Cryptocurrency Analytics from FXOpen

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Both bitcoin and litecoin entered downtrends last week. Bitcoin took out the important $250 handle, while Litecoin broke below the low of its range at $3.70. Consequently BTC/USD fell by over 22 percent while the losses in LTC/USD exceeded 30 percent.

Bitcoin Down by 22 Percent

During the last 7 days, everyone’s favorite cryptocurrency fell by almost $58 dollars to a low of $192.55 today. We already reported on the Wednesday crash in our last article. But the BTC losses didn’t stop there. Since last Thursday, bitcoin lost a further $41 dollars (from $233 to $192). We are currently experiencing a slight retracement with BTC/USD trading at $210 dollars per coin.

Read More https://blog.fxopen.com/topics/cryptocurrencies/

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Both bitcoin and litecoin entered downtrends last week. Bitcoin took out the important $250 handle, while Litecoin broke below the low of its range at $3.70. Consequently BTC/USD fell by over 22 percent while the losses in LTC/USD exceeded 30 percent.

Bitcoin Down by 22 Percent

During the last 7 days, everyone’s favorite cryptocurrency fell by almost $58 dollars to a low of $192.55 today. We already reported on the Wednesday crash in our last article. But the BTC losses didn’t stop there. Since last Thursday, bitcoin lost a further $41 dollars (from $233 to $192). We are currently experiencing a slight retracement with BTC/USD trading at $210 dollars per coin.

Read More https://blog.fxopen.com/topics/cryptocurrencies/

No predictions?

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Cryptocurrencies are getting some breathing room after the relentless selling seen in the past 10 days. Since reaching new multi-month lows on Tuesday, bitcoin is trading higher by $31 dollars or 16 percent. Namecoin rose by over 5 cents, above 16 percent, from its lows. Peercoin is also trading higher but by only 9 percent.

Peercoin Lags Behind the Bounce

Alternative cryptocurrency Peercoin is lagging behind the general market bounce. While most other major cryptos clocked gains of 16 percent, or in Litecoin’s case 17.6%, PPC/USD is only up by 9 percent. Peercoin is currently quoted at $0.318, 2.7 cents from the $0.291 low.

Read More https://blog.fxopen.com/cryptocurrencies-catch-a-break/

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Bitcoin stayed within a right range during the past six days. Meanwhile its little brother Litecoin continued the slide lower, losing another 7 percent since last Tuesday. But let’s start with big brother first.

Bitcoin Stuck in Range

Bitcoin has been stuck in a range between $216.12 and $230.96 dollars per coin since August 26th. After the large crash we saw an equally quick recovery, which didn’t quite reach the pre-crash prices. Since Wednesday we have been trading in this $14 dollars range. In the past four days, the range has shrunk further to only $7 dollars. The low of this newest range stands at $222.34 while the high is at $229.57.


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Both Peercoin and Namecoin are trading slightly higher compared to our last PPC/NMC update. Peercoin is up by 1.1 cent or 3.5 percent while Namecoin is higher by 2.7 cents or 7.7 percent.

Peercoin slightly higher in Volatile Week

Peercoin is trading very slightly higher by 1.1 cent per coin after a volatile session. First we saw PPC/USD rally to $0.379, only to fall back down to $0.327 in the next several days. We are currently quoted at $0.329.

Read More https://blog.fxopen.com/peercoin-namecoin-slightly-up-in-volatile-week/

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The downtrend for bitcoin is technically over, after we rallied over $50 dollars from the lows reached on August 25th. Prices are now closing in on the important $250 mark again. Meanwhile Litecoin is still in its downtrend and currently fighting with an important resistance level.

Bitcoin Closing in on $250 Again

Bitcoin prices are again flirting with the $250 dollars level. This important figure was the starting point for the rally at the end of June. On the way down, a breakdown below $250 triggered a crash of $32 dollars. With BTC/USD coming up to this figure again, it’s likely that this important level will act as resistance again.

Read More https://blog.fxopen.com/bitcoin-downtrend-ends-prices-closing-in-on-250/

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All four major cryptocurrencies, bitcoin, litecoin, peercoin and namecoin, have ended their downtrends in the past five days. For BTC/USD and LTC/USD the end came on September 6th, with a decisive break above $231 and $3 respectively. For Peercoin and Namecoin the downtrend stopped one day later on the 7th of September, with a break above the previous high at 38 cents for PPC and 43 cents for NMC. We noted both of these levels as trend stoppers in our previous update on the two cryptocurrencies.

