Daily price analysis BTC + ALTCOINS

[bitcoinrays]

I think this bitcoin price analysis will never be predictable, usually the price will be predictable when it has happened like this and I think it is too late and not very useful because it is very difficult to predict the price movements of bitcoin and altcoin.

The price of Altcoin right now is also running in their lowest markets same to that of the price of Bitcoin is also in its low market. Ethereum has also declined to 200 US dollar value from 500 US dollar value which is a big decreased for it. If we take Bitcoin its value if even drops at low stage is many times higher than that of other currencies.

[putrii]

I think that the daily analysis on bitcoin and altcoin will not be used as a benchmark forever because these prices and graphs can be analyzed when they have occurred so that they cannot predict what will happen in future price movements.

[raidarksword]

Graphs show the downtrend of bitcoin and other altcoins in the market but let's just assumed that bitcoin can comeback anytime soon and bring along the alt coins as well. It may seemed that as of today bitcoin and ethereum are gaining slowly and doing uptrend. Even xrp got the second spot temporarily but ethereum don't want to sit in the third place, so ethereum grabbed the second spot again. These shows we are moving closer and gaining the uptrend momentum.

[Dany44]

Bitcoin managed to hold the price and it has the potential to go higher, Ethereum makes higher highs & higher lows, Litecoin is above the last major trendline



Bitcoin managed to hold the price and it has the potential to go higher

Over the weekend BTC stayed below the strong area (blue line) at $6,767. There were eight attempts to break above but all of them failed.



Since Sept. 6, BTC traded between $6,100-$6,500 and on Sept. 21st it made a breakout upwards. Currently, when we had several unsuccessful attempts to break the strong resistance level at $6,767 we got a bounce downwards, this bounce almost touched the $6,500 area which is the perfect scenario if we want to see a bullish Bitcoin. The perfect breakout trade = breakout + retest the breakout area and technically it is ready to climb higher/lower depending on the breakout.

The bounce was supported with EMA's on the four-hour chart. It touches all the important EMA's (50, 100, 200) and after the bounce upwards it closed on the green, which gives us a bullish candlestick pattern called "Hammer.”

To give a weekly overview and weekly direction then, there are several bullish signs on the higher timeframe:

* Weekly candle close was pretty bullish, its a "Hammer" or a sloppy "Hammer" candlestick pattern

* Daily is above 50 EMA, it has a retest and bounce already

* Four-hour, BTC trade above the EMA's and 50 and 100 EMA made a golden cross (which is a bullish sign).

So, we might see a bullish Bitcoin, but currently, we have to take down that strong resistance level at $6,767. To give you a bearish view, if Bitcoin price goes lower than $6,500 then this could be a bad sign because then we are in the consolidation area again. If this happens we don’t know where it is going to break next, several times we have seen a break upwards (luckily) but the next one could be downwards. So, if we move down between $6,000-$6,500 please be cautious.

Ethereum makes higher highs & higher lows but...

After the dump on the Sept. 12th, Ethereum has made a recovery over the 40 percent.

Currently, on the four-hour chart, it makes higher highs and higher lows but those HH & HL are just on the short-term timeframe because September’s high is still far away. In order to confirm a higher high (long-term), we have to climb upwards and break above the round number area $300.



At the moment, ETH price fights with the August low and the semi-round number area which works as a resistance at $250, plus we have a 200 EMA above us which also works as a resistance.

Just a little throwback downwards gave us a bearish chart pattern/continuation pattern "Rising Wedge" (...and the overall trend is down, then the pattern starts to work correctly if we make a breakout downwards).

If we manage to break upwards from this "Rising Wedge" then like we said our first target is around $300. However, to get there ETH has to break a strong level of around $275 and one orange resistance zone, the road above $300 is not easy but it's definitely doable.

If we break downwards from the continuation pattern "Rising Wedge" then the pattern starts to work and confirms that bearish momentum if we get a candle close below the lower black trendline! Also, if we break it soon, then there is also other trendlines and support areas (brown line and blue line), closes below those levels and lines confirms bearishness, let's say a candle close around $210.

