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Sally Ho's Technical Analysis 17 April 2019

Bitcoin Bitcoin (BTC/USD) notched solid gains during the Asian session, reaching the 5272.32 level before some profit-taking emerged. This was the pair’s strongest print since 10 April and minor Stops were reached just above the 5264.14 level, representing the 61.8% retracement of the move from 5280.72 to 4901.99, and an area that we spotlighted in our 15 April 2019 analysis.  Follow-through buying pressure could see BTC/USD take a run at 5349.70, representing the 76.4% retracement of the same range. As we reported in our 16 April 2019 analysis, the pair found a Bid during yesterday’s North American session around the...

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Litecoin’s Gets a Confidence Boost as Hash Rate Hits Record High

Litecoin is one of the most popular cryptocurrencies in the industry and over the past two years, we have seen a rapid increase in the hash rate of the Litecoin blockchain network, which represents computing power that protects the protocol. Specifically, this quick increase comes with the strong performance of Litecoin over the past few months. Even though the significant increase in the hash rate of any blockchain network is generally considered a positive indicator of confidence, arguments are commonly made that improvements in hardware and mining equipment can lead the hash rate to rise. The recent surge in the...

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Sally Ho's Technical Analysis 16th April 2019

Bitcoin Bitcoin (BTC/USD) found a Bid early in the Asian session but only after the pair fell to the 4945.54 level during yesterday’s North American session, its weakest print since 11 April.  Stops were elected below the 4970.67 area during the descent, representing the 76.4% retracement of the move from 4901.99 to 5193.01. During today’s climb higher from multi-day lows, BTC/USD found a Bid around the 5013.16 area, representing the 61.8% retracement of the aforementioned range. Chartists are eyeing the 5081.84 area as the pair’s next upside target. Other minor retracement levels including 5098.48/ 5134.61 related to yesterday’s depreciation from...

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Sally Ho's Technical Analysis 15th April 2019

Bitcoin Bitcoin (BTC/USD) scored strong gains during today’s Asian session, rocketing to the 5191.19 level. In our 14 April 2019 analysis, we identified the 50-bar MA (4-hourly) as technical Resistance and strong Stops were elected above the 5137.67 area after traders tested this key area.  The pair reached the 5191.19 level, just below the 50% retracement of the 5488.00 – 4901.99 range. Additional Stops were elected above the 5125.85 area, representing the 38.2% retracement of the same range. Notably, there were some early indications during the Asian session that BTC/USD was trying to derive technical Support at the 50-bar MA...

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Sally Ho's Technical Analysis 14 April 2019

Bitcoin (BTC/USD) continued to orbit a key technical level during the Asian session today, with the pair dancing around the 5079.35 level, representing the 50% retracement of the move from 4670.69 to 5488.00. As with many assets in the cryptocurrency complex, BTC/USD fell sharply during yesterday’s European session with no discernible technical explanation as to why.The 5125.85 has also remained toppish since 11 April, representing the 38.2% retracement of the 5488.00 – 4901.99 range as noted in our 13 April 2019 analysis. The 50-bar MA (4-hourly) has also prevented BTC/USD from drifting too far above. During the past day, price...

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