Bitcoin Forum

Ether Downtrend Still in Force

The downtrend for ETH/BTC continues for another week. Right now the crypto is trading at 0.05492 per BTC, around 4 percent off the lows.

https://blog.fxopen.com/wp-content/uploads/2018/04/ETHBTCDaily-apr5-Copy-768x361.png

We’ve been mostly range-bound during the past few days but we’re still far from ending the bearish trend on the daily charts. For that to happen the bulls need to push us above the 0.06030 BTC swing high. Higher up a break above 0.072 BTC is needed to trigger a new uptrend.

Below current prices there’s major support in the 0.050 – 0.052 BTC area. A decisive break below the 0.05 round figure would exacerbate the losses for Ether. On the longer-term charts ETH/BTC is looking range-bound on the weeklies but bullish on the monthly charts.

Continue reading... (https://blog.fxopen.com/more-losses-for-ether-dash-2/)

Thank you for your efforts in coming up with this analysis.

I don't know if I should agree or disagree with you because in the past weeks (or even months), no one seems to be getting the prediction right anymore. The bearish market is making everyone look like noobs in the cryptospace. Technical analysis are good but it's still basically influenced by fundamental analysis.

Good analysis all the same. Let's hope that the market will agree with you on this in the coming weeks.

Even though the price is going down, it's creating the opportunity for the investor to buy bitcoin at a lower price and sell it when the price rises. The price will rise up very soon. Probably at the end of May, it'll start rising up. So, don't worry and hold your coins because the best is about to come.

Bitcoin Back in Range After Spike

Bitcoin prices surged from $6,859 to $8,069 dollars yesterday, a gain of 17.64 percent. We are currently quoted at $8,048 dollars per coin. But what’s even more astounding is that the spike happened during the span of forty minutes. No major news can be pinned to the sudden buying as of yet.

https://blog.fxopen.com/wp-content/uploads/2018/04/BTCUSDDaily-apr12-Copy-768x361.png

While the shocking gains today may tempt some to ‘FOMO‘ (http://www.dictionary.com/browse/fomo) back in, bitcoin is now only in a range on the daily charts. A new bullish trend requires a breakout above the $9,165 swing high. Below we find weaker resistance levels at $9,018 and $9,000 dollars. Above there’s the $10,000 round figure, an important psychological barrier. This is followed by more resistance at $10,680, $11,000 and $11,769 dollars.

On the way down there’s a strong area of support around $6,420 to $6,600 dollars. A clearing of this support and a move below $6,420 would re-start the downtrend in BTC/USD. Further down we have this year’s low at $5,980 dollars. A breakdown below here may lead to more losses. Lower still the area around the $5,000 round figure is another notable support. On the weekly charts bitcoin is also range-bound but the monthlies are keeping the bullish bias.

Read more... (https://blog.fxopen.com/bitcoin-altcoins-surge-higher/)

bitcoin price started rising and that meant altcoins should start their dumps more and as their value goes down against BTC the speed of it is not the same as bitcoin price rise which is why their USD value seemingly increases but the reality is that they are losing value.

at times like this investors are better off going back to bitcoin which is why the altcoins get dumped in first place.

No Follow-through for Bitcoin

Bitcoin prices are having a hard time making headway during the past five days. We saw a new high of $8,425 on Sunday but this was quickly sold into by the bears. We are currently quoted at $8,102 dollars.

https://blog.fxopen.com/wp-content/uploads/2018/04/BTCUSDDaily-apr17-Copy-768x361.png

Bitcoin is still in a range on the daily charts. To end it we need a breakout above $8,425 dollars to the upside. As usual we’re looking for a decisive breakout here not just a brief and shallow spike higher. Higher up there’s more resistance around the $9,000 round figure and the $9,165 swing high. Further up we have the $10,000 round figure, an important psychological barrier. This is followed by more resistance at $10,680, $11,000 and $11,769 dollars.

On the lower end the bears need a break of the support around the $6,420 swing low. A clearing of this strong support area would open the way for a break of this year’s low at $5,980 dollars per coin. On the longer-term weekly charts BTC/USD is range-bound as well. The monthly charts are still looking bullish.

Read LTC/USD here (https://blog.fxopen.com/bitcoin-struggles-to-continue-gains/).

Bitcoin Rally Continues

The rally in BTC/USD continues with more gains during the past few days. As noted previously, with the break above the $8,425 dollars swing high we’re back in a bull market on the daily charts.

https://blog.fxopen.com/wp-content/uploads/2018/04/BTCUSDDaily-apr24-Copy-768x361.png

There’s weak resistance higher up at $9,887 dollars followed by a stronger level at the $10,000 round figure, an important psychological barrier. This is followed by more resistance at $10,680, $11,000 and $11,769 dollars. Fundamentally no major news have been released to trigger the current bull market in cryptos. The several smaller news events have been both bullish and bearish for the price.

The current rally may end if we get a decisive break below the $7,821 swing low. A new bearish trend needs a break of the support around the $6,420 swing low. A clearing of this strong support area would open the way for a break of this year’s low at $5,980 dollars per coin. On the longer-term weekly charts BTC/USD is range-bound but the monthly charts are keeping the bullish bias.

Read about LTC/USD on FXOpen blog (https://blog.fxopen.com/bitcoin-litecoin-back-in-bull-market/).

More Gains for Bitcoin

Since last Tuesday bitcoin prices advanced by $439 dollars or almost 5 percent. Naturally the uptrend on the daily charts is still in place. To end it the bears will have to push us below the $8,650 swing low. A new downtrend requires a breakdown below the next swing low at $7,821 dollars per coin.

https://blog.fxopen.com/wp-content/uploads/2018/05/BTCUSDDaily-may3-Copy-768x361.png

Further down there’s strong support around the $6,420 swing low. A clearing of this strong support area would open the way for a break of this year’s low at $5,980 dollars per coin. Higher up there’s some resistance at the psychological $10,000 figure, followed by more resistance at $10,680, $11,000 and $11,769 dollars. On the weekly charts BTC/USD is range-bound but the monthly charts are still keeping the bullish bias.

Similarly to last week there have been no major news catalyst behind the moves. There has been some chatter (https://www.coindesk.com/china-national-radio-questions-legality-of-okex-bitcoin-futures-trading/) from China regarding the legality of some bitcoin trading platforms but so far there hasn’t been any fire, only smoke.

Read about LTC/USD here (https://blog.fxopen.com/more-gains-for-btcusd-and-ltcusd/).

Don’t know about the other crypto currencies because I use to invest my entire money into bitcoin only but I can say one say about bitcoin that finally the time has come when the valuation started pumping and in the last week it has inflated to 20% and thus again motivated to have trust in bitcoin and to again invest into bitcoin and according to one more source bitcoin has stood 6th positing in the worlds largest currency and etherum and litcoins and other crypto currencies are after bitcoin and bitcoin tips the list of all the crypto currencies.

Bitcoin, Litecoin Rallies Stall

The rally in both bitcoin and litecoin is stalling. One BTC is selling for $9,342 right now, down from $9,764 dollars last Tuesday. Litecoin is trading lower by $4 dollars to $157 per coin.

Bitcoin Rally Stalls

As noted above, the rally in BTC/USD is somewhat stalling. Prices topped out at $9,987 dollars five days ago and since then it’s been a slow ride down. Early this morning we dipped below the $9,000 round figure briefly but recovered quickly for a second time. However the bulls may not be so lucky the third time around, another retest may lead to a breakdown lower.
https://blog.fxopen.com/wp-content/uploads/2018/05/BTCUSDDaily-may9-Copy-768x361.png

The potential trend-ending support stands at the $8,815 swing low although not far from here there’s more decent support at the $8,650 swing low. A new downtrend may commence on a decisive break below the $8,000 round figure. Further down there’s some support around the former swing low at $7,287 dollars.

Continue reading... (https://blog.fxopen.com/bitcoin-litecoin-rallies-stall/)

Bitcoin, Litecoin Back in a Bear Market

Both bitcoin and litecoin are back in a bear market on the daily charts. One bitcoin is selling for $8,722 dollars right now while LTC is quoted at $145,66 dollars per coin.

Bitcoin Back in a Downtrend

As noted in our previous article, BTC/USD is now back in a bear market. Last week we saw a drop of over $1,000 dollars during which a low of $8,202 was hit. From here we got somewhat of a dead-cat bounce, helped by the Consensus conference.

https://blog.fxopen.com/wp-content/uploads/2018/05/BTCUSDH4-may15-Copy-768x361.png

But with the event already underway and technicals turning bearish, speculators could start to ‘sell the news’. Weak support on the way down can be found at the $8,202 swing low, followed by the $8,000 round figure. Further down we have more support at $7,821, another notable swing low. A strong support area below can be found in the $6,420 to $6,600 dollars range. This is where we bottomed out during the last selloff. A decisive break below here could open the door for a break of this year’s low at $5,980 dollars.

Read about LTC/USD on FXOpen blog (https://blog.fxopen.com/bitcoin-litecoin-back-in-a-bear-market/)

Ether Loses Momentum, Dash Up

Ether has lost the upward momentum versus BTC. While a new swing high was made today, the coin has made meager gains in the past two weeks.
Ether Loses Momentum
Ether prices have lost the positive momentum vs bitcoin. We are currently quoted at 0.08414 BTC, below the highs hit back on May 6th.

https://blog.fxopen.com/wp-content/uploads/2018/05/ETHBTCDaily-may17-Copy-768x361.png

Nonetheless, ETH/BTC remains in an uptrend on the daily charts. To end it the bears will have to make a decisive push below the 0.07703 BTC swing low. A breakdown below 0.07413 BTC is needed for a new downtrend.

Higher up there’s weak resistance above the 0.085 BTC round figure. This is followed by the 0.08829 swing high and the 0.09 and 0.1 BTC round figures. A decisive breakout above here may open to door to this year’s high at 0.121 BTC. On the longer-term weekly charts Ether is range-bound. The trend is bullish on the monthly charts, which take a longer time to turn.

Continue reading... (https://blog.fxopen.com/ether-loses-momentum-dash-up/)

Bitcoin, Litecoin Continue Downtrends

Both bitcoin and litecoin are continuing their downtrends. Bitcoin is quoted at $8,290 right now, lower by 4.5 percent since last Tuesday. Litecoin is trading at $133 dollars, down by 9.5 percent.

Bitcoin Still Bearish

Bitcoin is still looking bearish on the daily charts. On Friday we hit a new interim low of $7,921 but from here we got a bounce to $8,590 dollars. Right now we’re somewhat in between these two figures at $8,290 dollars.

https://blog.fxopen.com/wp-content/uploads/2018/05/BTCUSDDaily-may22-Copy-768x361.png


Continue reading... (https://blog.fxopen.com/bitcoin-litecoin-continue-downtrends-2/)

Ether in Range

Ether prices are back in a range vs bitcoin on the daily charts. You can see this range marked with a yellow rectangle on the charts below. The pair dropped to a low of 0.07437 BTC earlier today during a bout of selling across the board. With a previous swing low at 0.07413 BTC, this formed somewhat of a double bottom.

https://blog.fxopen.com/wp-content/uploads/2018/05/ETHBTCDaily-24may-Copy-768x361.png

A clearing of this bottom would start a new downtrend in ETH/BTC. On the upside the bulls need a breakout above the most recent swing high at 0.08542 BTC. This could re-start the move higher. Resistance above can be found at the 0.08829 swing high and the 0.09 and 0.1 BTC round figures. A decisive breakout above here may open to door to this year’s high at 0.121 BTC. On the longer-term weekly charts Ether is also range-bound. The trend is bullish on the monthlies but these charts take a longer time to turn.

The major event today and the reason for selling in ETH and BTC was news that the U.S. Justice Department entered a criminal probe into crypto price manipulation. The article says that the investigation is focused on illegal practices that can influence prices such as spoofing, or flooding the market with fake orders to trick other traders into buying or selling. Bloomberg specifically lists BTC and ETH as some of the coin markets that are being investigated. This was probably the reason why the selling was concentrated in these two cryptos while some others fared better.

Read about DSH/BTC here (https://blog.fxopen.com/ether-in-range-dash-still-down/).

Everything You Need To Know About Ethereum

https://blog.fxopen.com/wp-content/uploads/2018/06/ethereum-main-image_logo_4-1024x536.jpg

In the world of Cryptocurrencies, there are “fundamental technologies”. Some digital currencies can give rise to new Cryptocurrencies through their technology. The most important project in developing this idea is Ethereum, a decentralized revolutionary concept of reasonable contracts. The innumerable applications for this technology make Ethereum the second Cryptocurrency by market capitalization.

Ethereum has become a standard in the field of Cryptocurrencies. It allows practically any application to be developed, and other developers have taken advantage of this to create new Cryptocurrencies. The Blockchain of Ethereum is much more advanced than the Bitcoin one.

It uses a very robust work test hash function and is a complete Turing system. This means that Ethereum is a kind of integral programming language.