Take a look at Litecoin Price Analysis, Sept. 24, 2018
Have a nice day!

[Dany44]

Bitcoin is on the risky area, if the market shows some stability NEM will explode, Ripple possible bounce area



Bitcoin is on the risky area

After last week’s rise, BTC makes a throwback (downwards move). As we said yesterday, if we drop below the round number $6,500 then we could be in trouble.



This grey area on the image is the consolidation area where Bitcoin searches for direction and this is an area where the big guys don't hide their moves, historically very big shake offs are in this area.

If we want to see a bullish BTC then it has to make a reversal some time soon. Currently, we are on the blue line which is a strong support level from our well-known support in this price zone. BTC price touched $6,400 and got a bounce, the bounce occurred upwards from the April low level and also from the Fibonacci 62 percent retracement level (pulled from Sept. 17 to Sept. 22).

Like we said, Bitcoin is on the risky area, where the breakout may happen in either direction. From this area, we have made the breakouts upwards multiple times, above the $6,500 area but now, we have a little premonition. We don't want a close below the bottom channel black trendline (the major counter-trendline), so, a close around $6,300 would be bad because if we break that major counter trendline then it will confirm the trend will continue and the overall trend is down! The full confirmation would be a candle close outside that grey area and if we get a close below that box then the $6,000 support level definitely won’t hold us.

NEM (XEM/USD)- Waiting for the big move upwards

Currently, NEM price is below the round number of $0.1 which works as a resistance. NEM has managed to break above the nearest down-trendline which now works as a support. This is a pretty significant sign because NEM has been on the big downtrend and it has not shown any big recoveries and big pumps.



Remember what Ripple did, it exploded and from a technical perspective, one possible reason was that it was very far from the major down-trendline (not like other altcoins). As NEM stands right now, it is also far away from the major down-trendline and the possible pump may happen soon if the market starts to show some stability.

To be bullish we have to break above the round number and we have to make a short-term higher high (the green box higher high confirmation box). These first steps will guide us to the higher levels:

* Blue line around $0.116- it is historically worked as a support and resistance level and the price has made reversals and stops in this price level.

* The second one is around $0.14- there we start to catch some monthly levels and we need pretty good power to push through because 200 EMA comes into the play

* The final target would be the major down-trendline (+100%).

The red box will confirm bearishness and is the area where you want to consider to sell your NEM. If we get a candle close below the main counter trendline and below the "nearest down-trendline" then it would be bearish confirmation and NEM would probably go and test the lower levels.

Take a look at Ripple (XRP/USD) Price Analysis, Sept. 25, 2018
Have a nice day!

[Dany44]

Bitcoin finds a short-term support from the Fibonacci level

Bitcoin price is almost on the same price level as yesterday but we have gathered more information from the current level, and currently, those signs are short-term bullish indications.



Yesterday, the lowest point was around $6,330 where the price touched the perfect Fibonacci retracement level of 62 percent and bounced upwards. After the bullish bounce, we got a bullish candlestick pattern called "Marubozu," which will indicate that we may see a continuation move upwards. Bitcoin has broken above the April low level and is now fighting with a strong resistance area around $6,460.

From the price structure perspective, this bounce occurred from a 'healthy' place, because Bitcoin made a short-term HL (higher low) which is very important if we want to see a bullish BTC.



In the shorter timeframes, we could see a nice bullish chart pattern called "Inverted Head & Shoulders.” It shows that we have the momentum from the perfect Fibonacci level and it works nicely as a support level. BTC price also made a breakout from the neckline and technically it is ready to go higher but there is nothing clear before we are above those well-known resistance levels (Blue line- strong resistance, $6,500 round number which works as a resistance and the March low level which also starts to work as a resistance).

Monero (XMR/USD) shows overall strength

Monero shows us a pretty smooth and steady climb upwards. It has made very clean higher lows which will indicate that the current short-term trend is strongly upwards.



