LTC/USD and EOS/USD more downside expectedOn 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.  Continue reading...
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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 AgainAs 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.  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... |
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BTC/USDLast 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%.  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...
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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.
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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 WeakThe 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.  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... |
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BTC/USDSince last Tuesday the price of Bitcoin has increased by 2.41%, coming from $6327 to the current level at $6484.5.  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...
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And follow the latest news in the world of cryptocurrency with FXOpen. One of the leading broker in the industry. We provide our traders with 43 pairs with BTC, ETH, BCH, EOS, Ripple, Monero, ETC, LTC, etc.  |
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And follow the latest news in the world of cryptocurrency with FXOpen. One of the leading broker in the industry. |
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The Bias for LTC/USD and EOS/USD is Short-term BullishLTC/USDFrom 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.  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...
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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.  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... |
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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.  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... |
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XRP/USD and EOS/USD showing potentially short-term increase but an outlook is grimXRP/USDLast 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%.  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....
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LTC/USD AND EOS/USD IN A BEARISH PENNANT LTC/USDFrom Monday’s spike at $62 the price of Litecoin has retraced by 11.8% as its currently trading at $54.73.  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... |
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BTC/USDFrom 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.  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...
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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 SupportEther 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.  Continue reading... |
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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! |
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Litecoin Bounces at Support, Trend DownIt 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 ChangedBitcoin 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.  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...
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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 LowsOn 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.  Continue reading... |
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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 PercentAs 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.  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... |
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