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Ethereum (ETH) Shorts Decline To New All-Time Low, Price Remains Overbought

Ethereum (ETH) margined shorts have now declined to a new all-time low as the bearish resolve continues to weaken after the series of pumps that saw ETH/USD rally during the past few days. Professional traders are looking for entries to short but the daily chart for ETHUSDShorts shows that retail bears are so scared that the number of margined shorts had to drop to a new all-time low on Bitfinex. The Stochastic RSI for ETHUSDShorts points to a trend reversal in the days ahead. The number of margined shorts has declined within a falling wedge which is expected to break...

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Ethereum (ETH) Very Likely To See A Double Digit Price In The Weeks Ahead

Bitcoin (BTC) is overbought on the weekly time frame but not as overbought as Ethereum (ETH). The 1H chart for ETH/USD shows that the price has been repeatedly testing the support it dropped below yesterday as a strong resistance now. This resistance has very low odds of being breached especially when the Stochastic RSI on the 1H timeframe is this overbought. The trend line support that extends back to since the beginning of this rally remains a strong support so far but it is not likely to hold during the next crash. The S&P 500 is at a very vulnerable...

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Ethereum (ETH) Primed For Major Decline After Yesterday’s Bearish Close

Ethereum (ETH) is primed for a major decline after the price closed below the 200 Day EMA yesterday. This is a very bearish development for ETH/USD considering the price is already struggling to break past the strong resistance at $182. Now that the price has plunged below the $163.84 level, it is on the verge of major decline if it fails to break out by the end of the week. There is not much Ethereum (ETH) could do at this point as the odds are against it. The Stochastic RSI has topped out on the daily time frame and it...

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Sally Ho's Technical Analysis 4th April 2019

Bitcoin Bitcoin (BTC/USD) reached a key upside price objective early in the Asian session when 5265.70 was reached, representing the 50% retracement of the 7402.50 – 3128.89 range. Stops were triggered and pushed the pair as high as the 5345.00 figure before profit-taking knocked the pair lower to the 4787.11 level, just above the 4761.41 area, representing the 38.2% retracement of the same range. Today’s intraday high represents BTC/USD’s Highest level since 19 November 2018. Chartists are eyeing the 5403.82 level, representing the 61.8% retracement of the 6810.00 – 3128.89 range. Technical Support is expected around 4393.64/ 4137.46/ 3997.63 with...

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Ethereum (ETH) Runs Into Resistance, Price Remains Heavily Overbought

Ethereum (ETH) just keeps surging with no signs of slowing down despite ETH/USD being heavily overbought on the weekly time frame. Ethereum (ETH) is far ahead of Bitcoin (BTC) and is currently testing the market structure that it broke in November, 2018. This level that used to be a strong support has now turned into a strong resistance and the price is unlikely to break past it. We may see some wicks to the upside but the weekly candle is extremely unlikely to close above this level. The price is due for a major decline in the weeks ahead and...

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