Peercoin Rallies 44 Percent

With a massive rally of 13 cents or 44 percent from the $0.291 low, PPC/USD put an end to the losses. One coin is currently selling for 38.9 cents, 34 percent higher from the August 25th low.

Read More https://blog.fxopen.com/peercoin-rallies-44-namecoin-downtrend-over/

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Both Bitcoin and Litecoin entered a consolidation period last week. Big brother bitcoin is trading around the $230 dollars mark while litecoin’s move higher got rejected at $3 dollars.

Bitcoin Consolidates Around $231 Dollars

Everyone’s favorite crypto-currency has entered a consolidation period. During the past seven days, BTC/USD moved in a range between a low of $226.05 and a high at $245.80. We are currently quoted at $228.90.


Read More https://blog.fxopen.com/bitcoin-consolidates-below-250-dollars/

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All of the four crypto-currencies we follow have now entered a consolidation period. Peercoin had a sharp correction of almost 24 percent after last week’s 44% surge. Namecoin also declined, by 28 percent when measured high to low. The consolidation period is largely fueled by big brother bitcoin. The crypto has been trading in a tight $5 dollar range for the past four days now.

Peercoin Corrects by 24 Percent

Alternative cryptocurrency Peercoin had a sharp correction of almost 24 percent in the past seven days. After hitting a high of $0.422 last Tuesday, PPC retraced all the way down to $0.321, erasing most of the gains from the 44% surge. But staying true to the consolidation phase, the crypto didn’t stay down for long and is currently quoted at $0.369.


Read More https://blog.fxopen.com/cryptocurrencies-enter-consolidation-period/

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Another week has passed and not much is changed. Both Bitcoin and Litecoin and still consolidating.Bitcoin is currently quoted at $228.49 dollars, just 41 cents below the price noted in last week’s article. You can see the effect of bitcoin’s consolidation across the crypto-market. For example Litecoin is trading at $2.82, about 4 cents higher,  just 1.4 in percentage terms.

Bitcoin Still Range-bound

While BTC is pushing on the lower bounds and making new lows, it has yet to make a decisive breakdown. In the past seven days, the total range has been only $10 dollars and 59 cents, with a high at $234.59 and a low at $224. Today we hit new multi-day lows at $224 but this was quickly followed by a sharp rally to $230.48.

Read More https://blog.fxopen.com/more-of-the-same-as-bitcoin-still-range-bound/

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Both Namecoin and Peercoin are trading flat during the past seven days. For NMC/USD, the total range since last Thursday has been 5.1 cents

Namecoin Still Range-bound

Alternative cryptocurrency Namecoin continues to trade in a range. We are currently quoted at $0.375 dollars per coin, only 0.3 cents above the price noted last Thursday. The low marked during the past seven days is at $0.36 while the high stands at $0.41. In percentage terms, this 5 cent range equals to just over 13 percent. This may seem like a lot but keep in mind that the usual weekly range for Namecoin is closer to 10 cents, or double the current value.



Read More https://blog.fxopen.com/namecoin-peercoin-trade-flat-during-past-7-days/

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Both Bitcoin and Litecoin and slowly inching closer to the top of their respective ranges. Big brother bitcoin advanced by just over $8 dollars since our last update. Meanwhile Litecoin clocked gains of 18 cents or 6% in percentage terms.

Bitcoin Rallies by $8 Dollars

Bitcoin rallied slightly by $8 dollars or 3.6 percent since last Tuesday. In today’s trading session, a new multi-day high of $237.69 was reached. But soon after the congestion curse struck again with BTC/USD falling to a daily low of $234. We are currently quoted at $236.50 dollars.



Read More https://blog.fxopen.com/bitcoin-litecoin-target-top-of-the-range/

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Both Peercoin and Namecoin continued to trade within a range during September. Peercoin has been stuck in a 10 cents congestion area, between 32 and 42 cents. For Namecoin the range is a bit wider and extends from 33 to 46 cents per coin.

Peercoin Stuck in a 10 Cents Range

Alternative cryptocurrency Peercoin ended the last week of September same as the first one, stuck in a range. The top border of this congestion area is at the $0.422 swing high, while the bottom is at $0.321. We are currently quoted at $0.382 dollars for one Peercoin.

Read More https://blog.fxopen.com/peercoin-namecoin-stay-range-bound-in-september/

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Bitcoin is ending closer to a breakout on the upside. Since our last update, BTC/USD advanced by $4 dollars, or just below 2 percent. Litecoin on the other hand has traded mixed and is still stuck at the $3 dollar handle.