Continue reading... (https://blog.fxopen.com/everything-you-need-to-know-about-ethereum/)

Bitcoin, Litecoin Slightly Higher

Both bitcoin and litecoin are trading slightly higher since our last update. Bitcoin is quoted at $7,617 dollars compared to $7,482 back then, a gain of just under 2 percent. Litecoin is trading at $120 dollars right now, up by $3 dollars.
Bitcoin has advanced higher by almost 2 percent in a low volatility environment. The high during the past seven days was at $7,775 and the low at $7,270 dollars, a range of $505 dollars or close to 7 percent. This is very low compared to recent price movements. For example the 14 week ATR (Average True Range) is around $1,500 while the 5 week ATR is at almost $1,000 dollars.

https://blog.fxopen.com/wp-content/uploads/2018/06/BTCUSDDaily-june5-Copy-768x361.png

Yesterday we got close to the low from last Wednesday after bitcoin exchange Bitfinex went down. Prices quickly bounced back after the site relaunched. Markets are rightly worried about a Bitfinex outage, back in August of 2016 the exchange said that it lost 120,000 bitcoins to a hack.

Continue reading... (https://blog.fxopen.com/bitcoin-litecoin-slightly-higher/)

Dash continues to be in downtrend on the daily charts. Ether almost joined in last week after the 0.074 BTC swing low was taken out but prices quickly reversed higher.

Ether Back in Range

After a strong V-shaped reversal ETH/BTC is back in a range on the daily charts. This range is marked with a yellow rectangle on the chart below. We are currently quoted at 0.07824 BTC.

https://blog.fxopen.com/wp-content/uploads/2018/06/ETHBTCDaily-june7-Copy-768x361.png

A break below the 0.07 round figure is needed to re-start the down move. This is where we bottomed out during the latest swing lower and it almost matches the low made back on May 1st (0.06994 BTC). A clearing of this strong support could lead to extended losses below. Further down weaker support can be found at 0.06606 BTC, the 0.06 round figure and this year’s low at 0.0524 BTC. The next round figure at 0.05 BTC may also act as temporary support to falling prices.

Continue reading...  (https://blog.fxopen.com/dash-stays-in-a-downtrend/)

Another week of red for the crypto-currency market. Bitcoin prices are nearing the lows set early this year. Litecoin barreled through the $100 mark and is currently quoted at $93 dollars per coin.

Bitcoin Nears Yearly Lows

Bitcoin hit a low of $6,129 earlier in the day, only $149 dollars away from the 2018 low at $5,980. The strong support around the $6,400 level seems to be cleared now although a short-term dead-cat bounce is not out of the question. We are currently quoted at $6,488 dollars.

https://blog.fxopen.com/wp-content/uploads/2018/06/BTCUSDDaily-june13-Copy-768x361.png

The trend on the daily chart remains down. To end it we need a breakout above the $7,775 swing high. A move above here would also start a new rally in prices. Higher up there’s more resistance at $8,590 and 8,880 dollars per coin. The $10,000 round figure is another notable resistance level. This is where the last major push up died. A clear break above could lead to further gains.


Continue reading... (https://blog.fxopen.com/bitcoin-nears-2018-lows-litecoin-breaks-100/)

Ether prices jumped after a SEC official made a statement that the crypto is not a security. Dash is trading barely changed compared to one week ago.

Ether Jumps on SEC Statement

At the Yahoo Finance’s All Market Summit: Crypto in San Francisco, the U.S. SEC Director of Corporate Finance William Hinman said that the commission would not be classifying ether or bitcoin as securities. Tokens that ‘run’ on the ether blockchain may be classified as securities. Over the past few months there were worries that regulation could spill over from the token market to ETH itself. More of this clarified SEC position here.

https://blog.fxopen.com/wp-content/uploads/2018/06/ETHBTCDaily-june14-Copy-768x361.png


Continue reading... (https://blog.fxopen.com/ether-jumps-on-sec-statement/)

Some Gains Across Crypto Market

The crypto market is seeing some gains across the board. Bitcoin is up to $6,700 from $6,315 dollars and LTC is at $97 dollars, up from $93 dollars last week.

Bitcoin Higher but Downtrend Remains

Bitcoin is up 6 percent by since our last update. Prices bottomed out at $6,129 dollars last week, very close to the all-time low for BTC/USD at $5,980 dollars.

https://blog.fxopen.com/wp-content/uploads/2018/06/BTCUSDDaily-june19-Copy-768x361.png

However despite the gains the downtrend on the daily charts remains. To end it the bulls will have to take us above the $7,775 swing high. A move above here would also restart the rally. Higher up there’s more resistance at $8,590 and 8,880 dollars per coin. The $10,000 round figure is another notable resistance level. A clear breakout above could lead to further gains.

Continue reading... (https://blog.fxopen.com/some-gains-across-crypto-market/)

Both bitcoin and litecoin are trading only a few percentage points above the 2018 lows. Bitcoin is quoted at $6,075 dollars right now, down by $625 dollars or 9.3 percent. Litecoin is trading at $77.31 dollars, down by $20 and almost 21% in percentage terms.

Bitcoin Floats Above 2018 Lows

Bitcoin hit a new yearly low of $5,766 on Sunday but we got a fairly quick rebound from here. In the next few days the dead-cat bounce took us to $6,326 dollars but as you can see on the chart below a lot of those gains have since faded.

https://blog.fxopen.com/wp-content/uploads/2018/06/BTCUSDDaily-june27-Copy-768x361.png

We are still in a downtrend on the daily charts. To end it we need a breakout above $6,840 dollars per coin. A new rally, however, requires a break of the $7,775 resistance as well. Higher up there’s more resistance at $8,590 and 8,880 dollars per coin. The $10,000 round figure is another notable resistance level.

Continue reading... (https://blog.fxopen.com/bitcoin-litecoin-float-over-yearly-lows/)

Ether is sitting on the important important around 0.07 BTC per coin. Meanwhile Dash is making new yearly lows and is quoted at 0.03693 BTC at the moment.

Ether Sits on Support

After falling by almost 10 percent since last Thursday, Ether is back at the important support of 0.07 BTC. Yesterday we briefly dipped below this important level and traded as low as 0.06961 BTC. But as we frequently point out here we are looking for a decisive break of a level, not just a quick and shallow spike below it. There are lot of games being played around important levels like 0.07 BTC so you shouldn’t jump the gun too quickly.

https://blog.fxopen.com/wp-content/uploads/2018/06/ETHBTCDaily-june28-Copy-768x361.png

Ether is quoted at 0.07107 BTC right now. A decisive breakdown below 0.06961 BTC is needed to finally start the downtrend on the daily charts. For now the pair remains in a range. Support below here can be found at 0.06606 BTC followed by the former swing high at 0.05906 BTC.

Continue reading... (https://blog.fxopen.com/ether-sits-on-support-dash-lower/)

ETHER LITTLE CHANGED, DASH DOWN


Both Ether and Dash are trading little changed versus bitcoin. Ether is up by 0.11% while Dash is lower by 0.84 percent since last Thursday. Not large moves by any means and especially not for the crypto market which tends to be more volatile than traditional markets.

Ether Little Changed

Ether is quoted little changed vs BTC. The altcoin had a short and uneventful trip below the 0.07 BTC figure on June 30th only to bounce back quickly. We are quoted at 0.07115 BTC right now, not far from where we were trading at on June 28th.

https://blog.fxopen.com/wp-content/uploads/2018/07/ETHBTCDaily-july5-Copy-768x361.png


Continue reading... (https://blog.fxopen.com/ether-little-changed-dash-down/)

The future trend of cryptocurrencies is certainly still very dependent on bitcoin, and until now bitcoin marketcap is still number # 1 with more than 38% reach, and I'm sure that the future will continue to improve even though bitcoin marketcap continues to decrease.

FXOpen cut spreads. Screenshot was made today on a real ECN account.

https://cryptocurrencytalk.com/uploads/monthly_2018_07/5b44c628eb77b_ecn.jpg.21630cea566760b8e14bf283680b997c.jpg

Bitcoin Drops, Litecoin Follows

Yesterday bitcoin made another attempt to break out and end the current downtrend. It was unsuccessful and the coin proceeded to drop by $346 dollars from the highs. Litecoin followed big brother lower declining by 6 percent today.

Bitcoin Drops From Highs

Bitcoin hit a high of $6,806 yesterday, only $34 dollars away from the previous swing high at $6,840 dollars. As noted in our last article, we needed a breakout above this level to end the downtrend. As that didn’t occur, BTC/USD remains in a downtrend on the daily charts.

https://blog.fxopen.com/wp-content/uploads/2018/07/BTCUSDDaily-july10-Copy-768x361.png

The $6,840 dollars figure remains to be the important swing high. A breakout above it would both end the downtrend and trigger a new uptrend in prices. We are currently quoted at $6,460 dollars, down 3.6 percent on the day.


Continue reading... (https://blog.fxopen.com/bitcoin-drops-litecoin-follows/)

Ether is desperately trying to cling on to the support around 0.07 BTC. Meanwhile Dash hit new 15-month lows today at 0.03335 BTC.

Ether Teeters on Support

Ether is quoted at 0.06946 BTC right now, desperately trying to climb back above the 0.07 BTC figure. Two days ago a new multi-week low of 0.06734 BTC was hit but as you can see on the chart below we bounced back quickly from here. While the support is now technically broken, we can’t call for a downtrend yet. For that to happen we need to see a decisive breakdown of a level not just a quick and shallow break.

https://blog.fxopen.com/wp-content/uploads/2018/07/ETHBTCDaily-july12-Copy-768x361.png

A break of 0.06734 BTC is now needed for a new downtrend. Weak support below here can be found at 0.06606 BTC followed by the former swing high at 0.05906 BTC.

Continue reading... (https://blog.fxopen.com/ether-teeters-on-support-new-lows-for-dash/)

Gold price is correcting higher, but it is facing a major resistance near $1,248. Crude oil price is under pressure, and on the upside, there are key resistances near $70.25 and $70.70.

Important Takeaways for Gold and Oil

- Gold price declined this week and settled below the $1,250 support against the US Dollar.
- There is a crucial bearish trend line formed with resistance near $1,247-48 on the hourly chart of gold.
- Crude oil price is likely to face many resistances on the upside like $70.25 and $70.70.
- China’s Trade Balance in June 2018 posted a surplus of $41.60B, well above the forecast of $27.61B.

Gold Price Technical Analysis

Gold price remained in a downtrend this week from well above the $1,260 pivot level against the US Dollar. The price declined and broke many supports such as $1,254 and $1,250.

It traded towards the $1,240 level and formed a low near $1,241. It is currently correcting higher and it already moved above the $1,244 resistance. It also broke the 23.6% Fib retracement level of the last decline from the $1,256 high to $1,241 low.

https://blog.fxopen.com/wp-content/uploads/2018/07/Gold-Price-Chart-1-1024x441.png

However, there is a significant resistance formed near $1,248 and the 50 hourly simple moving average. There is also a crucial bearish trend line formed with resistance near $1,247-47 on the hourly chart of gold.

Continue reading... (https://blog.fxopen.com/gold-and-crude-oil-buyers-face-uphill-task/)

This analysis was done about 3 months ago and is still relevant to todays bitcoins price. The bearish price of Bitcoins and top alternative currency is not going to end sooner.

After a prolonged period of low volatility and range-bound trading the crypto market rallied yesterday. Bitcoin jumped by $288 dollars to close the day at $6,663 dollars per coin. Litecoin rallied by $3.92 to close at $82.94 dollars yesterday.

Possible breakout for Bitcoin

Bitcoin finally ended the downtrend started back in May of this year. The crypto rallied by 4.5% yesterday. Today we’re gaining more ground with BTC/USD quoted at $6,712 right now. Bitcoin looks set to test the important resistance at $6,840 dollars per coin. A decisive breakout above here would start a new BTC rally.

https://blog.fxopen.com/wp-content/uploads/2018/07/BTCUSDDaily-july17-Copy-768x361.png

Above here there’s weak resistance at the previous swing low of $7,046 dollars. Resistance higher up can be found at the $7,775 swing high. This is followed by more levels at $8,590 and 8,880 dollars. The $10,000 round figure is another notable resistance level. A breakout above here could lead to more gains.

Continue reading... (https://blog.fxopen.com/bitcoin-jumps-possible-breakout/)

After a long period of consolidation, Ether entered a downtrend vs BTC. Meanwhile Dash continued the bearish trend from the week prior.

Ether Enters Downtrend

We finally got a decisive break of support in ETH/BTC. Earlier the pair tried to start a new downtrend but was rebuffed twice as bulls rallied us back above the 0.07 BTC mark. Yesterday we got a sharp break below the previous low at 0.06734 BTC and unlike previous times we kept going. Today a new two-month low of 0.06232 BTC was hit. We are currently quoted just above here at 0.06139 BTC.

https://blog.fxopen.com/wp-content/uploads/2018/07/ETHBTCDaily-july19-Copy-768x361.png


Continue reading... (https://blog.fxopen.com/ether-enters-downtrend/)

I hate these chart readings. I mean people keep on reading charts on bitcoin like crazy and they share it and everyone talks about it, hell whole crypto world became a master at financial chart reading this past 6 months for some reason. Bitcoin doesn't care about your charts, learn this already, I have been around for over 5 years and charts never matter.