At the moment, XMR price is below the main down-trendline which works as a resistance, also there is a 50 & 100 EMA and they do the same thing.

Like you know, we have clean higher lows and also we have a bullish indication from the EMA's. On the chart you can see that the 200 EMA is below the 100 EMA, this means that we have a golden cross between the mentioned EMA's and this is a nice indication if we break above the major trendline that the climb will continue. The first targets would be the nearest resistances above us (green 'boxes'), the first one is around $128 and the second one is around $140.

Speaking about support levels and bearish confirmations, then the 200 EMA is below the current price (currently, this is a pretty rare case that the price is above the 200 EMA and this is a pretty strong sign that the coin has the power to hold the price after those dumps) which works as a support. If we break below that then we will have a major counter trendline around $105-$107. The trendline is a remarkable spot where we want to see a bounce upwards if we want to stay bullish, but if we got at least a four-hour candle close below that trendline then it would be a bearish sign and the down pressure is very strong. At that point, you have to be cautious.

Take a look at NEO (NEO/USD) Price Analysis, Sept. 26, 2018
Have a nice day!

[Dany44]

Bitcoin important areas what you need to watch, Dash is under the major trendline, Ethereum has a breakout from the bearish chart pattern



Bitcoin important areas, what you need to watch

Yesterday, we discovered a bullish chart pattern called "Inverted Head & Shoulders", the right and the left shoulders were located precisely on the perfect Fibonacci retracement level at 62 percent, and after we made a break above that blue support/resistance line where the price made a pretty nice jump upwards. From the price structure perspective, this bounce occurred from a 'healthy' place, because Bitcoin made a short-term HL (higher low) which is very important if we want to see a short-term bullish BTC.



So, this pattern worked almost perfectly and BTC price reached $6,560. However, now it has a second phase, we started to make a retest to the pattern neckline. Overnight we got a retest and after that, on the one-hour timeframe, it formed a bullish candlestick “Hammer” pattern, with a little bounce upwards above $6,500 where the momentum stops. Currently, we are approaching for the second time this strong support area (blue line) and the Fibonacci 38 percent retracement area but let's see if this level holds the price because there are technically some bad signs. We are below the short-term up-trendline and this could start playing a role in this bounce.

Technically it is ready to go higher if we get a bounce from the strong support level but there is nothing clear before we are above those well-known resistance levels ($6,500 the round number which works as a resistance and March low level which also starts to work as a resistance, plus we have the EMA's above the current price, it should confirm bullishness if we can make a break above them).

If BTC manages to break above those resistance levels and it gets a close on the green box, then we are out of the risky area which will indicate that we might go and test the higher levels.

The first target would be the strong resistance at $6,767 and the second target would be around $7,000. Between those levels are the well-known Fibonacci level 62 percent around $6,900, lots of people are guessing that this might be the place where we go down again, but I think opposite: this is just so well-known price level, everybody knows it and if it reaches into this area then it flies above.

To give to you bearish confirmations then it would be those red 'boxes.’ The first one is a break below the major counter trendline, if we get a break below the trendline then it will show that the short-term up trendline doesn't work as is should and the downward pressure is still pretty massive and the second confirmation is a close below those strong support blue line. If the price reaches there, then please be cautious because we might test the very low levels. Try to stay away from the market if it happens.

DASH (DASH/USD) is under the major trendlines

The market has shown some ups and downs movements and so has DASH.

Last week, DASH was technically pretty good but it didn't catch that big momentum and currently, it is in a bearish area. It is below both major trendline, below the short-term down-trendline which is pulled from July 20th and below the major counter trendline which will indicate that the upwards momentum is over. We could see a pullback if the market doesn't make any fast recoveries. Also, DASH trades below the EMA's which also is not a good sign.



However, alongside these bad signs, we also have a good sign. The current short-term bounce comes from the Fibonacci 62 percent retracement level which still printed a higher low (HL) onto the chart. So, if we stay above this orange area, then all is under control, but if we can't hold the price above that mentioned level, we might see a bigger correction downwards.

