Bitcoin Enters Bullish TerritoryBitcoin 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.  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...
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Bitcoin, Litecoin Barely ChangedBoth 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 PercentBitcoin 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.  Want to read more about cryptocurrencies? Look in our blog
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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.  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
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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 LowsAs 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.  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... |
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Ether Still in DowntrendEther 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.  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.
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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 DecisionBitcoin 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.  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... |
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After a long period of consolidation, Ether entered a downtrend vs BTC. Meanwhile Dash continued the bearish trend from the week prior. Ether Enters DowntrendWe 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.  Continue reading... |
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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 BitcoinBitcoin 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.  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... |
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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 AnalysisGold 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.  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... |
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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 SupportEther 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.  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... |
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Bitcoin Drops, Litecoin FollowsYesterday 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 HighsBitcoin 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.  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...
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FXOpen cut spreads. Screenshot was made today on a real ECN account.  |
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ETHER LITTLE CHANGED, DASH DOWNBoth 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 ChangedEther 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.  Continue reading...
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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 SupportAfter 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.  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... |
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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 LowsBitcoin 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.  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... |
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Some Gains Across Crypto MarketThe 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 RemainsBitcoin 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.  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...
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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 StatementAt 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.  Continue reading... |
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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 LowsBitcoin 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.  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... |
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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 RangeAfter 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.  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... |
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Bitcoin, Litecoin Slightly HigherBoth 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.  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...
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