One big whale one big move, one big wave and all of a sudden anything can happen. Bitcoin can become 6k tomorrow or 10k, no one will be surprised for both of them. Learn that charts never matter when the majority of moves happens quickly with some trigger pulled by some people, stop caring about your charts and not read them.

Yet people make a ton of money using TA. I guess it's only a coincidence right? Chart readings matter, the only difference is that the crypto market is heavily influenced by good/bad news. Everyone reacts really aggressively to them so you always have to be aware of that. However on periods of time when we have no significant news TA prevails.

Down pressure seen. Bull trap for real?
https://www.coingecko.com/en

A bull trap? Do you even know what a bull trap is? ''A bull trap occurs when a trader or investor buys a stock that is about to breakout above a resistance level '' In this case we already had a strong follow through above resistance, this can't be a bull trap.

Among this coins i highly prefer to invest on ethereum because the growth of this coin is much faster due to its popularity on the people in the community.

Your analysis is very reasonable and your markup is obvious. As a trader, your trade is more experienced than me, thank you for sharing!

His analysis isn't that great, I'm not saying it's bad but he is not very good either. He might be able to fool you because you have no experience but he clearly doesn't even understand what a bull trap is. I suggest to watch TheChartGuys on youtube. Dan is honestly one of the best, if not the best analyst out there, at least for free.

Bitcoin prices are back in a downtrend after falling 10 percent after yesterday’s SEC decision. Litecoin followed suit, breaking out from its range and starting its own bearish trend.

Bitcoin Down After Delayed ETF Decision

Bitcoin prices dropped close to 10 percent in the past 14 hours. The main catalyst behind the news was the U.S. Securities and Exchange Commission delaying a decision on the VanEck-SolidX ETF until September. While this may not seem like such a bad decision, this is exactly how the SEC treated the Winklevoss ETF. That decision was delayed for years, exhausting all legal delay options, then ultimately refused early last year.

https://blog.fxopen.com/wp-content/uploads/2018/08/BTCUSDDaily-augg8-Copy-768x361.png

Today’s delay comes only 11 days after the SEC rejected the Winklevoss ETF for a second time. As we noted in our article back then, based on the reasons given by the agency, the VanEck-SolidX bid in August should be dead in the water too.


Continue reading... (https://blog.fxopen.com/bitcoin-back-in-downtrend/)

Ether Still in Downtrend

Ether continues the downtrend vs BTC. The altcoin traded as low as 0.054 BTC last Friday before recovering somewhat. We are currently quoted not far from the lows at 0.05561 BTC.

https://blog.fxopen.com/wp-content/uploads/2018/08/ETHBTCDaily-aug9-Copy-768x361.png

Technically ETH/BTC remains in a bearish trend on the daily charts. To end it the bulls need to stage a breakout above the 0.05845 BTC swing high. A break beyond 0.063 BTC is needed for a new rally. Below current prices we have support at the March low of 0.05240 BTC followed by the 0.05 round figure. This is a another possible area where the downtrend may stall. On the longer-term charts the picture is still the same. We are in a range on the weekly charts and slightly bullish on the monthlies.

Read also DSH/BTC analysis on FXOpen blog (https://blog.fxopen.com/crypto-market-hits-new-2018-lows/).

Bitcoin prices hit new monthly lows of $5,883 dollars before stabilizing somewhat. Litecoin hit a new 2018 low yesterday at $49.10 dollars before rallying higher. It’s quoted at $54 dollars right now.

Bitcoin Hits Monthly Lows

As noted above BTC/USD hit new lows for this month before stabilizing. We are trading at $6,330 at the moment, not far from the $6,488 dollars quoted last week.

https://blog.fxopen.com/wp-content/uploads/2018/08/BTCUSDDaily-augg15-Copy-768x361.png

In that article we said that the $5,700 to $6,000 area will provide some support. This is exactly where the current downmove decided to stall. A decisive clearing of this area should open the door to the $5,000 round figure. The latest bounce seems like a dead-cat. The lack of a fundamental driver coupled with the relatively small gains shouldn’t give much hope for an extended move.


Continue reading... (https://blog.fxopen.com/bitcoin-hits-monthly-lows-before-stabilizing/)

Ether, Dash Crash 23 Percent   :-\  ???

Both Ether and Dash had some large losses during the past seven days. Ether fell to a new yearly low of 0.04205 BTC. Dash also fell to a new 2018 low at 0.02186 BTC. Both coins bounced somewhat from these lows but they remain firmly in a downtrend.

Ether crashed by 18 percent since our yesterday's update. Measured to the lows the decline was around 24 percent. The clearing of the 0.05 – 0.0524 BTC area acted as a catalyst to further losses. We are quoted at 0.04556 BTC right now, significantly below the 0.05542 BTC price recorded last week.

https://blog.fxopen.com/wp-content/uploads/2018/08/ETHBTCDaily-aug16-Copy-768x361.png

Ether is still in a downtrend versus bitcoin. The number to watch is the swing high at 0.05845 BTC. A decisive breakout above here would both end the downtrend and start a new rally in prices. Below this however we have the former strong support area at 0.05 – 0.0524 BTC. This area should now turn to resistance. Other resistance levels above 0.05845 BTC can be found at 0.063 BTC, 0.06734 BTC, 0.07168 BTC and 0.07292 BTC. A break above 0.07292 BTC may lead to more gains. The 0.06 and 0.07 BTC round figures may also act as weak resistance.

Want to read more? Go here (https://blog.fxopen.com/ether-dash-bounce-after-crash/)

Bitcoin, Litecoin Barely Changed

Both bitcoin and litecoin are trading very close to where they were last week. Bitcoin is down by $25 dollars or 0.4 percent. Litecoin is trading lower by $1.04 dollars or 1.9 percent.

Bitcoin Down Only 0.4 Percent

Bitcoin prices are only lower by 0.4% percent compared to our article last week. Still BTC/USD remains in a downtrend on the daily charts. To end it we need a breakout above $6,646 dollars. A breakout above $7,705 dollars is needed for a new rally. In-between these two important levels there’s potential resistance at $6,840, $7,155 and $7,212 dollars per coin.

https://blog.fxopen.com/wp-content/uploads/2018/08/BTCUSDDaily-aug21-Copy-768x361.png

Want to read more about cryptocurrencies? Look in our blog (https://blog.fxopen.com/topics/cryptocurrencies/)

Bitcoin Enters Bullish Territory

Bitcoin is quoted at $7,365 dollars right now, up by $1,060 dollars compared to two weeks ago. Back then one coin was selling for $6,305 dollars. In percentage terms this is a gain of close to 17 percent. The gains seem to be mostly a technical affair, as there were no major positive news during the past few weeks.


https://blog.fxopen.com/wp-content/uploads/2018/09/BTCUSDDaily-sept5-2-Copy-768x361.png


The trend on the daily charts has now switched to bullish. A break below $6,570 dollars is needed to end it. A move beyond the $6,000 round figure could re-awaken the bear. More support on the way down can be seen at $7,155, $7,046, $6,864 and $6,800 dollars per coin. A move below $5,700 could easily lead to a test of the $5,000 price level.


Continue reading... (https://blog.fxopen.com/bitcoin-litecoin-enter-bullish-territory)

Please, follow news in our profile and you will always be aware of the latest hot news in the world of Cryptocurrency. Regardless of whether the bitcoin rate will rise or fall, you will be able to earn on our crypto trading accounts:
https://www.fxopen.com/en/trading-accounts/crypto-bitcoin-account

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The crash of bitcoin that started on September 5th abruptly ended the rally. In the span of 16 hours BTC lost almost 15 percent of its value, falling from $7,381 to a low of $6,294 dollars. Most cryptos followed suit, with Litecoin declining by close to 21% during the same time period.

Bitcoin Drops by 15 Percent

As noted above BTC/USD dropped by close to 15 percent in the span of 16 hours. The crash started around midday on September 5th from $7,381 dollars, a low of $6,294 dollars was hit in the morning on September 6th. From here we stabilized a bit but two days later a new low of $6,116 dollars was made.

https://blog.fxopen.com/wp-content/uploads/2018/09/BTCUSDDaily-sept12-2-Copy-768x361.png

Some pinned the selling on news that Goldman Sachs will not open a crypto trading desk anytime soon. However this seems like too small of a catalyst for such a large market over-reaction. We are currently quoted at $6,298 dollars per coin.

Continue reading... (https://blog.fxopen.com/crypto-back-in-range-after-15-crash/)

Dash is bucking the general downtrend in altcoin prices. While ETH made new yearly lows, Dash is now in rally mode vs BTC.

Ether Hits New 2018 Lows

On Wednesday ETH/BTC hit a new 2018 low at 0.02620 BTC. The represents a loss of 48% from the 0.05052 BTC price recorded only one month ago. In USD terms ETH hit a low of $167 dollars on September 12th before bouncing. We are currently quoted at 0.03138 BTC, around 20 percent off the lows.


https://blog.fxopen.com/wp-content/uploads/2018/09/ETHBTCDaily-sept14-Copy-768x361.png


Continue reading... (https://blog.fxopen.com/dash-bucks-crypto-downtrend/)

Litecoin Bounces at Support, Trend Down

It has been an uneventful seven days for bitcoin and litecoin. Both coins are trading not far from where they were during our update last week.

Bitcoin Little Changed

Bitcoin is trading little changed compared to last Tuesday. We are quoted at $6,255 dollars right now, a drop of only $43 or just under 1 percent. As you can see on the chart below, during the past ten days we’ve been trading in a tight range between $6,100 and $6,600 dollars.

https://blog.fxopen.com/wp-content/uploads/2018/09/BTCUSDDaily-sept18-Copy-768x361.png

A breakdown below $6,100 dollars could trigger a new downtrend on the daily charts. Conservative traders may wait for a break of this year’s low at $5,790 dollars before jumping in. On the top end the bulls need a break of this month’s high at $7,409 dollars to start an uptrend in prices.


Continue reading... (https://blog.fxopen.com/litecoin-bounces-at-support-trend-down/)

Hi folks. Might be interesting to look at Ethereum right now.
We did not touch the 61.8%. Then it is 23.6% at $198 for the correction, but well it's not a science, so here I am expecting a bullish trend, we have a hidden bullish divergence in H4 and we see that we have broken our bullish oblique to be able to start a new cycle with a good basis. Hope I am right anyway.

https://cryptofr.com/assets/uploads/files/1537896625667-kraken-ethusd-sep-25-2018-20-27-34.png

Even how many and accurate this analysis you are bringing here still this won’t change the reality that crypto market is still falling and making hard to grow this is the truth we must face and realize and not those analysis and speculation putting in forum but the value continues to drop

Don't get me wrong, I do agree with you and we should never forget about the fundamentals, but technical analysis does help a lot for short term trading, proved it countless of times this year.

Hello, guys!

According to cryptomarket analysis September 25 Bitcoin returned to the most popular level of high-volume area. Today the target for buyers is the upper border of the current area of $6,789 and the range of relatively low-volume area of $6,789 - 6,920. If this scenario is successful the cryptocurrency can go above $6,920.   
And please remember that: trading in the cryptocurrency market is associated with high risks and is not suitable for every investor. The above analysis should not be considered as a recommendation or a call to action. Each trader should assess the risks for themselves. FXOpen are not liable for the potential losses incurred.
 Have a nice day! :)

The relatively long stability in the crypto market ended yesterday when prices of all major coins tumbled. Bitcoin dropped by 5.6 percent, while ETH/BTC lost 10.6 percent and Dash closed down by 7.5 percent. Yesterday’s crash was enough to put Dash into a downtrend while Ether is flirting with the support around 0.03 BTC. A break of this level could put the coin back in a bear market.

Ether on Life Support

Ether prices dropped by over 10 percent yesterday to hit a low of 0.02946 BTC at one point but quickly bounced from here. A decisive breakdown below this level could re-start the downtrend in ETH/BTC. On the lower end we have weak support at the most recent swing low of 0.02620 BTC, followed by the December 2017 lows at 0.02287 BTC. The 0.02 round figure could also act as temporary support.


https://blog.fxopen.com/wp-content/uploads/2018/10/ETHBTCDaily-oct11-Copy-768x361.png



Continue reading... (https://blog.fxopen.com/dash-breaks-down-ether-on-life-support/?utm_source=bitcointalk&utm_medium=post&utm_campaign=fxopen_blog)

BTC/USD

From Friday’s low at $6238 the price of Bitcoin has spiked up to $7784 yesterday but has quickly pulled back and is currently hovering around $6763.

https://blog.fxopen.com/wp-content/uploads/2018/10/btcusd-D-1024x545.png

Looking at the daily chart we can see that the price broke out from the descending triangle which dates from the beginning of February as yesterday’s candle closed above the resistance level at $6740.  The candle closed leaving a massive 13.4% spike from $7788 which is the prior range support now serving as resistance. As today’s candle is still around the yesterday’s candle close levels we are yet to see if this ends as a fakeout.