To be bullish, we have to break above again those trendlines or at least above that trendline which is pulled from July 20th. 'The road' upwards is pretty hard but if the market starts a bull run then all the altcoins start a bull run but if the market stays stable then DASH is on the trouble and definitely, it needs a big volume to break above those trendlines and EMA's.

Take a look at Ethereum (ETH/USD) Price Analysis, Sept. 27, 2018
Have a nice day!

[sirohige]

I think the graph analysis created by the movement of the price of bitcoin and altcoin is very profitable because by analyzing this can determine the right time to buy and sell coins and can determine what movement will occur in the next movement.

[tumokatok]

actually this bitcoin price movement is very unpredictable due to demand and some news in the media can also influence cryptocurrency movements but maybe the graph analysis that you provide can help new traders to determine the right time to buy cryptocurrency and can sell cryptocurrency that you have but it can't dependable forever

[putrisa]

if you can analyze bitcoin and altcoin it looks like you can determine what price movements will occur on the coin which means you will be able to determine the right time to buy and sell coins and can make you get a lot of profit.

[Dany44]

Bitcoin approaching the targets

After we mentioned the neckline double retest on yesterday's post, BTC made a very strong move upwards. It breaks above the well-known resistance levels and more than that, now we are above the trendline which is the upper channel trendline and the current price is $6,720. Bitcoin reaches almost to our mentioned first target at $6,767 which is also historically a very strong resistance level.



On the one-hour chart, we have a golden cross between the EMA's and it should be a pretty good statement. Further, we have to wait and watch how the "Ascending Triangle" plays out. The ascending triangle is a bullish chart pattern which indicates that the price has a bigger advantage to break upwards, plus we have this golden cross which should support that move upwards to the higher levels and those higher levels are, almost immediately the $6,767 strong resistance and our major target would be the $7,000. There are several price action criteria crossing areas: the round number $7,000 and the minor trendline crossing area and there is the May low level which also starts to work as a resistance, but firstly we have to see a break above the ascending triangle and break above the strong resistance.

If BTC price doesn't find that power to go upwards and it breaks below the ascending triangle and breaks below the current trendline, then it will be a sign that we might see a little throwback (move downwards). If we start to make a little throwback then technically a good opportunity for reversal would be around $6,570, there is the short-term up-trendline, different EMA's starts to work as the support and different Fibonacci levels begin to work support levels. The bearish sign/confirmation would be the break below the short-term up-trendline.

Litecoin (LTC/USD)- on the upwards channel & the possible targets

Litecoin is flying after the third touch from the major counter trendline! If we watch the top 10 altcoins, then LTC was one of the top gainers yesterday.



Currently, LTC price is on the upwards channel with very nice and clean higher highs and higher lows. It broke above the round number $60 and above the blue line which was a resistance. If we start to make a move downwards, then those levels become the supports.

Speaking of further resistances, then there is the minor trendline and the round number $70 at the crossing area. As you already know those crossing areas are always harder to beat and we have to watch it closely.

Above $70 we have the strong levels with very low gaps. In this area we have several monthly lows and even weekly supports and resistances, so, if the rally continues then, those areas are on the target list. But first, we have to break above this channel upper trendline which currently works as a resistance.

Take a look at NEO (NEO/USD) Price Analysis, Sept. 28, 2018
Have a nice day!

[geopolisch]

if you can analyze bitcoin and altcoin it looks like you can determine what price movements will occur on the coin which means you will be able to determine the right time to buy and sell coins and can make you get a lot of profit.

It is important to study the prices of coins daily where you have investment because you will have to stick with it as long as you are holding. You will decide to sell according to this monitoring of price that will show increase and decrease in price, once you noticed jump in price then it is up to you if the profit satisfies your desire then you can sell it. On the other hand you can wait for some more time in order to get higher outcome.

