Cryptocurrency Analytics from FXOpen

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For the past two weeks both Bitcoin and Litecoin have been stuck in a relatively tight ranges. Compared to last Tuesday, BTC/USD is down by only 1 percent, from $415 to $410.74. Litecoin is down by a larger 3 percent, from $3.28 to $3.18 dollars per coin. But let’s start with big brother and we’ll get back to LTC later in the article.

Bitcoin Little Changed as Range Continues

Like we noted above, Bitcoin is barely changed since last Tuesday. The total range during the past seven days is only $13.47 dollars, or just above 3 percent. On the chart below this range in marked with a yellow rectangle. As you can probably deduce the size of this range, no major levels were broken since our last BTC update.



Read More https://blog.fxopen.com/bitcoin-continues-range-bound-trading/

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Both Peercoin and Namecoin settled back into a trading range this week. Peercoin is currently trading at $0.472 dollars, down 3.7 percent since Thursday. Namecoin had a wild ride this week, first falling to a low of $0.434 before rallying over 13% today alone. We are currently quoted at $0.496, up 5 percent since last Thursday.

Peercoin Ends Fragile Uptrend

Peercoin ended its fragile uptrend this week. While we didn’t get a decisive break below 45 cents (prices dipped briefly to $0.447 dollars), the loss of momentum pushed prices back into range-bound territory. Let’s take a look at some levels.



Read More https://blog.fxopen.com/peercoin-and-namecoin-back-in-range/

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It’s been a wild few days in bitcoin land, at least when compared to the previous period of calm. Prices initially spiked $11 on low volume during Easter Sunday. Today saw all those gains evaporate and then some. This pattern was repeated in LTC as well. After an inital spike to $3.30, prices are back to their starting point at $3.18 dollars per coin.

Bitcoin Spikes on Easter

As noted above, BTC/USD spiked on Easter Sunday. The move looks like a classic breakout on low volume. The false break was confirmed when prices retraced heavily today, erasing all the gains. We are currently quoted at $412.60 dollars, even below yesterday’s open at $415.50.



Read More https://blog.fxopen.com/bitcoin-spikes-on-easter-retraces/

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Most major cryptocurrencies have been range-bound for the past two weeks. This consolidation is still ongoing. While Peercoin is testing an important support, it hasn’t broken it yet. Namecoin on the other hand is still firmly in its range.

Peercoin Testing Support

Alternative cryptocurrency Peercoin is testing the important support level at $0.447. We are currently quoted only 0.1 cent below at $0.446 dollars per coin. On the chart below we can see that since the start of this week PPC/USD has resumed the downward slide and is back to testing the support for the past few hours.

Read More https://blog.fxopen.com/crypto-consolidation-continues/

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Bitcoin is trading higher today but we’re still far from declaring a new uptrend. Prices hit $420.95 early in the day before backing down somewhat. Litecoin isn’t having as good of day however. Prices are down slightly after bitcoin’s little brother erased the earlier gains.

Bitcoin Prices Hit $420.95

As noted above, BTC prices hit a high of $420.95 before easing to 417.51. We are currently quoted at $418.11, about 60 cents from the lows. On the chart below we can see that while BTC/USD had some gains in the past few days, we’ve yet to stage a brakeout.

Read More https://blog.fxopen.com/bitcoin-higher-but-no-trends-in-sight/

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The general consolidation in the crypto-market is still ongoing. But while BTC is making tentative gains, both Peercoin and Namecoin are drifting lower and testing important support levels. Let’s start with PPC and we’ll get back to Namecoin later on.

Peercoin Testing Support

Peercoin is still testing the important support level near $0.447 dollars per coin. In the past seven days PPC/USD hit a low of $0.444 dollars but that’s where the small losses ended.On the chart below we can see how the bears have been constantly attacking this support area during the past few weeks.



Read More https://blog.fxopen.com/peercoin-namecoin-test-support-levels/

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Bitcoin looks set for a break higher. In the past 24 hours we’ve advanced by almost 1%, edging closer to the $427 breakout point. Litecoin is trading higher as well although it’s much further away from the top of its range. But let’s start with big brother and we’ll get back to LTC later on.