Continue reading...  (https://blog.fxopen.com/btc-usd-forming-a-symmetrical-triangle-as-well-as-xrp-usd/?utm_source=bitcointalk&utm_medium=post&utm_campaign=fxopen_blog)

Thank you for sharing your thoughts and views with us about the state of the market and I believe that Ethereum is going to recover after the network and gas issue are settle. I am still holding my Ethereum and the hope is that good days are ahead. For those that keep this good faith with us you can now buy more of Ethereum.

As far as eth was concerned here with respect to the trend that has shown on the graphical data, I think that was really going to happen in most certain cases specially these days of bull trap. Once we're surviving along with the bearish market, I guess bitcoin will also gaining back to successive pumps. That would affect to other crypto specially with ethereum, and I am confident to that trend I seen on graph to spike back to very highest price ever reached.

LTC/USD AND EOS/USD IN A BEARISH PENNANT

LTC/USD

From Monday’s spike at $62 the price of Litecoin has retraced by 11.8% as its currently trading at $54.73.


https://blog.fxopen.com/wp-content/uploads/2018/10/ltcusd-1h-1024x497.png


Looking at the hourly chart we can see that the price action is now back on the descending channels resistance line, which now serves as a support. As you can see, the price action formed an ascending channel that breaks out from the descending one. But it results in a painful and slow upward move followed by a massive red candle bringing the price back inside the territory of the descending channel. It happened on Monday and happened two more times previously. I believe that this will happen this time as well and the price is heading down to the lower support zone line at $49.2 or even lower to the support zone lower line 2 at $44.62.


Continue reading... (https://blog.fxopen.com/ltc-usd-and-eos-usd-in-a-bearish-pennant/?utm_source=bitcointalk&utm_medium=post)

XRP/USD and EOS/USD showing potentially short-term increase but an outlook is grim


XRP/USD

Last Monday, October 15th, the price of Ripple started the week at $0.4 at the open and in five hours managed to spike up to $0.52404 which is an increase of 30.45%.


https://blog.fxopen.com/wp-content/uploads/2018/10/xrpusd-1h-1-1024x537.png


After a massive rise the price action has been stuck in a corrective range with the price currently being below the range median line at $0.475. It is heading downwards as the price was rejected by the level once again. Measured from the last Monday’s opening price to the current levels, XRP is up by 12.92% which is a good recovery after the prior drop to $0.378.


Continue reading.... (https://blog.fxopen.com/xrp-usd-and-eos-usd-showing-potentially-short-term-increase-but-an-outlook-is-grim/?utm_source=bitcointalk&utm_medium=post)

Last week the price of Bitcoin has been hovering around $6556 levels before the price dropped. From last week’s high at $6624 the price decreased by 4.53% to its lowest point today at $6320.



https://blog.fxopen.com/wp-content/uploads/2018/10/btcusd-1h-2-1024x528.png



Looking at the hourly chart you can see that the price is on the exact levels of the projection made on 24 October. WXY waves have been counted and as the price action formed a triangle, which points out consolidation, it has been projected that two more waves would appear, and as the wave Z ends on the triangle’s resistance line, a move to the downside would occur. The target for the end of the down move was the resistance level from the prior minor range from which the October 15th spike was made.




Continue reading... (https://blog.fxopen.com/both-btc-usd-and-xrp-usd-under-selling-pressure/?utm_source=bitcointalk&utm_medium=post)

For a long time, leading digital currencies, such as Bitcoin and Ether, continue to soar around average price points, which remain relatively stable. Of course, significant news of the cryptocurrency market can send shock waves throughout the market, quickly causing a surge or a fall in prices. However, as the events of the past week have shown, digital tokens seem to be prone to returning to familiar price ranges. Almost all the top 10 digital currencies by market capitalization are being traded horizontally throughout the week. Although some coins fell at the end of the week, Bitcoin remains relatively close to the $6,500 threshold, while Ether is pegged to the price of $200.

https://blog.fxopen.com/wp-content/uploads/2018/10/Cryptocurrency-I1-1024x546.jpg

Although cryptocurrency rates were relatively stable, this does not mean that investors are satisfied with the state of the market. Indeed, many of the leading coins have fallen by 50% or more since their peaks a few months ago. This stagnant price trend has prompted many analysts and investors to assume that digital currency space is dead. However, looking from a broader perspective, it turns out that there are signs of life. This year, mergers and acquisitions in the digital currency world have tripled. In 2017, 47 transactions of this kind were conducted, and by the end of 2018 their number will be 145. Perhaps awareness-raising of cryptocurrency and blockchain technology played a certain role in this area.

Continue reading... (https://blog.fxopen.com/stability-of-cryptocurrency-what-does-it-mean/)

The Bias for LTC/USD and EOS/USD is Short-term Bullish


LTC/USD

From last Monday high at $53.8 the price of Litecoin has decreased by about 9% at its recent lowest point at $48.87. Currently, the cryptocurrency is traded at $50.029, which almost a 2% recovery from the mentioned low as the price is in an upward trajectory.

https://blog.fxopen.com/wp-content/uploads/2018/11/ltcusd-1h-1024x512.png


On the hourly chart, we can see that the price went below the horizontal support level at $52.4 and a big red candle appeared indicating that selling was activated around that area. As the price dropped, it went below the next horizontal support level at $49.23 dipping two times below it and leaving two wicks that both reach out to $48. Currently, as the price has recovered with a big green candle, we are seeing a minor descending structure that is corrective in nature and will likely result in another increase from these levels.


Continue reading... (https://blog.fxopen.com/the-bias-for-ltc-usd-and-eos-usd-is-short-term-bullish/?utm_source=bitcointalk&utm_medium=post)

You are right there dude,no one gets right since the bear covers the whole market..
And sad to say but only those fud seems to become more reliable as they can predict the dropping of the prices while the positive predictions eaten by this negativity.
Thats why the best option is to hold and keep patient

And follow the latest news in the world of cryptocurrency with FXOpen.
One of the leading broker in the industry.
:)

BTC/USD

Since last Tuesday the price of Bitcoin has increased by 2.41%, coming from $6327 to the current level at $6484.5.



https://blog.fxopen.com/wp-content/uploads/2018/11/btcusd-D-1024x514.png


Looking at the daily chart we can see that the price of Bitcoin interacted with the horizontal support level at $ 6256 last Wednesday. That is why we have seen this increase over the course of the last week to the next horizontal level at $6516, which now serves as resistance. Yesterday’s candle was a red one indicating that the price might get rejected by the horizontal level, but as today’s candle is a green one with a wick interacting with the level, we are yet to see if the rejection gets validated or was it just a correction before a breakout.



Continue reading... (https://blog.fxopen.com/btc-usd-still-under-pressure-while-xrp-usd-increased-by-over-18/?utm_source=bitcointalk&utm_medium=blog)

This bitcoin price in 2018 tends to fall because there is a lot of bad news that makes a lot of people lose and a lot of people disparage bitcoin because it cannot provide profits, even this is also said from the influence that occurs when the price of bitcoin meal is high bitcoin falls again.

Bitcoin has managed to successfully conquer the $6,500 handle yesterday. We hit a high of $6,592 during the small pump but a lot of those gains were quickly surrendered. We are currently quoted at $6,564 dollars per coin.

Bitcoin Up but Momentum is Weak

The short-term momentum in BTC/USD is up but weak. The percentage gain yesterday was only 1.4%, far from convincing. To get a stronger rally we may need a breakout above the $6,850 figure. A move above here would take us into bull territory on the daily charts.



https://blog.fxopen.com/wp-content/uploads/2018/11/BTCUSDDaily-nov8-Copy-768x361.png



Below we’re looking at the $6,200 level as a potential bear trend starter. Weak support below can be found at $6,116 followed by the $6,000 round figure.



Continue reading... (https://blog.fxopen.com/bitcoin-up-but-momentum-is-weak/?utm_source=bitcointalk&utm_medium=blog)

This ethereum price depends on bitcoin price movements and depending on the development of the ethereum project, it is very difficult to ensure ethereum prices because these coins, including coins that are not known to be in total supply, are very difficult to predict.

Thank you for sharing your thoughts and views with us. We do not do any predictions. Our goal is providing facts about cryptocurrency trends and  fluctuations. True ECN model is our business model. It gives traders access to the Interbank market.  FXOpen offers 43 pairs with BTC, ETH, BCH, EOS, Ripple, Monero, ETC, LTC, etc. 

Thanks for sharing this great analysis. It is really hard for the current market when you cannot provide and make your own analysis. Good thing that Cryptocurrencies.Ai will launch this November to help traders and investors to trade with confidence. The platform will allow users to do technical charting, market research, manage your portfolio from one platform.

Sign up now on their website to reserve your spot on the beta platform launch this November: https://cryptocurrencies.ai
Also, join the telegram group to get the latest news and updates about our development: https://t.me/CryptocurrenciesAi

That is truth and we have to see and analyze ethereum in this way.  ethereum majorly grow when bitcoin is growing and when there is major developments on it technology. Though we can predict the market base on both technical and fundamentals analysis and see if a growth or bullish trend is about to form and investors along with it and that is what the op is trying to said.
The bad news has really affected the market and we should expect a recovering some years to come probably next year.

BTC/USD

Last Tuesday, November 6th, the price of Bitcoin was at the opening around $6470, and measuring to its current levels of $6438 the price has fallen by only 0.49%. The price hit its recent high the next day on November 7th reaching $6609 and spiking up to $6615 from where the price has been in a downtrend correcting, reaching the recent low at $6380, and spiking down to $6358.7 at its low. Measured from the recent high to the recent low, the price has pulled back by 3,44% but has recovered since its making up for the downfall and is now at 2,61%.




https://blog.fxopen.com/wp-content/uploads/2018/11/btcusd-4h-1024x513.png



In our last week’s analysis, it was projected that “the 5 wave could get a bit higher to the marked zone ($6560-6580) but in both cases, I would be looking at more downside for Bitcoin in the upcoming period as after an impulsive 12345 a correction occurs according to the Elliott Wave Principle”.



Continue reading... (https://blog.fxopen.com/btc-usd-in-a-correction-xrp-usd-lagging-behind/?utm_source=bitcointalk&utm_medium=blog)
 

Actually, the investors or the people are not looking for the cheap prices anymore but mostly are waiting for this bearish market to disappear so that their fear to invest will gone. The price is really much cheaper to purchase right now but the problem is when you buy the dip but it dips even more losing your investments therefore the reality is that when the price keeps on becoming cheap the people become more afraid to invest.

Compared to last week, Bitcoin is down $130 on FXOpen or close to 2 percent. We are quoted at $6,433 dollars right now.

Bitcoin Down as Tether Drops Again

As we can see on the chart below, the zig-zag movement in BTC/USD continues. After last week’s small rally this week we’re witnessing a selloff.



http://blog.fxopen.com/wp-content/uploads/2018/11/BTCUSDDaily-nov14-2-Copy-768x361.png



The divergence between Tether and USD-based bitcoin exchanges continues. On Bitfinex one coin is selling for $6,476 dollars at the moment. On other exchanges like BitStamp and Coinbase bitcoin is trading at average of $6,277 dollars. This is due to the lower price of Tether, a so-called ‘stablecoin’ that is used as a substitute for USD on exchanges that have banking issues. Tether is trading at 97 cents right now, 3% below it’s ‘peg’.


Continue reading... (https://blog.fxopen.com/bitcoin-down-as-tether-drops-again/?utm_source=bitcointalk&utm_medium=blog)

LTC/USD and EOS/USD more downside expected



On the 15th of November the price of Litecoin has fallen by 16.34% and was being traded at $42.8.
Looking at the hourly chart, we can see that the price fell through the descending channels resistance with a massive momentum as the majority of the decline happened in only 8 hours. The price is below the S2 support line at $44.621. I’ve labeled as a support zone forming a cluster around those levels. The wicks from the downside are indicating that some support has been found but I believe that it will hold only temporary.



https://blog.fxopen.com/wp-content/uploads/2018/11/ltcusd-1h-1-1024x510.png



Continue reading... (https://blog.fxopen.com/ltc-usd-and-eos-usd-more-downside-expected/?utm_source=bitcointalk&utm_medium=blog)

Both BTC/USD and XRP/USD under strong selling pressure


BTC/USD
Since last Tuesday when the price of Bitcoin was around $6500 we have seen a downfall of over 30% measured to the lowest levels Bitcoin’s been today, which is at $4529.



http://blog.fxopen.com/wp-content/uploads/2018/11/btcusd-1h-2-1024x500.png



This move to the $4700 area was expected as the price action formed a bearish pennant from which, if you were to project the length of the prior move from the apex, you would get a target at around $4700. Also, this was the target area for the descending triangle breakout seen on the daily chart below.