[Dany44]

Bitcoin is on the big “Ascending Triangle”

Currently, it trades between the two blue lines. Above is the resistance at $6,767 where BTC has tried to break out several times, one attempt was successful but let's call this a fakeout. The second one is below the current price at $6,460 which works as a support. On  Sept. 26th and 27th, it worked nicely as a support and it holds that price very nicely. Over the weekend, we touched it again and got a bounce, but this time, this level is much stronger than before because in this area we had the trendline and the golden Fibonacci level 62 percent crossing area which makes this price level much stronger to break through.



Over the weeks, the chart has drawn a bullish pattern called "Ascending Triangle" which will indicate that we might see a breakout upwards. However, we always have two breakout opportunities from the triangle, but this 'ascending' means that we have an edge to break upwards. Also, we have nice and clean higher highs and higher lows on the price structure which indicates a little bullishness.

Let's talk about a couple of scenarios:

1.  In general, during the weekends there is very low volatility and we needed a lot of power to make a breakout upwards. We didn't catch that power and the price is still in the triangle. At the moment we trade above the important EMA's and on the four-hour chart we got a bullish "Hammer" candlestick pattern and the hammer low bounced upwards exactly from the trendline and from the EMA's. If we see a continuing move upwards in the near future and if we manage to break above the triangle upper resistance line at $6,767, then the triangle pattern shows us that the ideal target point would be around $7,300 where several weekly resistances are.

2. In the bigger picture, the overall trend is down and that's why we think it is simple to break downwards. If we see a candle close below the blue line and below the triangle trendline, let's say around $6,420, then it would be a bearish confirmation. It confirms that the bullish momentum is gone and the strong support level doesn't work anymore and the next stop would be on the major counter trendline which is around $6,300. Be careful in this scenario!

Ethereum(ETH/USD) is still on the "Rising Wedge"

As Bitcoin, Ethereum trades currently between the two blue lines, support, and resistance. The resistance line at $236 has been before a support and now it becomes a resistance.



Several times it has tried to break above that blue line, but those attempts were unsuccessful. To break through this level, we have to fight with 200 EMA which starts to work as a strong resistance on the four-hour chart.

Ethereum shows nice short-term higher highs and higher lows since Sept. 25. This could show us that we have market structure and power to push the price upwards from the mentioned level and the next target would be around $260 where the minor trendline is.

The current support line has been historically a good S&R level and now it becomes a major support level again. To make this level even stronger then we trade above the 50 and 100 EMA's which should also start to work as support levels. If we break below that blue line and if we break below that major counter trendline then we have a bearish confirmation and the bearish confirmation is even stronger because we are on the continuation chart pattern called "Rising Wedge.” The overall market trend is down and if Bitcoin makes a breakout downwards from the triangle then Ethereum definitely makes a breakout downwards from the "Rising Wedge" and probably the next stop would be around $200. So, stay alert when you see at least a four-hour candle close below the major counter trendline which also breakout from the continuation pattern "Rising Wedge.”

Take a look at Cardano (ADA/USD) Price Analysis, Oct. 1, 2018
Have a nice day!

[Dany44]

Bitcoin is on the edge, Litecoin is on the upwards channel, Ripple possible scenarios & targets



Bitcoin is on the edge

Bitcoin price slides on the triangle trendline. As you’ve seen on the four-chart, we don't have a candle close below the important trendline, the triangle trendline. Yesterday, the price touched exactly the round number area at $6,500 which worked nicely as a support, and it bounced quickly back to the triangle. This showed that buyers were alerted and they’ve caught this move pretty quickly and managed to push the price back above the trendline. After that, we have small green candles, but those small green candles are slowly climbing above the EMA's. We still have a golden cross between the 50 and 100 EMA's.



If we look at the daily chart again, we got a bullish candlestick pattern called "hammer" (hammers are everywhere), this is the second hammer in the three days period, and it shows that buyers have the power to hold the price up even if sellers tried to push it down multiple times.