Bitcoin Poised for a Break Higher?

Everyone’s favorite cryptocurrency looks poised for a break higher. Today a high of $421.08 was hit on Fxopen, about $5 below the $426.24 swing point. As we noted last week, a decisive breakout above this level could start a new BTC rally.



Read More https://blog.fxopen.com/bitcoin-looks-set-for-breakout/

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Both Peercoin and Namecoin broke down in the past seven days, ending the prolonged range. Peercoin barreled through the support at $0.444 last Thursday, clocking more gains on Friday. The losses for NMC didn’t happen until two days later on Sunday. Both cryptos are currently trading substantially lower compared to one week ago.

Peercoin Breaks Down, Falls Over 7 Percent

Peercoin is trading down by 7.3 percent this week. As we noted above, although the break happened late on Thursday, the bulk of the losses transpired last Friday. Prices hit a low of $0.416 dollars that day before retracing somewhat. Since then we’ve hit a new multi-week low at $0.41 dollars but the pace of the losses has obviously slowed.

Read More https://blog.fxopen.com/peercoin-and-namecoin-break-down/

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Bitcoin has made tentative gains after its breakout last week. We’re currently quoted at $424.70. Bitcoin’s little brother LTC is quoted at $3.20 dollars, down 2 cents since last Tuesday. Litecoin is yet to join the bitcoin lead rally.

Bitcoin Gains 1 Percent

In our previous article we wrote that BTC looked set for a break higher. The breakout did lead to some gains and a high of $428.99 was reached on Saturday. But since then we’ve been trading in a small range between $420 and $429 dollars per coin.

Read More https://blog.fxopen.com/small-gains-for-bitcoin/

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Ok, captain obvious. There is no analysis here, just pointing what we all can see.

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Both Peercoin and Namecoin have somewhat paused the losses. Peercoin is down by only 0.4 of a cent (just under 1%) while NMC is up slightly by 1.2 cents. The primary driver for the pause seems to be bitcoin’s rally. Big brother hit a high of $439 dollars today. The gains were larger on other exchanges with prices topping out closer to $445 dollars per coin. But let’s start with PPC and we’ll get back to bitcoin later on.

Peercoin Down Slightly

Alternative cryptocurrency Peercoin is down slightly compared to last week. The losses are fairly small right now of around 1 percent. But as can be seen on the chart below, there’s no respite in sight for PPC/USD.

Read More https://blog.fxopen.com/peercoin-namecoin-pause-losses-on-btc-rally/

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The bitcoin rally has finally awoken the cryptomarket. All of the three altcoins we follow, Peercoin, Namecoin and Litecoin are trading substantially higher. But the largest percentage gains were seen in Bitcoin’s little brother LTC. The altcoin is up by 53 cents or just above 16 percent in the past three days alone. Bitcoin is trading higher as well but not to that extent. Let’s go over this week’s mover first and we’ll get back to BTC later in the article.

Litecoin Rockets Higher

Alternative cryptocurrency Litecoin rallied by over 16 percent in the last three days alone. On the chart below we can clearly see this breakout from that long-lasting congestion area. The repressed altcoin only needed a few hours to break several of resistance levels. But ultimately it stopped right at the December highs of $3.82 dollars per coin. This was another level noted in our previous article.

Read More https://blog.fxopen.com/litecoin-rockets-higher-bitcoin-up/

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Both Peercoin and Namecoin had a wild couple of days. The two smaller cryptos decided to join the BTC rally at the worst possible time. Bitcoin is experiencing a large correction during the past two days and its having a knock-on effect in the altcoin markets.

Peercoin Breaks Higher, Falls Back Down

Peercoin broke above the former support, now turned resistance at $0.447 on Monday. While this ended the weak downtrend, the move didn’t break $0.48 dollars. In our last PPC article we noted this level as potential rally starter. Prices peaked at $0.479 dollars on Tuesday and we’ve been falling ever since. The primary driver of this move is bitcoin falling from $462 to $435 dollars per coin but more on this below.