Continue reading... (https://blog.fxopen.com/btc-usd-and-xrp-usd-both-under-strong-selling-pressure/?utm_source=bitcointalk&utm_medium=blog)

Cryptocurrency market continues to decline


The price of Bitcoin has been moving within the range above $6,000 during the last two weeks. However, on Wednesday, November 14, the rate fell to the year low at 5,523 dollars. The cryptocurrency has lost about 13% of its value in less than five hours. The total market capitalization also fell below $100 billion for the first time since November last year and is currently at the level of slightly above $76 billion. On Tuesday, November 20, the price dropped to $4,500.


https://blog.fxopen.com/wp-content/uploads/2018/11/marketcup-1024x544.png


The dip of Bitcoin had a domino effect on crypto markets. The five largest cryptocurrencies also fell by more than 10%, and the market cap fell below $200 billion. Bitcoin Cash, which was forked on November 15, was the biggest misfit, quickly losing 15% of its value.



Continue reading... (https://blog.fxopen.com/btc-usd-and-xrp-usd-both-under-strong-selling-pressure/?utm_source=bitcointalk&utm_medium=blog)

LTC/USD and EOS/USD – one more low ahead!


LTC/USD

Since 6th of November, the price of Litecoin has been in a downtrend and on last Thursday the price was $45.385 at the open. From there the price stagnated at first but at the start of this week on Monday the price started to decrease again falling further down to $32.813, which is the yearly low.
The price has been consolidating and is now at around $34.64, which is an overall decrease of 23.40% in the last seven days.



https://blog.fxopen.com/wp-content/uploads/2018/11/ltcusd-1h-2-1024x537.png




Continue reading... (https://blog.fxopen.com/ltc-usd-and-eos-usd-one-more-low-ahead/?utm_source=bitcointalk&utm_medium=blog)

BTC/USD and XRP/USD still bearish but a recovery is on the way


BTC/USD

Last week on Monday, November 20th the price of Bitcoin was at $4977, the week’s highest point. From that high, the price went back to the levels from which the increase around $4500 was made and then continued to move to the downside. Measured to the current level of $3748 the price of Bitcoin has fallen by 24.65%.


https://blog.fxopen.com/wp-content/uploads/2018/11/btcusd-1h-3-1024x515.png


Looking at the hourly chart, you can see that the price action is indicating a downtrend even though it looks like the price has stabilized at around $3782, where the horizontal significant level is serving as support. Since the price interacted with the level for the third time in the last couple of days, currently we are seeing that the price is below the mentioned level.


Continue reading... (https://blog.fxopen.com/btc-usd-and-xrp-usd-still-bearish-but-a-recovery-is-on-the-way/?utm_source=bitcointalk&utm_medium=forum)

LTC/USD

From last Thursday when the price of Litecoin was $35.419 at its open, measured to the current levels on which the crypto is being traded, the price has only decreased by 1.08%. The price did go lower from last Thursdays open, as it was the minor Z wave ending point from which another drop has been made to $27.46 area where the horizontal significant level is.


https://blog.fxopen.com/wp-content/uploads/2018/11/ltcusd-1h-3-1024x534.png



Looking at the hourly chart, you can see that the price interacted with the mentioned level with a spike down on Sunday when the cryptocurrency market was at its lowest from the start of the year. Since the low has been made the price started to recover and has at first came up to the downtrends resistance line where it got rejected. But as the rejection ended with a higher low, enough momentum was picked up for a breakout at the second attempt.



Continue reading... (https://blog.fxopen.com/ltc-usd-and-eos-usd-short-term-recovery/?utm_source=bitcointalk&utm_medium=forum)

BTC/USD

Since our last week’s analysis on Tuesday, November 27, when the price of Bitcoin was at its lowest point at $3759, it has even spiked to $3683, but the hourly candle has closed above leaving a wick.



https://blog.fxopen.com/wp-content/uploads/2018/12/btcusd-1h-1024x478.png



Since that low, which was the lowest price, has been since the start of the year, we saw an increase up to $4416, which was a higher high compared to the previous one at $4169. From there on the price started decreasing and since it came down to the horizontal support level at $4045, price action created a higher low, indicating the start of an uptrend and an ascending channel outline started forming.


Continue reading... (https://blog.fxopen.com/btc-usd-and-xrp-usd-in-a-descending-channel/?utm_source=bitcointalk&utm_medium=forum)

LTC/USD

Since our last week analysis on Thursday, November 29th, when the price of Litecoin was at $35.14 measured to the current levels at around $29.6, the cryptocurrency has decreased in value by 15.87%.


https://blog.fxopen.com/wp-content/uploads/2018/12/ltcusd-1h-1024x483.png


Looking at the hourly chart, you can see that the price didn’t go down in a straight line. Instead, the price fell at first to around $32, which was considered to be a higher high at the time a normal retracement after the upswing that broken the prior downtrend resistance. But as you can see the price increased again after establishing support but failed to exceed the prior high as it came to $35.4 area again and was stopped out.



Continue reading... (https://blog.fxopen.com/ltc-usd-and-eos-usd-reversal-expected/?utm_source=bitcointalk&utm_medium=blog)

BTC/USD


Since last Monday when the price of Bitcoin was at $4178 at the open, the price has decreased by 17.25% measured to the current levels at $3447.9.




https://blog.fxopen.com/wp-content/uploads/2018/12/btcusd-1h-1-1024x512.png



Looking at the hourly chart, we can see that the price broke out from the descending channel on the downside and went below two significant support levels – the downtrend support line 2 (bold black line) and the horizontal support level at around $3439, going to $3306 at its lowest point on last Friday, December 7th.



Continue reading... (https://blog.fxopen.com/cryptocurrency-crash-bitcoin-drops-17-ripple-down-21/?utm_source=bitcointalk&utm_medium=blog)

LTC/USD

At the moment of our last week’s analysis on Thursday, December 6th, the price of Litecoin was around $25.8. From there the price went down to around $23.2 and even spiked further down but the hourly candle has closed above leaving a wick on the hourly chart as you can see below. From there the price went to recover and has increased to $27 but fell again to $23.7.


https://blog.fxopen.com/wp-content/uploads/2018/12/ltcusd-1h-1-1024x479.png


This continued and the price action has formed a triangle, which looks like a bearish pennant considering the price action context. Its resistance line is the support from the previous structure and it was well respected in the past both on the previous structure as support and now as resistance.



Continue reading... (https://blog.fxopen.com/ltc-usd-and-eos-usd-more-downside-expected-2/?utm_source=bitcointalk&utm_medium=blog)

BTC/USD

At the moment of our last week’s analysis on Tuesday, December 11th the price of Bitcoin was $3524.5. As the price was in a downward trajectory it kept falling after a small increase and has broken some minor support trendlines in the process line, the minor uptrend line from the December 7th low and the horizontal support level from that low as well and came down to the next significant horizontal level at $3237, which served as support. This whole down move dating from 9th of December when the price of Bitcoin came up to $3713 at its peak is the corrective wave X, which meant that another increase was to be expected to around the same levels or a bit lower than the hight of the W wave ending point.



https://blog.fxopen.com/wp-content/uploads/2018/12/btcusd-1h-2-1024x510.png



This is exactly what happened as the price of Bitcoin increased by 14% from the horizontal support level at $3237 to $3683, which is close to the vicinity of the W wave ending point. Now, when the price has reached those levels and the Y wave is most likely over, we are seeing a correction and judging by the wick from above the price has encountered the sellers’ territory.


 
Continue reading... (https://blog.fxopen.com/btc-usd-and-xrp-usd-have-recovered-but-for-how-long/?utm_source=bitcointalk&utm_medium=blog)

Litecoin gains 23%, EOS rockets by 43%


LTC/USD
Since Monday when the price of Litecoin was $26.109 at the open, the cryptocurrency has experienced an increase of 23.33% measured to the current levels on which the coin is being traded at $32.2. Looking at the hourly chart, you can see that the Monday’s open was the weekly low so far as the price previously increased from $23, which is the lowest prices has been the whole year to $26.975, where it interacted with the horizontal support level, which served as resistance at $27.74. On the next day, the price broke that horizontal resistance and went on to interact with the next horizontal resistance level at $33.29 and has interacted with it today for the second time.



https://blog.fxopen.com/wp-content/uploads/2018/12/ltcusd-1h-2-1024x458.png



Continue reading... (https://blog.fxopen.com/litecoin-gains-23-eos-rockets-by-43/?utm_source=bitcointalk&utm_medium=blog)

LTC/USD technical analysis

Since the beginning of the year, the price of Litecoin has been in an upward trajectory increasing exponentially from $30.7. LTC/USD reached $34.970 at it’s highest point yesterday, thus, the growth was around 14%. On Thursday, the altcoin price has decreased from $34.38 to the current level of $33.56. Measuring from January, 1 to the current levels, the pair is still up by 9.22%. But we may see further downside as a minor retracement for Litecoin in the upcoming period.



https://blog.fxopen.com/wp-content/uploads/2019/01/ltcusd-1h-1024x480.png




On the hourly chart, after an impulsive 12345 led the price of Litecoin up to $37.146 a correction occurred pushing the price down to $28.7. I have labeled this move as the W wave from the Minute WXY correction which is likely playing out after the impulsive move up. After the W wave was completed and the price action formed a descending channel, a breakout from the upside occurred. This pattern occurred next time as well but on a minor scale. And both times a descending channel was formed making the price escape from the upside.



Continue reading... (https://blog.fxopen.com/ltc-usd-and-eos-usd-downside-expected/?utm_source=bitcointalk&utm_medium=blog)

BTC/USD

From the start of the week, the price of Bitcoin was in an upward trajectory and has come from yesterday’s open at $3580 to $3801 at its highest point yesterday. Since yesterday’s high, the price has been retracing and is currently sitting at $3729, which is an overall increase of 4.07%.

https://blog.fxopen.com/wp-content/uploads/2019/01/btcusd-1h-1-768x359.png

Looking at the hourly chart you can see that the price action has created a minor descending channel in which the price is retracing from the moment it hit the 0.5 Fibonacci level. As the wave structure looks impulsive, I believe that the move to the upside has one more wave to go. That is why after the retracement I would expect the price of Bitcoin to go up to $3880 before this move has ended.

Continue reading... (https://blog.fxopen.com/btc-usd-and-xrp-usd-more-upside-expected/)

Great way to attract visitors to your website. I applaud your hard work and you deserve each of the clicks you get.
However, I want to ask considering the market has been chaotic in the last couple months of 2018 and quite stable since this new year, do you think charts will help us understand the long term or is it more short term gain goal ?

I mean with the upcoming SEC and Nasdaq and Bakkt and so forth, how much do you think charts can tell us, will it be capable of telling us what will happen in the coming months or is it more daily or even hourly help for us ? If it is daily or even hourly maybe it will be understandable but if it is currently just showing them how can we react towards the upcoming things ? Should we stay on bitcoin or even fiat until those go by and we have chance to see what happens before we trade on those days ?

 Thanks a lot for your interest. But we do not do any forecast. We are able to provide our followers with analytics only. We are a true ECN broker :)

LTC/USD


Last Thursday the price of Litecoin was $39.8. From there it started falling down fast as it came from $39,75 to $32,72 at the lowest point on the same day, which is a drop of 17.5%. The price continued its downward trajectory and reached $32.5 on Friday, but the price stabilized around $32.48 level over the weekend and even started increasing on Sunday when it came up to $33.426. But more movement to the downside has been made from there as the price came down to $30.47 on Monday.



https://blog.fxopen.com/wp-content/uploads/2019/01/ltcusd-1h-2-1024x481.png




Continue reading... (https://blog.fxopen.com/ltc-usd-and-eos-usd-showing-signs-of-weakness-with-more-downside-expected/?utm_source=bitcointalk&utm_medium=blog)

BTC/USD and XRP/USD stuck in a range but more downside expected


BTC/USD

From last week’s analysis on Tuesday 15th when the price of Bitcoin was $3761 measured to the current level of $3560, we have seen a decline of 5.32%.
Looking at the hourly chart, you can see that the price of Bitcoin was steadily decreasing from last Tuesday’s price at first. But then later during the day it dropped by 2% in just one hour coming down from $3713 to $3640, where the ending point of the first wave of the previous impulsive move to the upside or Minute W wave, where some support was established. During the rest of the last week, the price has gone sideways and stuck in a range between $3640 and $3723 (interrupted purple lines).
Finally, on Saturday a breakout from the upside occurred and the price of Bitcoin went from the 0.382 Fibonacci level to 0.5, from $3666 to $3801 in the price terms. But since it was the wave Y from the Minute WXY correction, after all, more downside happened. The price started pulling back steadily at first when the resistance at the 0.5 Fibonacci level was encountered. But when it came down to $3769 it started dropping fast and came down to $3546 in a matter of a few hours, but was supported by the buyers, who immediately pushed the price up to $3578 where the hourly candle closed.



https://blog.fxopen.com/wp-content/uploads/2019/01/btcusd-1h-2-1024x461.png




Continue reading... (https://blog.fxopen.com/btc-usd-and-xrp-usd-stuck-in-a-range-but-more-downside-expected/?utm_source=bitcointalk&utm_medium=blog)

LTC/USD


Since last week’s analysis on Thursday 17th when the price of Litecoin was $31.9, the price of the cryptocurrency has been going sideways to $30.755, the lower line from the range, which is stuck, and then to the upper resistance line of the range around $33.742.



https://blog.fxopen.com/wp-content/uploads/2019/01/ltcusd-1h-3-1024x460.png



Looking at the hourly chart, you can see that the price action created a consolidative range, which looks like a descending triangle between the 0.618 and the 0.5 Fibonacci level. The price went above the 0.5 Fibonacci level on Saturday and interacted with the upper line resistance level at $33.742. After an interaction the price fell quickly down to the range support line at $30.755 and stayed around there retesting it again on around Monday.



