EOS/USDFrom 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.  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...
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BTC/USDOn 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.  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.
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BTC/USDFrom 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.  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.
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BTC/USDThe 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%.  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...
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LTC/USDFrom 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.  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.
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BTC/USDFrom 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.  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.
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LTC/USDFrom yesterday when Litecoin was at $81.894 the price hasn’t changed much as its currently being traded at around $81.  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...
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LTC/USDFrom 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.  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.
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BTC/USDFrom 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.  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...
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LTC/USDFrom 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.  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...
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BTC/USDLast 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.  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...
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EOS/USDFrom 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.  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...
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BTC/USDLast 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.  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.
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LTC/USDFrom 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%.  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.
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BTC/USDFrom 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.  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...
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BTC/USDOver 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.  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.
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LTC/USDFrom 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.  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.
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BTC/USDFrom 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.  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...
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BTC/USDFrom 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%.  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.
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LTC/USDFrom 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.  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...
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