Cryptocurrency Analytics from FXOpen

[voskobojn]

Bitcoin had a sharp drop today, falling from $14,800 to as low as $12,800 before recovering somewhat. We are currently quoted around the $13,900 handle. News that South Korea may ban crypto-currency trading in the country send almost all coins in the red today. Some recovered better then others.

Ether Uptrend Remains

Despite some losses overnight, the rally in ETH/BTC continues. We are currently quoted at 0.08456 BTC, down from 0.0965 BTC yesterday. Strong Ether gains are underpinning this rally, with the ETH/USD counterpart trading at $1201 at the moment. 

Read more: https://blog.fxopen.com/crypto-market-sees-declines/

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[voskobojn]

Both bitcoin and litecoin have switched into downtrends today after breaking key support levels. News from South Korea and China keeps weighing on market sentiment.
Bitcoin Switches to Downtrend

After a long time bitcoin is finally in a downtrend on the daily charts. The last time this happened was during September of 2017 and the move lower lasted two weeks with prices eventually bottoming out near the $3,000 mark.

Read more: https://blog.fxopen.com/bitcoin-litecoin-switch-to-downtrends/

[voskobojn]

Both Ether and Dash are trading mostly stable during this crypto market rout, at least versus BTC. Against the U.S. Dollar both altcoins are substantially off their highs.

ETH/BTC Ratio Mostly Stable Amid Rout

The ETH/BTC trading pair has stayed mostly stable as the larger crypto market experienced losses across the board. As you can see on the chart below, we’ve stayed inside that large rectangle for the past ten days.

Read more: https://blog.fxopen.com/ether-and-dash-stable-amid-rout/

[voskobojn]

Bitcoin is trading little changed compared to our last update. We’re quoted at $11,186 right now, compared to $11,550 back then. Litecoin is trading at $177 dollars, down from $197 last week.
Bitcoin Stable in a Downtrend

Bitcoin prices have been volatile during the past seven days but ultimately ended up close to where they started. We are only down by $364 dollars since last Tuesday or around 3.1 percent. This is a very small percentage change for a crypto-currency.

Read more: https://blog.fxopen.com/bitcoin-stable-but-downtrend-remains/

[voskobojn]

Mixed results for the two cryptos we’ll cover today. While Ether gained ground on BTC compared to last week, Dash lost some. But both the gains for ETH and the loss for DSH haven’t been drastic.

ETH/BTC Slowly Trending Higher

The price of ETH/BTC has been slowly trending higher the past few days. Our last update recorded a print of 0.08814 BTC and we’re currently quoted at 0.09294 BTC, a gain of 5.6 percent.

Read more: https://blog.fxopen.com/ether-up-dash-down-vs-bitcoin/

[voskobojn]

Crypto prices dropped across the board as news emerged that the U.S. government subpoenaed Bitfinex and Tether. One coin is selling for $9,882 right now, down from $11,186 last week. Litecoin followed big brother lower again and is quoted at $161 dollars right now.
Bitcoin Drops on Tether Subpoena

Bitcoin prices dropped over 10 percent today after Bloomberg leaked a rumor that the U.S. government subpoenaed both Bitfinex and Tether. The outstanding supply of tethers snowballed since December of last year, from below 1 billion to over 2.3 billion. In other news yesterday Tether announced that they were terminating the audit that was expected last year:

‘Given the excruciatingly detailed procedures Friedman was undertaking for the relatively simple balance sheet of Tether, it became clear that an audit would be unattainable in a reasonable timeframe,” Tether said.’

According to some speculators, the two companies are printing tethers without USD backing to support crypto prices. More on this controversy HERE.

Read more: https://blog.fxopen.com/bitcoin-drops-on-tether-subpoena/

[burdeN]

Great thread, thanks voskobojn, here is merit from me
Just wanted to add, that Facebook banned all the ads of ICOs and crypto today

[voskobojn]

Great thread, thanks voskobojn, here is merit from me
Just wanted to add, that Facebook banned all the ads of ICOs and crypto today

Thank you! From me also

[voskobojn]

Ether prices rallied over 13 percent versus bitcoin but then lost all the gains. Dash on the other hand is down over 5% vs BTC today.
Ether Rallies 13% then Loses All Gains

Ether prices rallied over 13% versus bitcoin yesterday and hit 0.121 BTC per coin. The highs were quickly sold into however as the general crypto market saw declines. Bitcoin is currently down almost 15% versus the U.S. Dollar and that usually triggers altcoin losses as well.

Read more: https://blog.fxopen.com/ether-rallies-13-then-loses-all-gains/

[voskobojn]

With over 2,000 cryptocurrencies on the market, there’s plenty of choice when it comes to trading cryptocurrency. In fact, the hardest part is narrowing down the search!

Read more: https://blog.fxopen.com/tips_for_picking_cryptocurrency_investments/

[voskobojn]

A lot has happened since our last bitcoin update. Last week BTC/USD was (barely) holding onto the $10,000 mark but by Tuesday we dropped to a low of $5,980 dollars. Litecoin saw lows at $105 dollars before a bitcoin-led bounce took it out of the doldrums.
Bitcoin Drops by 40 Percent in 6 Days

The news about the Tether subpoena last week shook market confidence. Bitcoin prices dropped by 40 percent in 6 days to hit a low of $5,980 dollars. Here we got somewhat of a rally to $8,468 dollars but there is no certainty that this will be more then a ‘dead cat’ bounce. We are quoted at $7,568 dollars right now, much below the $19,850 all-time high.