Continue reading... (https://blog.fxopen.com/ltc-usd-and-eos-usd-one-more-spike-up-before-further-downside-is-expected/?utm_source=bitcointalk&utm_medium=blog)

BTC/USD

Since last week when the price of Bitcoin was $3593 on Monday, the price has increased at first to $3666. It was an upper level from the range where the price was bouncing inside throughout most of the week. Then an attempt has been made to breakout from that range on the upside on Saturday when the price came up to $3705 and spiked even further to $3750. The attempt ended as a fakeout and the hourly candle was left with a huge wick, which entered sellers’ territory and activated the selling. It caused the price to go down back to the support line of the range where it was bouncing before finally. It started breaking out from the range on the downside and has fallen to $3429 at its lowest point today.


https://blog.fxopen.com/wp-content/uploads/2019/01/btcusd-1h-3-1024x464.png




Continue reading... (https://blog.fxopen.com/btc-usd-and-xpr-usd-correction-ended-now-increase-is-expected/?utm_source=bitcointalk&utm_medium=blog)

Looking at the chart is indeed a little bit groggy and makes a little panic, now BTC is still in the range of $ 3456 a slight increase, still anxious will the BTC go down again?
Graph search is quite interesting for you to do.

LTC/USD

Since last Thursday when the price of Litecoin was $32.3 things haven’t changed much as the price is currently at the same levels.



https://blog.fxopen.com/wp-content/uploads/2019/01/ltcusd-1h-4-1024x464.png



Looking at the hourly chart, you can see that this didn’t happen in a straight line as the price of Litecoin went further up and came to $34.254 from last Thursday’s price, which was on the 0.786 Fibonacci level. But since the price encountered resistance there it was rejected and went down to the next horizontal level to find support, which was slightly above the 0.5 Fibonacci level or in price terms at $30.755.



Continue reading... (https://blog.fxopen.com/ltc-usd-and-eos-usd-downside-is-expected/?utm_source=bitcointalk&utm_medium=blog)

BTC/USD

At the moment of the last week’s analysis on Tuesday 29th of January, the price of Bitcoin was $3430 at its lowest point. That was the end of the 3rd wave to the downside from the Minute impulsive move, which is the corrective wave Z of a higher degree Minor count. After this downfall from $3707 ended the 4th wave has begun and the price action created an ascending channel in which a Minuette WXY occurred. The price increased to $3553 at first going higher than the previous lower high on the 4th Minute wave of the 3rd Minute one at $3506 at the 0.618 Fibonacci retracement level and then fell down to $3477, which was a higher low compared to the ending point of the 3rd Minute wave ending point. This was an early indication of the minor uptrend and was continued for another cycle going just slightly above the prior high, but then fell exactly on the same level as the prior low, which is an indication of the momentum slowing down and shifting direction.



https://blog.fxopen.com/wp-content/uploads/2019/02/btcusd-1h-1024x434.png




Continue reading... (https://blog.fxopen.com/btc-usd-increased-by-2-xrp-usd-raised-by-5-for-a-week/?utm_source=bitcointalk&utm_medium=blog)

LTC/USD

From yesterday’s open at $34.755 the price of Litecoin has started plummeting down, falling by 5.66% to its lowest point yesterday at $32.774. Since then, the price has gained some upward traction and is currently sitting at around $34 – slightly below yesterday’s price.



https://blog.fxopen.com/wp-content/uploads/2019/02/ltcusd-1h-1024x461.png


Looking at the hourly chart, you can see that yesterday’s open was the interaction with the ascending channel’s resistance line resulted in a rejection pushing the price strongly below the 0.786 Fibonacci retracement level and below the horizontal resistance zone (interrupted purple lines), which were serving as support on the way up above the 0.786.



Continue reading... (https://blog.fxopen.com/ltc-usd-gained-some-upward-traction-eos-usd-in-a-downtrend/?utm_source=bitcointalk&utm_medium=blog)

BTC/USD

From last week’s analysis on Tuesday, February 5th when the price of Bitcoin was $3501 the price has decreased at first as the resistance there was too strong for it to break out. Then the price has fallen to $3437 where it was hovering around in a minor horizontal range until Friday, when BTC started increasing exponentially and went from $3440 to $3800 at it’s highest spike. It was an increase of 10.5%.

https://blog.fxopen.com/wp-content/uploads/2019/02/btcusd-1h-1-768x362.png

As the price came up to the mentioned levels and interacted with the 0.5 Fibonacci level, we saw a retracement to the 0.328 Fibonacci level on which the price has retested it for support. The price is currently in an upward trajectory. But since there is a strong resistance point above it even if the price action has created a bull flag, we might not see a breakout just yet, as the price needs to establish firm support first.

Read more on FXOpen blog (https://blog.fxopen.com/btc-usd-and-xrp-usd-in-a-minor-retracement/).

BTC/USD

From last week’s analysis on Tuesday, February 12th, when the price of Bitcoin was $3659 at its lowest point, the price has increased by 10.15% from today’s highest point of $4029. The price is currently at $3976.5, lower than the horizontal resistance at $3994.4 where the price has encountered resistance.

https://blog.fxopen.com/wp-content/uploads/2019/02/btcusd-1h-2-768x336.png

Looking at the hourly chart, you can see that the price broke out from the descending channel in which it was retracing since the first increase to the upside made on Friday 8th. The retracement was more of consolidation since we have seen it throughout the last 10 days. Strong momentum was shown as the price broke out many of the significant resistance points to the upside. The most significant one is the bold black line, which is the baseline support since the start of the bear market and was serving as resistance when it got broken on 21st of November last year.

Read more... (https://blog.fxopen.com/btc-usd-and-xrp-usd-a-pullback-before-further-increase-is-expected/)

LTC/USD

From last Thursday when the price of #Litecoin was $51.54 at its lowest point, we have seen an increase of 27.78% measured to yesterday’s highest point of $53.511.

https://blog.fxopen.com/wp-content/uploads/2019/02/ltcusd-1h-1-768x335.png

Looking at the hourly chart, you can see that the price of Litecoin has met my target as the 5th wave fully developed. It came up to the horizontal support zone’s median line and is now serving as strong resistance. The horizontal range has been entered, but since the interaction with the median line yesterday, the price has quickly started falling and came down by 6.76% in a matter of hours, indicating that the price has indeed entered the sellers’ territory.

Read more on FXOpen blog (https://blog.fxopen.com/ltc-usd-and-eos-usd-retracement-expected/).

BTC/USD

Over the weekend the price of Bitcoin has continued its bullish trajectory as another increase was made of around 6.69% and the price of Bitcoin increased from $3994.4 on Friday’s low to around $4260 on Sunday’s highest point. But since the price came to those levels it started falling down fast and came to $3831 at its lowest point yesterday, which was a decrease of 10.16%. The price is currently sitting at $3890, slightly higher than its lowest point yesterday, but also slightly lower than its highest point at $3962.

https://blog.fxopen.com/wp-content/uploads/2019/02/btcusd-1h-3-768x325.png

Looking at the hourly chart, we can see that the price has interacted with the baseline support (bold black line) on yesterday’s low. It was the most significant resistance point to the upside and is the most significant support line from the start of the bear market. The price action created an ascending channel, which could likely end as a retest of the $3994.4 horizontal resistance level. It was broken on the yesterday’s decrease.

Read more on FXOpen blog (https://blog.fxopen.com/btc-usd-and-xrp-usd-bullish-correction-ended/).

Bitcoin fell and rose again to the level of $ 3861, although a slight increase in this seems stable and there are still many things to do to increase investor confidence in bitcoin. Currently, bitcoin travel looks slow but sure and will continue to move to enliven the bear market.

BTC/USD

From last week’s analysis, when the price of Bitcoin was $3925, we have seen stagnation as the price was hovering sideways around those level until yesterday, when another decrease of 3.12% was made from $3906 to $3784.

https://blog.fxopen.com/wp-content/uploads/2019/03/btcusd-1h-1024x450.png

Looking at the hourly chart, we can see that yesterday’s decrease was a breakout from the horizontal range in which the price moved sideways, consolidating after the initial drop of over 10%. The price fell to the most significant support level which is the baseline support since the start of the bear market and has found support there as it retested the level twice before going in an upward trajectory again.

Read more... (https://blog.fxopen.com/btc-usd-and-xrp-usd-bullish-movement-is-corrective-and-more-downside-expected/)

LTC/USD

From Monday when the price of Litecoin was around $46 at the open, measured to its highest point at $58.63, we have seen an increase of 27.52%.

https://blog.fxopen.com/wp-content/uploads/2019/03/ltcusd-1h-1024x449.png

Looking at the hourly chart, you can see that the price has entered the resistance zone once more and has managed to come up to its upper level, even going slightly above it. But since the resistance there was strong the price has started struggling to keep up its bullish momentum.

Previously as we have seen an impulsive move to the upside, which was the Y wave for the WXY correction, I don’t believe that this is the start of a new one. Most likely we are seeing a retest of the previous support for the resistance. Now this happened and I would be expecting a retracement as the price of Litecoin increased by 146.56% from 15th of December when it was around $24.

We might see another attempt for a breakout to the upside, but I wouldn’t expect it to continue for much longer as it will most likely end as a fakeout. According to my count, we have seen the end of the three-wave correction to the upside, so now either a trend continuation should occur or further prolongation of the mentioned correction in a form of the second wave X.

Read also EOS/USD outlook on FXOpen blog (https://blog.fxopen.com/ltc-usd-eos-usd-one-more-high-before-a-retracement/).

So the chance for Litecoin to increase still wide open, right? I think Litecoin soon could reach $60 and I hope that it will happen in the next week. If the bitcoin is not going to down in the next week and could be steady for a while, it will bring new hope for the altcoin because I guess that will be a good opportunity for the altcoin to increase.

Bitcoin and Lite coin are totally different projects with different communities. So, I usually don’t accept the fact that we base the success of a coin on another even though I know that the King of all coins plays some roles too in the rise of other altcoins but if you check the progress of litecoin recently, you will realize they have been performing very well without depending on other coins to pick, so I see their high performance as a result of the strong communities they are gradually gaining again and the push from the project team though I expect the bull run of BTC to affect it positively but not entirely dependent on it.

BTC/USD

Last Tuesday when the price of #Bitcoin was $3783 at its lowest point we have seen an increase of 4.88% as the price was coming up to $3954 until 6th of March. From there the price action continued moving to the upside but in smaller moves, which made an ascending channel that lead the price to the horizontal resistance level at $3994.4. It was first crossed from the upside but this quick fakeout lead to a steep downfall back to the 0.618 Fibonacci level at the $3936 support.

https://blog.fxopen.com/wp-content/uploads/2019/03/btcusd-1h-1-768x339.png

After the price found support there it started increasing again in a five-wave manner and managed to go once again above the $3994.4 resistance line slightly higher than before as it came to $4043 at its highest spike. But since it entered the sellers’ territory another downtrend started in a three-wave manner as the price came down to the first horizontal support from the previous sideways channel at around $3901 at its lowest point today.

Read more on FXOpen blog (https://blog.fxopen.com/btc-usd-and-xrp-usd-outlook-more-upside-expected/).

EOS/USD

From last Thursday the price of EOS was $3.9564 at its highest point the price has been in a minor downtrend and came down to around $3.5 at its lowest point of the week on Tuesday which was a decrease of 11.6%. On Tuesday we have seen an increase of 6.63% as the price came up to $3.7414 at its highest point but again started trending to the downside moving below the 0.5 Fibonacci level again.

https://blog.fxopen.com/wp-content/uploads/2019/03/eosusd-1h-1-768x324.png

The 0.5 Fibonacci level serves as significant support/resistance point as you can see from the hourly chart and now that the price came below it we could see the interaction with the support at around $3.2787 where the first correction ended after the initial drop of over 18% we have seen on 25th of February. After this corrective move to the downside which I have labeled as a Minute WXY we are most likely seeing the second correction in the upside direction which is why after this minor downtrend ends I would be expecting another increase like we saw started on last Monday when the price increased in a five-wave manner to the upside.