Now, here is a question- do the bulls have the power to hold the price up and can they start climbing higher or are they out of steam? Maybe the bears are finally winning the battle, and soon we will see a candle close below the trendline? The candle confirms that the bears dominate the market at the moment and we can possibly witness a leg downwards. We are really on the edge, and anything can happen, but technically it looks more bullish than bearish.

Litecoin (LTC/USD) is on the upwards channel

Litecoin looks 'healthy' with the upwards channel and with the clean higher highs (HH) & higher lows (HL). Currently, LTC price has found a good support area from the round number at $60. This area matches exactly with Fibonacci retracement 50 percent. Two times tested ($60) and two times it got a bounce upwards. The EMA's are around the round number area and that makes this support level even harder to break.



We have a golden cross between 200 and 50 EMA, which also indicates that we are on the bullish mode but at the moment. In order to get a leg upwards, we have to break the blue line, the strong resistance area.

Lately, six attempts failed, and it shows that if we want to be bullish then firstly, we have to take down the blue line which works as a resistance. The target would be slightly below the $70 where the minor trendline and the channel trendline crossing area plus the round number are. All those might work as a resistance, and the first short-term target should be there.

The bearish confirmations would be a candle close below the round number $60, a candle close below the channel trendline (counter trendline) and probably the first stop is around $54-$55. These are the latest support level and previous higher low.

Take a look at Ripple (XRP/USD) Price Analysis, Oct. 2, 2018
Have a nice day!

[mia khalifa]

I think the analysis that you are doing for now will not be able to provide clear information about the upcoming increase in cryptocurrency prices, such as yesterday's bitcoin price which can be as expensive as it is not unexpected. All predictions are missed and predictions are not right predict cryptocurrency price movements.

[Dany44]

Bitcoin got a bullish candlestick pattern, EOS shows some stability, TRON is almost ready to make a breakout



Bitcoin got a bullish candlestick pattern



Yesterday was a very important day to find out what we can expect the next days. We reached as low as the April level at $6,425 and after that, the price quickly bounced upwards between the round number and the strong support at $6,460. Basically, we touched three important levels below the current price and we got a bounce, that gave us a nice daily candle close which was again above the $6,500. It is a very good sign because we touched pretty low levels and still, the bulls manage to push the price upwards above the round number and this 'jump' gave as also a bullish candlestick pattern called "Hammer.” The hammer also indicates that we can see a reversal.



If we look at the four-hour chart (image above) then, after the daily candle close the price made a very powerful statement upwards. The close was above the EMA's, the volume oscillator MA (moving average) is nicely pointed upwards and most importantly, the altcoins followed this movement and they are also on the green side.

Currently, if we want to look the next resistances at the moment, we are on the pretty significant price area, the trendline area (pulled from July 24). The trendline and the latest resistance (orange 'line' above the current price) makes a crossing area. If we want to go to the higher prices then we have to break this crossing area. The break might open major resistance level at $6,767.

If we don't find that power and if the momentum doesn't last long enough then our well-known levels below the current price start to work as support levels. A daily and the four-hour candle close below the $6,450 will be the significant signs that those moves were just little ‘fakeouts’ and it confirms bearishness.

EOS (EOS/USD) shows some stability

EOS is currently on the short-term consolidation mode. After the September rallies, where it made new short-term higher highs, it had a little bit of a slow down.



At the moment we could see that it is on the chart pattern called "Triangle" and the triangle tip is a bit far from us, which indicates that we might see a small movement from EOS.

Positive signs are: we still have higher lows on the price structure and the current price is above the EMA's. This will show that it slowly start gaining some power to push through the triangle and this breakout from the triangle is also our main focus.

To make a breakout, we have to fight with the triangle trendline and with the February low which works as a resistance, but that's not all because after the breakout from the triangle comes the round number $6 and then the latest peak (lower high) will start to work as a strong resistance level. So, pretty heavy levels above the EOS and to break through, firstly, BTC has to make a breakout from the trendline.

