Cryptocurrency analytics (Bitcoin, Litecoin, Ethereum, Dash)

[FXO]

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 Lows

As 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.


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[FXO]

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.

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[FXO]

Bitcoin, Litecoin Barely Changed

Both 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 Percent

Bitcoin 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.



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[FXO]

Bitcoin Enters Bullish Territory

Bitcoin 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.


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[FXO]

The future trend of cryptocurrencies is certainly still very dependent on bitcoin, and until now bitcoin marketcap is still number # 1 with more than 38% reach, and I'm sure that the future will continue to improve even though bitcoin marketcap continues to decrease.

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[FXO]

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 Percent

As 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.

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[FXO]

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 Lows

On 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.





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[FXO]

Litecoin Bounces at Support, Trend Down

It 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 Changed

Bitcoin 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.


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[reactorjuno]

Hi folks. Might be interesting to look at Ethereum right now.
We did not touch the 61.8%. Then it is 23.6% at $198 for the correction, but well it's not a science, so here I am expecting a bullish trend, we have a hidden bullish divergence in H4 and we see that we have broken our bullish oblique to be able to start a new cycle with a good basis. Hope I am right anyway.

[arthotdog]

Even how many and accurate this analysis you are bringing here still this won’t change the reality that crypto market is still falling and making hard to grow this is the truth we must face and realize and not those analysis and speculation putting in forum but the value continues to drop

[reactorjuno]

Even how many and accurate this analysis you are bringing here still this won’t change the reality that crypto market is still falling and making hard to grow this is the truth we must face and realize and not those analysis and speculation putting in forum but the value continues to drop

Don't get me wrong, I do agree with you and we should never forget about the fundamentals, but technical analysis does help a lot for short term trading, proved it countless of times this year.

[FXO]

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!

[FXO]

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 Support

Ether 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.






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[FXO]

BTC/USD

From 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.

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[okala]

Ether Downtrend Still in Force

The downtrend for ETH/BTC continues for another week. Right now the crypto is trading at 0.05492 per BTC, around 4 percent off the lows.



We’ve been mostly range-bound during the past few days but we’re still far from ending the bearish trend on the daily charts. For that to happen the bulls need to push us above the 0.06030 BTC swing high. Higher up a break above 0.072 BTC is needed to trigger a new uptrend.

Below current prices there’s major support in the 0.050 – 0.052 BTC area. A decisive break below the 0.05 round figure would exacerbate the losses for Ether. On the longer-term charts ETH/BTC is looking range-bound on the weeklies but bullish on the monthly charts.

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Thank you for sharing your thoughts and views with us about the state of the market and I believe that Ethereum is going to recover after the network and gas issue are settle. I am still holding my Ethereum and the hope is that good days are ahead. For those that keep this good faith with us you can now buy more of Ethereum.

[Klausi]

Ether Downtrend Still in Force

The downtrend for ETH/BTC continues for another week. Right now the crypto is trading at 0.05492 per BTC, around 4 percent off the lows.



We’ve been mostly range-bound during the past few days but we’re still far from ending the bearish trend on the daily charts. For that to happen the bulls need to push us above the 0.06030 BTC swing high. Higher up a break above 0.072 BTC is needed to trigger a new uptrend.

Below current prices there’s major support in the 0.050 – 0.052 BTC area. A decisive break below the 0.05 round figure would exacerbate the losses for Ether. On the longer-term charts ETH/BTC is looking range-bound on the weeklies but bullish on the monthly charts.

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Thank you for sharing your thoughts and views with us about the state of the market and I believe that Ethereum is going to recover after the network and gas issue are settle. I am still holding my Ethereum and the hope is that good days are ahead.

As far as eth was concerned here with respect to the trend that has shown on the graphical data, I think that was really going to happen in most certain cases specially these days of bull trap. Once we're surviving along with the bearish market, I guess bitcoin will also gaining back to successive pumps. That would affect to other crypto specially with ethereum, and I am confident to that trend I seen on graph to spike back to very highest price ever reached.

[FXO]

LTC/USD AND EOS/USD IN A BEARISH PENNANT

LTC/USD

From 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.


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[FXO]

XRP/USD and EOS/USD showing potentially short-term increase but an outlook is grim


XRP/USD

Last 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.


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[FXO]

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.




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[FXO]

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.

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