BTC/USD

Last Friday, the price of Bitcoin has been sitting around $7913 at its lowest point as it was in a downtrend all throughout last week. But since the price retested the 1.272 Fibonacci level it started increasing again and managed to recover by 4.72%, coming to $8300 at its highest point today.

XRP/USD

From last week when the price of Ripple came up to around the significant horizontal level at $0.29405, we have seen the price moving sideways. Currently, it is above the level and in an upward trajectory, but we can’t say that a breakout has been seen as it failed to exceed the prior high, made on the first attempt.

Read more: https://blog.fxopen.com/btc-usd-and-xrp-usd-showing-sings-of-bullishness/

BTC/USD

Last Friday, the price of Bitcoin has been sitting around $7913 at its lowest point as it was in a downtrend all throughout last week. But since the price retested the 1.272 Fibonacci level it started increasing again and managed to recover by 4.72%, coming to $8300 at its highest point today.

XRP/USD

From last week when the price of Ripple came up to around the significant horizontal level at $0.29405, we have seen the price moving sideways. Currently, it is above the level and in an upward trajectory, but we can’t say that a breakout has been seen as it failed to exceed the prior high, made on the first attempt.

Read more: https://blog.fxopen.com/btc-usd-and-xrp-usd-showing-sings-of-bullishness/

LTC/USD

From last Wednesday when the price of Litecoin reached $59.991 at its highest point measured to today’s low at $51.864 we have seen a decrease of 13.55%. As you can see from the hourly chart below the price came up last week to the ascending channels resistance level and got rejected like expected which is why we have seen the move to the downside below it’s support level.

EOS/USD

The price of EOS has been in a downtrend from last Wednesday like Litecoin and has decreased by 13.81% coming from Wednesday’s high at $3.319 to $2.86 at its lowest point today.

Read more: https://blog.fxopen.com/ltc-and-eos-ascending-channels-were-corrective/

LTC/USD

From last Wednesday when the price of Litecoin reached $59.991 at its highest point measured to today’s low at $51.864 we have seen a decrease of 13.55%. As you can see from the hourly chart below the price came up last week to the ascending channels resistance level and got rejected like expected which is why we have seen the move to the downside below it’s support level.

EOS/USD

The price of EOS has been in a downtrend from last Wednesday like Litecoin and has decreased by 13.81% coming from Wednesday’s high at $3.319 to $2.86 at its lowest point today.

Read more: https://blog.fxopen.com/ltc-and-eos-ascending-channels-were-corrective/

BTC AND XRP – ARE WE SEEING THE START OF THE RECOVERY?

BTC/USD

From last Monday when the price of Bitcoin was sitting at $7805 at its lowest point we have seen an increase of 12.73% measured to the highest point made on Friday which was at $8805. Since then the price started decreasing again and is currently sitting at $8333 and is now moving sideways.

XRP/USD

The price of Ripple has reached its significant horizontal resistance at $0.29405 today but is currently being traded below it as interaction ended as a rejection. From last Friday when the price was trading at $0.2659 we have seen an increase of 12.48% as the price has been developing its 5th wave to the upside.

Read more: https://blog.fxopen.com/btc-and-xrp-are-we-seeing-the-start-of-the-recovery/

BTC AND XRP – Are We Seeing The Start Of The Recovery?
BTC/USD

From last Monday when the price of Bitcoin was sitting at $7805 at its lowest point we have seen an increase of 12.73% measured to the highest point made on Friday which was at $8805. Since then the price started decreasing again and is currently sitting at $8333 and is now moving sideways.

XRP/USD

The price of Ripple has reached its significant horizontal resistance at $0.29405 today but is currently being traded below it as interaction ended as a rejection. From last Friday when the price was trading at $0.2659 we have seen an increase of 12.48% as the price has been developing its 5th wave to the upside.

Read more: https://blog.fxopen.com/btc-and-xrp-are-we-seeing-the-start-of-the-recovery/

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.



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.

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.



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

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.



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...

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.



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...

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.



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...

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.



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...

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.



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



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

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.



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.



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

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.



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.



For detailed analysis, read FXOpen trading blog

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.



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.



Read more analysis on LTC/USD, EOS/USD and other pairs FXOpen blog

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.



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...

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JOIN THE CONTEST

Conditions of the contest:

• dates: August 12 - September 6, 2019;
  
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Prize money:

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Newbies should register an account with FXOpen or ForexCup, make sure that the "First Name" and "Last Name" fields are filled in in the section Settings → Profile and join the contest with your account data.
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Source: FXOpen News.

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.



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.

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.



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 on FXOpen blog...