Read more... (http://"https://blog.fxopen.com/ltc-usd-increasing-another-lower-low-of-eos-usd-expected/")

BTC/USD

Last week the price of Bitcoin was in a minor in which the price increased by 2.17% – coming from $4057 at its lowest point on Monday to $4145 at its highest spike on Thursday. From there the price of Bitcoin started decreasing fast as it came down to $4004 in a matter of hours which indicated that the sellers are starting to gain control as the price previously came up to the vicinity of the prior high level and found resistance there again.

https://blog.fxopen.com/wp-content/uploads/2019/03/btcusd-1h-3-768x325.png

On the hourly chart, you can see that the price of Bitcoin broke down below the ascending trendline which was the minor trendline from 4th of March and retested it from the downside for resistance last Saturday which cause the price to start moving in a downward trajectory once more.

Read more on FXOpen blog (https://blog.fxopen.com/btc-usd-and-xrp-usd-more-downside-expected/)...

Based on what fundamentals? Litecoin halving?

And indeed BTC tanked yesterday. The movements of all alts followed.

Inverse Head And Shoulders on a short timescale, no third dip to be exspected. Just from a feeling there's a spring season run overdue, in followup of 12 bearish monthes.

LTC/USD

From last Thursday when the price of Litecoin was around $61.58 we have seen sideways movement in a range between the resistance level at $62.5 and the support at $58.2. Today the price has retested the horizontal resistance level of the mentioned sideways range and is currently sitting around $61.613.

https://blog.fxopen.com/wp-content/uploads/2019/03/ltcusd-1h-2-768x336.png

On the hourly chart, we can see that the price of Litecoin ended its five-wave to the upside. It formed a descending structure after. Today the price broke its resistance line but was stopped out at the minor horizontal resistance level with the price currently being in a downward trajectory. As the price is still above the resistance zone I was expecting a retest of its significant level at $57.558 which hasn’t occurred, but the price fell close to it on Tuesday coming to $58.

Read more on FXOpen blog (https://blog.fxopen.com/ltc-usd-and-eos-usd-in-a-corrective-increase/)...

BTC/USD

From yesterday when the price of BTC was at $4163 the BTC/USD pair has increased by 22.7% today measured to the highest point the price has been which is at $5108.

https://blog.fxopen.com/wp-content/uploads/2019/04/btcusd-1h-768x338.png

On the hourly chart, you can see that the price came to the descending trendline on Saturday when the interaction has been made. Then a minor retracement occurred to the 0.786 Fibonacci level where the price found support on a quick spike as it came back to the significant resistance level and was hovering around before finally going above it slightly, retested it from the upside. After that strong momentum was shown to the upside as the price increased impulsively and parabolically.

Read more... (https://blog.fxopen.com/btc-usd-and-xrp-usd-show-strong-bullish-momentum/)

LTC/USD

From last Thursday when the price of Litecoin was sitting around $62.44 until April 2nd, the price was decreasing steadily as it has depreciated by 2.23%, coming to $61. As the price started increasing since Tuesday’s low, strong momentum was shown making the price to increase by 62.68% measured to the highest point the price has been yesterday at $99.231.

https://blog.fxopen.com/wp-content/uploads/2019/04/ltcusd-1h-768x336.png

Looking at the hourly chart, we can see that the price of Litecoin increased parabolically and has come up in a five-wave manner, which in combination with the amount of the increase indicates clear impulsiveness. Now that the price ended its impulsive increase we have seen a corrective decrease of over 18% if we measure to the lowest point the price has been today at $78.155, but the hourly candle closed above the $84.7 leaving a large wick on the hourly chart.

Read more on FXOpen blog (http://"https://blog.fxopen.com/ltc-usd-and-eos-usd-in-a-corrective-decrease/").

LTC/USD

From yesterday when Litecoin was at $81.894 the price hasn’t changed much as its currently being traded at around $81.

https://blog.fxopen.com/wp-content/uploads/2019/04/ltcusd-1h-2-768x318.png

On the hourly chart, you can see that the price of Litecoin has been moving sideways from the 12th of April when a decrease with strong momentum has been made. As the price previously ended its impulsive move to the upside, a correction started developing out of which we have seen three waves. This means that I could have ended with the current structure being a consolidative range before finally the next move to the upside would start.

Read more... (http://"https://blog.fxopen.com/ltc-usd-and-eos-usd-moving-sideways/")

BTC/USD

From yesterday’s low at $5275, the price of Bitcoin has increased by 5.95% as its currently being traded at $5580. The price was moving sideways over the weekend and was in a minor downtrend yesterday, but since it came down to the mentioned low levels it started increasing impulsively.

https://blog.fxopen.com/wp-content/uploads/2019/04/btcusd-1h-3-768x316.png

On the hourly chart, you can see that the price came up to its significant resistance levels out of which the first one is a horizontal and the other is an ascending one. Both are significant as they are the upper outline of the range in which the price action has been stuck in for quite some time now, and considering that they are intersecting around the current levels there we can assume that strong resistance would be found and judging by the looks of the current hourly candle the price might have already encountered it.

Read more on FXOpen blog (https://blog.fxopen.com/btc-usd-and-xrp-usd-more-upside-expected-2/).

LTC/USD

From last week when the price of Litecoin was sitting at $84.4 on Monday’s high, we have seen a decrease of 14.73% measured to yesterday’s low at around $71.9 which is the weekly low so far. The price has recovered slightly from yesterday’s downfall and reached $74.36 at its highest point today but again started decreasing and is currently sitting at around $73.

https://blog.fxopen.com/wp-content/uploads/2019/04/ltcusd-1h-4-768x316.png

On the hourly chart, we can see that the price made a breakout to the downside from the expanding structure that was seen from the 12th of April and that with strong momentum. As previous to the formation of the expanding structure, I have counted a three-wave correction we are most likely seeing its continuation. The expanding structure looked like it could have been the start of the next impulsive move the upside but since a breakout to the downside occurred instead it was most likely the 4th wave out of the same correction.

Read more on FXOpen blog (https://blog.fxopen.com/ltc-usd-and-eos-usd-more-downside-expected-as-the-correction-develops-fully/).

BTC/USD

The price of Bitcoin has been increasing since last week and has come up from $7550 at its lowest point on Thursday, to $8892 at its highest point made yesterday which is an increase of around 18%.

https://blog.fxopen.com/wp-content/uploads/2019/05/btcusd-1h-2-768x316.png

Looking at the hourly chart, you can see that the price of Bitcoin was still inside the territory of the symmetrical triangle made by the corrective 4th wave, last week. As the correction developed fully, establishing support again on the triangles support level another and the final wave has started to develop. This final ending wave of the Minute count and with the 5th wave from the higher degree Minor count. As it hasn’t developed fully another increase would be expected but only as a minor once, potentially reaching $9400 before its completion.

Read more on FXOpen... (https://blog.fxopen.com/btc-usd-and-xrp-usd-another-minor-increase-before-a-downturn-expected/)

BTC/USD

From yesterday’s open at $7581 the price of Bitcoin has increased by 5.76% as it came up to $8017 at its highest point today. Last Friday the price came up to $8140 which was the first significant horizontal resistance level on the way up which is why the price got rejected at those levels and was sent back to the levels from which the increase was made. As today we have seen the price coming slightly lower than on Friday it has gotten close to the significant resistance point again and is currently forming a cluster as indicated by the price action.

https://blog.fxopen.com/wp-content/uploads/2019/06/btcusd-1h-1-768x314.png

Looking at the hourly chart, you can see that the price hasn’t come up above the purple interrupted line which is the mentioned first significant resistance point above which it is considered to be the start of the 2nd wave’s territory out of the presumed five-wave move from Thursday 30th of May. If we are seeing the starting downtrend with the first five-wave move developing to the downside, the price cannot enter the territory of the 2nd wave on the 4th and as the level was respected the likelihood of the starting downtrend in a five-wave manner is highly likely.

Read more on FXOpen blog (http://"https://blog.fxopen.com/btc-usd-and-xrp-usd-downtrend-likely-started-with-the-prices-headed-for-a-lower-low/").

BTC/USD

On yesterday’s open the price of Bitcoin was sitting around $8985 as the price came down to the descending trendline after an interaction was made with the 0.382 Fibonacci level on Sunday. From there the price made another attempt to surpass the Fibonacci level but the interaction again ended as a rejection causing the price to pull back to $9058 at its lowest point today and is currently being traded at $9134.

https://blog.fxopen.com/wp-content/uploads/2019/06/btcusd-1h-2-768x317.png

On the hourly chart, you can see that the price has increased from last Monday and managed to go above two significant horizontal resistance levels – first being at $8140 and the second around $8500, which indicated strong bullish momentum. As the price increased parabolically the next and the most significant horizontal Fibonacci level was reached and has been interacted with for two times with the interactions ending as rejection the price hasn’t managed to break out to the upside.

Read more on FXOpen blog. (http://"https://blog.fxopen.com/btc-usd-and-xrp-usd-strong-resistance-encountered/")

EOS/USD

From last Monday the price of EOS has been in an upward trajectory and has recovered by around 19%, coming from $6 at the open to $7.211 on Tuesday 18th. Since the price reached its weekly high it started decreasing again and has fallen by 8% on the next day coming to $6.67 but is currently trading slightly above at around $6.774.

https://blog.fxopen.com/wp-content/uploads/2019/06/eosusd-1h-2-768x315.png

On the hourly chart, you can see that the price of EOS attempted to break out to the upside on three occasions but the resistance found at $7.211 was stronger than the upward momentum which is why a rejection those levels brought the price down to the first significant horizontal support level at $6.81 around which the price is currently hovering. As this retest of support is currently in play we could see further downfall especially considering that the price failed to keep up the bullish momentum past the minor resistance point.

Read more on FXOpen blog... (http://"https://blog.fxopen.com/eos-usd-and-ltc-usd-struggling-to-keep-up-the-upward-momentum/")

BTC/USD

From last weeks Monday when the price of Bitcoin was sitting at $8986 at its lowest, we have seen an increase of 26.55% measured to the highest point the price has been today which is at $11372. The price continued increasing after yesterday’s pullback of around 4.87% which brought the price down to $10633 and is still in an upward trajectory.

https://blog.fxopen.com/wp-content/uploads/2019/06/btcusd-1h-3-768x331.png

On the hourly chart, you can see that the price of Bitcoin came up to the 0.5 Fibonacci level and has been stopped out at the resistance found on those levels yesterday which is why we’ve seen the formation of the horizontal sideways range. But the pullback was only a minor one as the price continued increasing steadily after the retracement and is currently attempting to break out to the upside above the significant resistance point.

Read more (https://blog.fxopen.com/btc-usd-continues-increasing-while-xrp-usd-showing-signs-of-weakness/) on FXOpen blog...

BTC/USD

From last Tuesday when the price of Bitcoin came down to $9833 at its lowest point we have seen an increase of 30% measured to the highest point the price has been today which is at $12814. The price is currently being traded at $12348 and even spiked further down to $12119 at its lowest point today.

https://blog.fxopen.com/wp-content/uploads/2019/07/btcusd-1h2-768x316.png

Looking at the hourly chart you can see that the price of Bitcoin came up above the ascending trendline zone which served as resistance on the way up and has retested it on today’s spike to the downside and found support there which indicates that the trendline zone is still serving as a significant pivot point. The price came down last Tuesday in a three-wave manner after which a five-wave increase has been seen forming a lower high with the price going below the ascending range and the 0.5 Fibonacci level.

Read more on FXOpen blog. (http://"https://blog.fxopen.com/btc-and-xrp-the-prices-recover-but-for-how-long/")

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https://static.forexcup.com/Images/Pages/2016/the-lord-of-the-crypto-700x355-en..jpg

“The Lord of the Crypto” is a free demo contest for crypto fans. The contest will last for four weeks from August 12 till September 6. The winners will receive valuable prizes for a total of 3000 USD. 39+ cryptocurrency pairs with Bitcoin, Litecoin, Ethereum, Dash, Emercoin, Ripple, EOS, NEO, and etc. are available for trading.

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Conditions of the contest:

• dates: August 12 - September 6, 2019;
  
• registration is already open and will last until August 25, 2019;
  
• prize fund: 3,000 USD;
  
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• EAs: allowed;
  
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• lot volume: from 0.10 to 1.00 (maximum 1 lot per order);
  
• trading instruments: 39 pairs with BTC, ETH, XRP, BCH, ETC, LTC, etc.;
  
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• total trades minimum quantity: 10;
  
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• maximum number of trades opened at a time (including pending orders): 5;
  
• to get the prize, you have to increase the initial deposit by at least 10%.
  

GET REGISTERED (http://"https://www.forexcup.com/tournaments/the-lord-of-the-crypto-4?join=true")

Prize money:

The prize money will be added to your account in any cryptocurrency available with FXOpen at the exchange rate at the moment of prize crediting or in USD.

