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Why Ethereum (ETH) Price Manipulation Might End Badly For Retail Traders

Ethereum (ETH) is subject to price manipulation like most tradable financial assets. A smaller market cap, low volume and lack of regulations make it a bit easier. During the past few days, ETH/USD has been of the biggest beneficiaries of the pumps that have returned bullish euphoria to the market despite heavily overbought conditions. The price closed below the 200 Day EMA yesterday and is still trading below that level after a sharp pullback. However, most analysts and traders are still expecting a rally towards $200 or higher levels which could very well happen. No matter how overbought an asset...

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Sally Ho's Technical Analysis 8th April

Bitcoin Bitcoin (BTC/USD) extended its recent surge higher, testing the 5352.50 level early in the Asian session before profit-taking emerged after the pair reached its highest level since 19 November 2018. Trading over the past several days has been very technically-driven. As noted in our 7 April 2019 analysis, the 5244.04 area remains a key technical level, representing the 50% retracement of the 7402.50 – 3128.89 range, and traders were able to elect Stops above this area. During the pullback, Bids emerged just below the 5176.07 area, representing the 38.2% retracement of the 8488.00 – 3128.89 range, a key level...

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Sally Ho's Technical Analysis 7th April 2019

Bitcoin (BTC/USD) pushed higher during yesterday’s European session before weaker Longs exited their trades early in today’s Asian session.  BTC/USD reached 5244.04 before coming off, representing the 50% retracement of the 7402.50 – 3128.89 range. During the pullback, traders tested the 5176.07 level, representing the 38.2% retracement of the 8488.00 – 3128.89 range. Bids emerged just ahead of the 4911.81 area, representing the 23.6% retracement of the move from 5345.00 – 4778.00 range. Additional Buying pressure will spotlight key upside price objectives including 5733.84/ 5941.26/ 6393.93. Price activity is nearest the 50-bar MA (4-hourly) at 4602.00 and the 50-bar MA...

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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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