Read more: https://blog.fxopen.com/bitcoin-bounces-after-large-losses/

[voskobojn]

During the past week, we’re seeing more gains for Bitcoin. This, in turn, led to gains in altcoins like Litecoin as the general crypto market recovers from large losses.
Bitcoin Up by 13 Percent

Bitcoin is currently quoted at $8,520 dollars per coin, up by $952 dollars since our last update. This is a gain of close to 13 percent, 12.82% to be exact.

Read more: https://blog.fxopen.com/more-gains-for-bitcoin-litecoin/

[voskobojn]

Ether is trading lower versus bitcoin this week. The crypto has lost 12 percent to big brother since Monday as BTC is the preferred crypto this week. Dash on the other hand continues to trade in a range.

Ether Down 12 Percent

As we mentioned above, Ether is trading down by 12% since Monday. This move was enough to shift the uptrend in ETH/BTC to a downtrend.

Read more: https://blog.fxopen.com/ether-down-dash-still-range-bound/

[voskobojn]

While most altcoins are getting slaughtered, LTC shines propelled higher by Litepay and a new fork. Bitcoin continues its gains as well but stopped short of a new rally.
Bitcoin Higher but Stops Short of New Rally

Bitcoin prices traded even higher since our last update but they stopped short of triggering a new rally. We are currently quoted at $11,221 dollars, after topping out at $11,769 dollars earlier today.

Read more: https://blog.fxopen.com/litecoin-shines-in-altcoin-slaughter/

[voskobojn]

Both of the cryptos we follow on Thursday are down since our last update. Ethereum is trading lower by over 10 percent while Dash is down by almost 5 percent.
Ethereum Down Over 10 Percent

Ether is quoted at 0.0797 BTC right now, lower by over 10 percent. The downtrend in ETH/BTC continues for another week. To end it the bulls will have to push us back above the 0.1 BTC round figure.

Read more: https://blog.fxopen.com/more-losses-for-ether-dash/

[voskobojn]

Bitcoin continues the range-bound trading this week. We’re quoted at $10,328 dollars right now, down from $11,211 last Tuesday. Litecoin is also trading lower but keeping its bullish bias.
Bitcoin Continues Range-bound Trading

The high but directionless volatility continues in BTC/USD. During the past seven days we traded as low as $9,270 and as high as $11,054 dollars. While bitcoin is down this week it hasn’t broken any important support levels yet.

A new downtrend requires a break below the $7,705 swing low. Above here we find support at the $10,000 round figure, followed by $9,280 swing low. Further down we have the previous resistance now turned support at $9,049, closely followed by the $9,000 round level.

Read more: https://blog.fxopen.com/bitcoin-continues-range-bound-trading-2/

[voskobojn]

After some LTC losses last week now both Bitcoin and Litecoin are in a trading range. Bitcoin is quoted at $10,678 dollars right now, up a bit from $10,328 last week. Litecoin is trading at $195, down from 201$ dollars.
Bitcoin Still in Range

Bitcoin continues to trade in a trading range. During the last seven days, we saw some gains that temporarily lifted prices to test the previous resistance. We got as high as $11,686 yesterday, slightly below the previous major resistance at $11,769 dollars. A breakout above here was needed to trigger a new BTC rally.

Read more: https://blog.fxopen.com/bitcoin-and-litecoin-in-range/

[voskobojn]

BTC/USD analysis

    BTC/USD broke support zone
    Next sell target – 8000.00

BTC/USD continues to decline after the earlier breakout of the support zone lying at the intersection of the following support levels: 38.2% Fibonacci retracement of the previous medium-term upward impulse (1) from February and the support level 9430.00 (which stopped the short-term A-wave of the active medium-term ABC correction (2) from middle of February. The breakout of this support zone strengthened the already strong bearish pressure on this instrument – which is indicated by the accelerating downward movement on the daily Momentum indicator.

Read more: https://blog.fxopen.com/btcusd-and-ltcbtc-cryptocurrency-technical-analysis/

[voskobojn]

Both Bitcoin and Litecoin are back in a downtrend after recent losses. Since our last update, BTC/USD declined by over $2,000 and is currently quoted at $8,290 dollars per coin. Litecoin is down by $30 dollars to $165 dollars.
Bitcoin Falls Over 20 Percent

Bitcoin has lost over 20 percent of its value during the last ten days. With the break below the $9,211 level, BTC re-entered a bear market on the daily charts. After that breakdown, we saw a substantial decline to $7,656 dollars yesterday. Since then prices bounced back a bit but this seems to be a dead-cat rally.

Read more: https://blog.fxopen.com/bitcoin-litecoin-back-in-downtrends/

[voskobojn]

During the past three days there was a strong bounce in both bitcoin and litecoin. Bitcoin hit a low of $7,287 on Sunday before rallying all the way to $9,020 today. Litecoin was sold to $136.31 before it recovered to hit a high of $172.51 earlier.
Bitcoin Bounces but Downtrend Remains

After large losses of over $2,000 last week BTC/USD hit a high of $9,020 today. Softer tones on crypto regulation from the G20 helped to ease investor sentiment somewhat. During the weekend Mark Carney, the head of the Financial Stability Board, said that ‘crypto-assets do not pose risks to global financial stability at this time’ citing the relative size of the overall market cap.

However a later mention in the G20 communique pledged to apply money laundering and terrorist financing  standards to cryptocurrency. The G20 also called for more information and recommendations on crypto regulation by July.
Read more: https://blog.fxopen.com/strong-bounce-for-bitcoin-litecoin/