Bitcoin Edges Closer to Breakout

Bitcoin is edging closer to an upside breakout. The bulls have managed to string together several days of gains, pushing BTC almost 2 percent higher. The chart below shows the slow moving but steady march higher since September 22nd.

Read More https://blog.fxopen.com/bitcoin-edges-closer-to-upside-breakout/

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Both Peercoin and Namecoin are trading barely changed since our update last week. Peercoin is down by only 0.6 cents, that’s just 1.5%. Meanwhile NMC declined by 1/5 of a cent, or only 0.5 in percentage terms.

Peercoin Still Trading in Tight Range

Alternative cryptocurrency Peercoin is still stuck in a tight 3 cents range. The high of this congestion area stands at $0.393 while the low is at $0.363. The low has been moved by 0.2 of a cent after brief foray lower on October 3rd. This shows the importance of having a buffer above and below the current range. False breakouts are plentiful in this type of market environment.


Read More https://blog.fxopen.com/peercoin-namecoin-barely-changed-since-last-week/

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Bitcoin broke the important $245 level just an hour ago. Prices got as high as $247.50 which is exactly where we are trading right now. The bullish BTC push translated into gains for Litecoin as well. Bitcoin’s little brother advanced over 5 cents today, or 1.6 percent.

Bitcoin Breaks $245 Dollars

Bitcoin broke the important $245 handle today. This was the September high for the crypto, as well as the daily high on October 6th and October 11th.  On October 7th and October 12th we got as close as $244.95. We kept bumping up against $245 for the past seven days, so it’s no surprise to finally see this level broken.



Read More https://blog.fxopen.com/bitcoin-breaks-245-dollars-nears-250/

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Bitcoin finally broke above the $250 figure today. Prices traded as high as $253.59 in today’s trading session, before a retracement took BTC down to $251.84 dollars per coin. But this new rally has yet to translate into gains for other crypto-currencies. While Litecoin is trending higher, it still hasn’t broken the crucial $3.19 resistance. And both Peercoin and Namecoin remain firmly stuck in the middle of their respective ranges.

Peercoin Still in a 3 Cents Congestion

Alternative crypto-currency Peercoin is still trading within the 3 Cents range outlined in our article last week. The top of this congestion area stands at $0.393 while the bottom is at $0.363. As we can see on the chart below, PPC/USD is currently trading in the middle of its range.

Read More https://blog.fxopen.com/peercoin-namecoin-refuse-to-follow-btc-higher/

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It has been an exciting week for bitcoin. Prices topped out at $272.96 then fell over $16 dollars in a major retracement. Meanwhile little brother Litecoin failed to follow bitcoin and rally as well.

Litecoin Fails to Rally

Alternative cryptocurrency Litecoin didn’t follow big brother in the latest up-move. The advance by the bulls got rejected right in that $3.12-$3.18 resistance area marked on the chart below. Prices only traded as high as $3.1510 last week before being pushed back below the $3 dollars handle.


Read More https://blog.fxopen.com/bitcoin-retraces-litecoin-fails-to-rally/

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Last week we wrote about how Peercoin and Namecoin refused to follow big brother higher. A lot has changed since then and now both cryptos have broken to the downside. In the past seven days PPC/USD fell by 1.7 cents or 4.6 percent. Meanwhile NMC/USD hit a low of $0.346 today before stabilizing and is currently quoted at $0.354 or 1.1 cents lower. In percentage terms this is around 3%.

Peercoin Breaks to the Downside

Alternative cryptocurrency Peercoin has broken to the downside. Prices hit a new monthly low at $0.349 on October 20th. But since then we have rallied back up somewhat. Today we hit a high of $0.367, almost 5 percent above the lows. But the highs were used by the bears to sell into and PPC is currently down to $0.353 dollars per coin.

Read More https://blog.fxopen.com/peercoin-and-namecoin-head-lower/

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Alternative cryptocurrency Litecoin is still trading range-bound. The altcoin is trading basically unchanged since our LTC update last week, still quoted at $3.02 dollars per coin. Meanwhile bitcoin continued to roar ahead, breaking new highs.

Bitcoin Hits $288.90 on FxOpen

In the past seven days bitcoin managed to break the $270 resistance figure and head higher. Prices hit a new high of $288.90 two days ago, very close to the $290 weak resistance. This caused another sharp retracement down to $274 dollars per coin but the lows didn’t last long. Bitcoin is currently quoted at $285.24, very close to the Sunday highs.

Read More https://blog.fxopen.com/litecoin-still-range-bound-as-bitcoin-retests-highs/