October, a move that saw Stops elected above the 8692.32 area, representing the 76.4% retracement of the move from 8995.00 to 7712.45.  Thereafter, the market receded to the 8226.00 area, deriving...

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Ethereum (ETH) All Set To Begin Its Next Downtrend

Ethereum (ETH) has just run into the 50 EMA on the 1H time frame and with that it seems to have run out of room for further upside as the RSI points to a clear downtrend that ETH/USD is very unlikely to break out of at this point. The 1H chart for ETH/USD also shows how Ethereum (ETH) faced a rejection once at the 50 EMA before and declined to a trend line resistance turned support. Something similar is likely to happen this time as the RSI has faced rejection whereas the Stochastic RSI has reached overbought conditions. Meanwhile, the...

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Sally Ho's Technical Analysis 12 October 2019

Bitcoin Bitcoin (BTC/USD) was slightly weaker early in today’s Asian session after the pair traded as low as the 8226.00 area late in yesterday’s North American session. Market sentiment improved this week after traders lifted the pair back above the 8000 figure to its strongest level since 24 September following BTC/USD’s acute decline below the psychologically-important 10000 figure. The pair spiked to the 8826.00 level during yesterday’s European session after Stops were elected above the 8692.32 area.  One indication of improved sentiment this week emerged when buying pressure kept the pair above the 8473.75 area, representing the 23.6% retracement of...

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Ethereum (ETH) May See Further Upside Before The Most Anticipated Downtrend

Ethereum (ETH) made a strong move to the upside past the 61.8% fib retracement level but it turned out to be a fake move and a lot of sell orders were triggered at that level which eventually led to a long doubled edged red candle that saw the price decline to the 50 EMA on the 4H time frame for ETH/USD. In my opinion, we are likely to see some relief here and potentially a retest of the 61.8% fib retracement level before further downside can follow. RSI on the 4H chart for ETH/USD also points to the possibility of...

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