Read More https://blog.fxopen.com/peercoin-namecoin-rally-lose-gains/

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It hasn’t been a good week for bitcoin or litecoin. Big brother had a sharp retracement from $462 to $435 dollars while LTC retreated from $4.19 to $3.61 dollars per coin. After that wild ride, the past few days have been range-bound for the two major crypto-currencies.

Bitcoin Waiting for Direction

Bitcoin is waiting for its next directional move. The April move higher topped out at $462 dollars. From here we retraced to $435 dollars. Post that mini crash both BTC and LTC has been more or less unchanged. What’s next for bitcoin?


Read More https://blog.fxopen.com/bitcoin-litecoin-take-a-step-back/

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The slow drift lower for altcoins continues. Peercoin lost 2.8 cents or 6.8 percent since our last update. Namecoin declined as well but by a smaller magnitude . Let’s start with PPC and we’ll get back to Namecoin later on.

Peercoin Back in Range

Alternative cryptocurrency Peercoin fell from $0.444 to $0.417 right now, a loss of 2.8 cents. This puts the crypto back into range-bound territory.  The very long-term trend (monthly charts) is negative. But there is no short-term or medium term trend, as well as no momentum.

Read More https://blog.fxopen.com/namecoin-flat-peercoin-back-in-range/

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The slow rally in bitcoin prices continues. In the past seven days everyone’s favorite crypto-currency advanced by $10 dollars or 2.2 percent. This is having a positive impact on most of the altcoin market. Litecoin for example is up by 32 cents or over 8 percent.

Slow Bitcoin Rally Continues

The slow rally in BTC/USD continues. Like we mentioned above the gains are not very large at around 2 percent this week, from $445 to $455 dollars per coin. On the technical front not much is changed. The small percentage move hasn’t broken any major levels. The short-term trend is bullish as is the medium-term trend. The long-term trend (monthly charts) is still in neutral mode.


Read More https://blog.fxopen.com/slow-bitcoin-rally-continues/

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Both Peercoin and Namecoin are pushing on their respective support levels. For PPC/USD this figure stands around $0.398 while for NMC its around $0.412. As we always say, we’re looking for a ”decisive” break of these levels, not just a quick and shallow spike below.

Peercoin Down by 2.6 Percent

Peercoin is down by 2.6% this week, from $0.417 to $0.406 right now. Earlier in the day we hit a low of $0.404 but we’ve since bounced slightly. The important support around the 40 cents area at $0.398 dollars wasn’t tested this week.



Read More https://blog.fxopen.com/peercoin-namecoin-pushing-on-support/

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Both bitcoin and litecoin have settled into large triangle patterns. The formations are ascending triangles, potentially signalling that more gains are on the way.

Bitcoin Settles in a Large Triangle Pattern

With the price action during the past seven days, bitcoin has settled firmly inside a large triangle. On the picture below you can see this formation. Prices peaked at $462.16 on April 26th and we’ve been rang-bound ever since, albeit with a slight bullish bias.



Read More https://blog.fxopen.com/bitcoin-litecoin-settle-in-large-triangles/

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Both Peercoin and Namecoin are back in a downtrend. In our last article we noted that both cryptos were pushing on important support levels. Late on Tuesday, these support levels finally broke, first on NMC and 3 hours later on PPC/USD.

Peercoin Breaks 40 Cents

Two days ago, Peercoin broke the important support near 40 cents at $0.398. Prices crashed soon after to $0.349 per coin. This is close to the January lows at $0.353. Since that crash we’ve somewhat stabilized but PPC is still far below the 40 cents mark at $0.374 right now.

Read More https://blog.fxopen.com/peercoin-and-namecoin-back-in-downtrend/

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The slow bitcoin rally has finally ended. The sell-off last Thursday and Friday pushed prices down to the $435 level. Its little brother Litecoin is still in its own uptrend after bouncing strongly at the $3.78 dollars figure.

Bitcoin Uptrend Ends

The long but slow bitcoin rally is finally over. On Thursday prices broke below the lower bound of the triangle pattern. On Friday a low of $434.86 was hit.



Read More https://blog.fxopen.com/bitcoin-rally-ends-litecoin-still-up/