Please note that 50% of prize cannot be withdrawn and is intended only for trading on Crypto accounts. To get the money, you will have to open a Crypto account by yourself and email us its number at info@Forexcup.com (http://"info@Forexcup.com"). The profit from trading can be withdrawn at any time via any payment system available with FXOpen. You should also pay attention to the competition rules, violation of which would lead to disqualification.

• 1st place - 1050 USD (525+525);
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How to join the contest on demo accounts?

Newbies should register an account with FXOpen (http://"https://my.fxopen.com/en/Registration/") or ForexCup (http://"https://www.forexcup.com/registration/"), make sure that the "First Name" and "Last Name" fields are filled in in the section Settings → Profile (http://"https://my.fxopen.com/en/Settings/Personal/") and join the contest (http://"https://www.forexcup.com/tournaments/the-lord-of-the-crypto-4?join=true") with your account data.
Existing clients should make sure that the "First Name" and "Last Name" fields are filled in in the section Settings →  Profile (http://"https://my.fxopen.com/en/Settings/Personal/") and join the contest (http://"https://www.forexcup.com/tournaments/the-lord-of-the-crypto-4?join=true") with your account data.

Source: FXOpen News. (http://"https://www.fxopen.com/en/about-us/news/join-a-free-forex-demo-contest-the-lord-of-the-cr?utm_source=bitcointalk&utm_medium=post&utm_campaign=fxopen_news&utm_content=fxopen_ru_31_08_2019")

LTC/USD

From Monday’s low at $88.63, the price of Litecoin has increased by 12.64% measured to its highest point today at $99.837.On the hourly chart below, you can see that the price of Litecoin found resistance at the minor horizontal level and has got rejected which is why the price has started decreasing and is currently being traded at $96.6.

https://blog.fxopen.com/wp-content/uploads/2019/08/ltcusd-1h-768x330.png

The price of Litecoin has fallen to the significant horizontal support level at $86.48 where it found support after a 16.9% decline after the first interaction with the same horizontal resistance level with whom it has interacted today as well. This interaction was the first wave out of the expected recovery after a complex correction ended which is why the next one was a retest of the support level and now that the price has started moving to the upside again, we are likely seeing the development of the 3rd wave.

Read more on FXOpen blog... (http://"https://blog.fxopen.com/ltc-and-eos-further-recovery-expected-before-the-downtrend-continues/")

LTC and EOS – Recovery soon expected but decline is yet to end

LTC/USD

Last Thursday the price of Litecoin was sitting at its lowest levels the price has been since 29th of April as it was $71.1 but from there started recovering until Monday when it came up to $78.87 at its highest. From Monday we’ve seen another decrease with the price making a slightly lower low compared to the last week’s one but is currently sitting at $73.867.

https://blog.fxopen.com/wp-content/uploads/2019/08/ltcusd-1h-3-1024x480.png

EOS/USD

Last week on Thursday the price of EOS was sitting at $3.31 at its lowest spike from where we’ve seen a 14% recovery until Monday when the price reached $3.78 at its highest. But from Monday we have seen another downtrend developing with the price moving back to the last week’s low vicinity above which it is currently being traded at $3.588.

https://blog.fxopen.com/wp-content/uploads/2019/08/eosusd-1h-3-1024x481.png

Read more analysis on LTC/USD, EOS/USD and other pairs FXOpen blog (http://Read more analysis on LTC/USD, EOS/USD and other pairs FXOpen blog)

BTC/USD

Last Tuesday the price of Bitcoin was sitting at $10,948 which was the first lower high after an attempt for interaction with the 0.382 Fibonacci level. As the price was in a downward trajectory it fell by 10.18% moving slightly below the symmetrical triangle’s support level but the price found support there and started recovering. The recovery which followed has been stopped out at the 0.236 Fib level on two occasions which is why we are seeing the price being struck in this range and is forming a cluster.

https://blog.fxopen.com/wp-content/uploads/2019/08/btcusd-1h-3-1024x478.png

XRP/USD

The price of Ripple has been attempting to hold above its lower horizontal support level at $0.26617 which is below the significant one at $0.29450 and has formed a symmetrical triangle which could be interpreted as a bearish pennant. The pennant is known as a trend continuation pattern which is why we could see a breakout to the downside but the price of Ripple is at its lowest levels since September last year and has fallen by over 50% from its yearly high which is why we could see the level holding with the recovery to the upside starting soon.

https://blog.fxopen.com/wp-content/uploads/2019/08/xrpusd-4h-1024x480.png

For detailed analysis, read FXOpen trading blog (https://blog.fxopen.com/bitcoin-and-ripple-a-breakout-to-the-downside-looks-close/)

BTC/USD

Last Monday the price of Bitcoin was $10503 and spiked further to $10675 at its highest point. From there the price has decreased by 10.41% as it came down to its lowest point at $9417.9 on Thursday. As the price came down to its significant horizontal support level last Thursday and found support there a recovery has been seen of around 11% as it came up to the same levels as on last Monday.

https://blog.fxopen.com/wp-content/uploads/2019/09/btcusd-1h-1024x479.png

As you can see from the hourly chart, the price has started to break out to the downside from the symmetrical triangle which was formed since the 26th of June but it found support on the previous low levels at 0 Fibonacci line which has caused a bounce to the 0.236 Fib level and is currently retesting the broken triangle’s support.

XRP/USD

The price of Ripple was $0.27788 at its highest point on Monday from where we’ve seen a decrease of 10.34% at its lowest point to $0.249 made on Thursday but as the price came down to its lower horizontal support level and found support there a minor recovery has been seen of around 6% as the price came up  to $0.2645.

https://blog.fxopen.com/wp-content/uploads/2019/09/xrpusd-1h-1024x480.png

Looking at the hourly chart, you can see that similarly like in the case of Bitcoin the price of Ripple has broken out off of the symmetrical triangle and started moving to the downside but made a recovery to its broken horizontal level for a retest.

Read more on FXOpen Forex and Cryptocurrency Blog (https://blog.fxopen.com/btc-usd-and-xrp-usd-recover-but-for-how-long/)

LTC/USD

From last Friday when the price of Litecoin has been sitting around $62.332 at its lowest point we have seen an increase of 13.61% until Tuesday when it came up to $70.8 at its highest point but is currently sitting at $67 as a minor retracement occurred.

https://blog.fxopen.com/wp-content/uploads/2019/09/ltcusd-1h-1024x479.png

Looking at the hourly chart, you can see that the price attempted to make a recovery above the $69 horizontal level but the attempt ended as a fakeout with the price currently retesting its support point made by the intersection of multiple trendlines.  After the price continued moving below the $69 level it hasn’t continued doing so for much longer before recovery started which could indicate that we’ve seen the ending wave from the five-wave move to the downside that started on the 22nd of June at the yearly high.

EOS/USD

From last Thursday when the price of EOS was sitting at around $3 at its lowest point we’ve seen a recovery of 12.3% until Tuesday this week when the price came up $3.45 at its highest. The price is currently being traded at around $3.27 as a minor retracement occurred to the horizontal support level which was broken on the way down

https://blog.fxopen.com/wp-content/uploads/2019/09/eosusd-1h-1024x478.png

On the hourly chart, you can see that the price has managed to move back up above the significant horizontal level and is now retesting it for support which is why if the support is shown as present the recovery might continue. From the 25th of July, we’ve seen the price moving in a descending channel inside which this price is still hovering.

Read more on FXOpen cryprocurrency trading blog (https://blog.fxopen.com/ltc-and-eos-recovery-seen-but-it-could-be-still-a-corrective-one/)

BTC/USD

Last week on Monday the price of Bitcoin was sitting at $9723.8 at the open from where we’ve seen an increase of 12.11% until Friday’s high when the price reached $10901 at its highest point. From Friday’s high the price has depreciated by 6.71% to Monday’s low at $10172 and but has recovered since and is currently sitting slightly above at around $10271.

https://blog.fxopen.com/wp-content/uploads/2019/09/btcusd-1h-1-768x359.png

Looking at the hourly chart, you can see that the price is still above the upper descending trendline which serves as support but has fallen below the 0.236 Fibonacci level and is forming a cluster. As the interaction with the 0 Fib line ended as a retest of the support level with the price finding support an increase of over 15% occurred but this increase mighty still be corrective before we see a strong downward move, especially considering that the price came up above the symmetrical triangle’s resistance level and attempted to break out to the upside but found strong resistance there and pulled back inside the triangles territory.

Read more on FXOpen blog... (http://"https://blog.fxopen.com/wp-content/uploads/2019/09/btcusd-1h-1-768x359.png")

LTC/USD

From Monday’s open at $70.7 the price of Litecoin has been moving sideways and retesting the horizontal support level at $69 along the way around which the price is currently being traded again. Last week the price has been trading below the horizontal level until Saturday when a breakout above it has been seen. As the price managed to stay above the level and made a higher high it looks like the support has been established but another confirmation will soon be seen.

https://blog.fxopen.com/wp-content/uploads/2019/09/ltcusd-1h-1-768x360.png

On the hourly chart, you can see that from the start of September the price has been rising after a significant downfall which pushed the price below the significant horizontal level. Price action has made a rising wedge pattern which could be interpreted as another corrective pattern before further downtrend continuation especially considering that the price hasn’t entered the territory above the upper support level at $72.4 from which the impulsive downfall was made on the 28th of August.

Read more on FXOpen blog... (http://"https://blog.fxopen.com/ltc-and-eos-further-increase-expected/")

LTC/USD

On Monday’s open, the price of Litecoin has been trading at $70.278 and from there increased by 14.2% measured to the weekly high made yesterday at $80.26 at its highest point. Since yesterday’s high, we’ve seen a decrease of around 9% as the price fell to $72.96 at its lowest point today but is currently being traded at $74.5.

https://blog.fxopen.com/wp-content/uploads/2019/09/ltcusd-1h-2-768x359.png

Looking at the hourly chart, we can see that the price of Litecoin broke out to the upside from the horizontal resistance level at $72.4 which is why today we’ve likely seen a retest of the level for support. Prior to the breakout, the price of has been ranging in a horizontal manner but is overall on the rise since the start of September.

Read more on FXOpen blog... (http://"https://blog.fxopen.com/ltc-and-eos-first-signs-of-a-recovery/")

LTC/USD

From Monday’s open at $54.64 the price of Litecoin has increased by 5.34% at its highest point of the week made on Tuesday when the price retested the $57.558 level which was broken on the way down. Currently, the price is being traded slightly lower at around $55.72 as it was mostly been moving sideways since the start of the week.

https://cryptocurrencytalk.com/applications/core/interface/imageproxy/imageproxy.php?img=https://blog.fxopen.com/wp-content/uploads/2019/10/eosusd-1h-768x360.png%2520&key=9960fcdb79f572d593a97ecde8427f36cb8cf962f1b492d4e842cb769f714a54

Looking at the hourly chart, you can see that the price of Litecoin most likely ended its five-wave move to the downside on the $52.427 horizontal level which is a major pivot level and was considered as the median line of the support zone with the $57.558 being its upper level. As the price came down inside this support range we are seeing the price retesting the levels before the next decisive move.

Read more on FXOpen blog... (https://blog.fxopen.com/ltc-and-eos-moving-sideways-but-for-how-long/)

BTC/USD

The price of Bitcoin has been stuck in a horizontal range since last Monday when it fell to $7758 with strong bearish momentum which is the support level of the mentioned range and retested the $8500 level which is its resistance. This horizontal range could be interpreted as a consolidative range after a breakout has been seen from the descending triangle but it is still unclear whether or no the price headed further to the downside from here or are we going to see the recovery starting soon.

https://blog.fxopen.com/wp-content/uploads/2019/10/btcusd-1h-1-1024x480.png

On the hourly chart, you can see that the price of Bitcoin made a three-wave move from the presumed X wave of the 3rd WXY correction. The downfall might have ended on the 3rd wave but considering the impulsiveness seen it more likely that we are in for another low as the price action could develop in a five-wave manner. If this is true then the currently seen range would be its 4th wave which is corrective in nature and will end as a retest of the broken $8500 support level.

Read more technical analysis on BTC/USD and XRP/USD cryptocurrency pairs on FXOpen Forex blog (https://blog.fxopen.com/btc-and-xrp-lower-lows-expected-but-a-recovery-is-soon-to-start/)

LTC/USD

From Monday’s low at $53.83 the price of Litecoin has increased by 11.3% measured to the highest point the price has been yesterday which is at $59.939. Currently the price is being traded slightly lower at $57.9 as the price reached started decreasing from yesterday’s high.

https://blog.fxopen.com/wp-content/uploads/2019/10/eosusd-1h-1-768x360.png

On the hourly chart, you can see that the price has decreased as a result of the resistance rejection which was made yesterday with the ascending channel’s upper level in which the price has been consolidating since the 27th of September. Looking at the wave structure from the 27th’s low we have seen 3 three-wave corrections playing out which could be a WXY correction of a higher degree in which case yesterday’s interaction would be its ending wave.

Read more on FXOpen blog (https://blog.fxopen.com/ltc-and-eos-ascending-channels-could-mean-further-downside/).