Take a look at TRON (TRX/USD) Price Analysis, Oct. 4, 2018
Have a nice day!

[Duogembrot]

this method seems to be no longer useful at this time because the prices that have passed let go but with your analysis this makes a lot of people aware of cryptocurrency price movements that rise and fall and must be brave to take risks.

[BaraxLo]

if you can analyze bitcoin and altcoin it looks like you can determine what price movements will occur on the coin which means you will be able to determine the right time to buy and sell coins and can make you get a lot of profit.

About Altcoins we have daily analysis everywhere as we know that we use Litecoin, Ethereum and several other crypto coins best for investment as well so we are in daily discussion about it as well. Besides this Bitcoin is the first name when we discuss about crypto market we say the Bitcoin which is currently running stable by price. On the other hand other Altcoins are also in their low markets especially Ethereum.

[Dany44]

Bitcoin is technically good to make another ‘leg’ upwards, Monero is getting ready for breakout, Ethereum is in trouble



Bitcoin is technically good to make another ‘leg’ upwards

Yesterday was bullish-day and the "Hammer" worked nicely as a bullish pattern. BTC price found a resistance from the trendline which is pulled from July 24. Several attempts in the lower time frames to break upwards have failed, and currently, it makes a healthy little throwback (movement downwards). Healthy, because after impulse wave (yes, this is tiny impulse) there is always a correction before we can start another movement upwards.



The current correction has founded a support from the golden Fibonacci ratio at 62 percent, and we discovered a very strong area on the chart between the $6,530-$6,550 (marked with the orange 'box'). This area has worked historically as a strong support and as a strong resistance and no single candle close inside this orange area, only powerful candles through the area up-and-down, this makes this area super strong. If the current scenario holds us, then there is almost a perfect starting point to go to the higher levels.

First bullish confirmation is a trendline breakout, if we get at least a four-hour candle close above the trendline then it could mean another leg upwards to the next strong resistance at $6,767.

Let's count down all the bullish price action criteria:

1. Oct. 3. we got a bullish candlestick pattern "Hammer"

2. Yesterday (Oct. 4) we got a nice impulse upwards

3. Current throwback has  found a support from the golden Fibonacci level at 62 percent

4. Current throwback has found a support from the super-strong area

So, technically Bitcoin is ready to break that trendline!

To confirm bearishness then the candle close below the orange area will guide us to the lower levels and the full bearish confirmation is then when we also get a candle close below the $6,460 (blue line).

Monero (XMR/USD) awaiting breakout

Monero looks a little bit suspicious and looks like it needs to wait a moment and for the opportunity to break upwards from the triangle.



Currently, there have been several attempts to break through the counter trendline, but it has held the price nicely. Slowly, XMR’s move into the triangle tip to explode and if Bitcoin makes a move upwards and it breaks the trendline then definitely Monero has waited the perfect moment to do the same. At the moment it trades above the 200 EMA on the four-hour chart.

The counter trendline and the 200 EMA make together a strong support area below the current price. So, the only way that we could see a Monero coming down is if the BTC can't break that resistance and starts to come down, a candle closes around $6,450. In this case, we can say that Monero comes down also but currently, doesn't looks like that.

For breakout from the upper trendline, there are two target areas at $128 and $140. Those are the recently worked resistances, and we would recommend to take out some profits in this area because around $150 is just hell. There are multiple monthly supports and resistances that you never want to be on Monero if we reach into this area. The bounce downwards could be probably massive if the scenarios matching each other.

Take a look at Ethereum (ETH/USD) Price Analysis, Oct. 5, 2018
Have a nice day!

[Bonsaiav]

this method seems to be no longer useful at this time because the prices that have passed let go but with your analysis this makes a lot of people aware of cryptocurrency price movements that rise and fall and must be brave to take risks.

Maybe you are right, because most investors today, seem to be more following the flow of trends that are developing at this time. But for most traders, price analysis using methods like this's very necessary. Even if you are able, you have to do it within 24X7.