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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Fri Sep 29, 2017 12:50 pm

Another Range-bound Week for ETH

Another range-bound week for ETH/BTC. We are trading at 0.07143 BTC right now, down from 0.07304 last week. This is a drop of only 2 percent, small amount for a crypto-currency pair.

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On the news front things are looking ‘rangey’ as well. The proposed Byzantium upgrade got postponed by 8 days to block 437,000,000. This is expected to happened on October 17th versus a previous date of October 9th. A malicious user attacked the Byzantium testnet filling entire blocks with spam contracts. Avoiding any further hiccups will be key for the ETH price going forward.

A breakout above the 0.0775 BTC per coin would start a new rally in ETH/BTC. Resistance above here can be found at the 0.08423 and 0.08621 swing highs. A clearing of this resistance area would push us closer toward the next important level at 0.09322 BTC.

On the lower end, the bears need a break below the 0.06626 swing low to start the downtrend. Support further down can be found at the 0.05875 swing low and the 0.05 round figure. The weekly chart is range-bound as well. The monthly chart is still showing an upward bias.

Read about Dash on FXOpen blog
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Wed Oct 04, 2017 1:09 pm

Bitcoin Downtrend Over

The short-lived bitcoin downtrend is over. Prices broke above the important $4,103 swing high last Wednesday. It’s currently quoted at $4,257 dollars per coin, a gain of $327 dollars or just over 8 percent.

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We are now trading in a large range on the daily charts. The bulls need to clear the $4,500 round figure before a new uptrend can commence. Aside from the round figure, around here we find two previous swing highs at $4,482 and recently at $4,476. A decisive breakout above $4,500 could open the door to a retest of the $5,000 round figure. The all-time high on FXOpen stands at $4,960 with other major exchanges peaking closer to the $5,000 level. A break of this important round level could lead to stronger gains.

On the lower end, the bears need a break below the $2,970 swing low. A move below here would technically restart the downtrend. Support higher up can be found in the $3,500 – $3,510 area, followed by the $4,000 round figure. The large gap between the two key levels ($2,970 and $4,500) shows just how volatile things have been recently. Due to this, it’s recommended that traders utilize smaller than usual trade sizes. While range-bound on the daily, BTC/USD is still looking bullish on the weekly and monthly charts.

Read about Litecoin on FXOpen blog
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Thu Oct 05, 2017 5:52 pm

Ether Resting on Key Support

Ether is resting near key support around 0.06626 BTC. A few days ago we again tested this level with prices bottoming out at 0.06643 BTC before climbing higher. But the bounce was short-lived and we are currently quoted at 0.06763 BTC, very close to the lows.

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The support near 0.06626 BTC has been tested multiple times and remains a key level going forward. A break of this important support could start a new downtrend in ETH/BTC. On the other end, we have the swing high at 0.07750 BTC. A breakout above here could lead to a new rally. As usual with these levels, we’re looking for a sustained break, not just a brief and shallow spike lower/higher.

With prices just skirting on support, things are looking grim for the bulls right now. But all hope is not lost. The Byzantium protocol upgrade has been hard-coded and is now set at block 4,370,000. Current projections put this on October 17th. If everything goes well, the upgrade should improve the speed and security of the network, as well as have a positive impact on the price of Ether. On the weekly charts, ETH/BTC is range-bound as well. The monthlies are still showing a bullish bias.

Read about Dash on FXOpen blog
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Wed Oct 11, 2017 11:55 am

Bitcoin Nears All-Time Highs

The bitcoin surge continues. As you can see on the chart below, the crypto is slicing through resistance levels like a knife through butter.

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As noted last week, with the break of the $4,500 figure BTC/USD has moved back in an uptrend. We are currently trading at $4,829 dollars per coin, only $131 away from the $4,960 all-time high on FXOpen and $171 dollars from the $5,000 all-time high on other major exchanges. This important round figure will be the next milestone. A decisive breakout above it could accelerate the gains.

On the lower end, we have support at the $4,500 level, followed by $4,123 swing low and the $4,000 round figure. A break of $4,123 dollars would mean the technical end of the current rally. Below here we have support area around the $3,500 round figure, where we also find the $3,507 swing low. A clearing of this area would start a new downtrend and could potentially open the door to $3,000. On the weekly and monthly charts, BTC/USD remains in an uptrend.

Fundamentally it appears that (at least partially) the surge is due to the upcoming bitcoin fork in November. Traders may feel emboldened by the ‘free dividend’ they got during the August fork of bitcoin cash. The situation may be different this time around however as there is (still) no safe way to split the coins from the two forks.

Earlier today the main developer behind ‘Segwit2x’ removed the opt-in replay protection due to security concerns. Both the ‘Core’ and the ‘Segwit2x’ camps want to keep the title of ‘true BTC’. They have been unwilling to hardcore ‘replay protection’ in their software because doing so could be seen as admittance that their chain doesn’t have enough hash power to avoid wipe-out.

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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Thu Oct 12, 2017 5:27 pm

ETH/BTC Crumbles as Support Breaks

The key support level at 0.06626 BTC fell on Monday and led to a quick drop to 0.05845. In percentage terms, this was a loss of close to 12% in less than 20 hours. In the next few days prices recovered somewhat but today the decline resumed and we hit new lows at 0.05814 BTC. We are currently trading just slightly off the lows at 0.05834 per BTC.

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As we wrote last week, 0.06626 was key support. A new downtrend has now commenced in ETH/BTC. To end it, the bulls will have to break above the 0.07136 swing high. Higher up a breakout above the next important swing high at 0.07750 is needed for a new uptrend.

Below current prices support can be found at the 0.05 round figure and the 0.04405 swing low, followed by another round level at 0.04 and the 2016 high at 0.03720 BTC. Further down we find a strong support area consisting of the 0.03409 swing high and the 0.03383 swing lows. A clearing of this area could lead to accelerated losses in ETH/BTC. On the longer-term charts, the situation hasn’t changed much. The weekly chart is range-bound while the monthly is still in rally mode.

Read about DSH/BTC on FXOpen blog
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Wed Oct 18, 2017 12:03 pm

Bitcoin Breaks $5,000 Dollars

Bitcoin broke the key $5,000 round figure with easy on Thursday. During a large two-day short squeeze a new high of $5,870 dollars was hit. Since then we’ve been trading range-bound between the highs and the $5,500 level. We’re currently quoted at $5,572 dollars.

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Naturally the uptrend in prices is still in play. To end it the bears will have to push BTC/USD below the $4,283 swing lows. Above here support can be found at the $4,500 round figure, followed by the $4,681 swing high and the former all-time high on FXOpen at $4,960 dollars per coin. But a much stronger support level can be found higher up at the $5,000 round figure. A decisive break of this level should be cause for worry to the bulls, although it wouldn’t technically end the rally.

Higher up we have resistance at the new all-time high of $5,870 followed by the $6,000 round figure. On the weekly and monthly charts bitcoin is looking bullish as well.

Read also about LTC on FXOpen blog
Last edited by fxopen on Thu Feb 08, 2018 11:55 am, edited 1 time in total.
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Fri Oct 20, 2017 4:09 pm

No Help from Byzantium

The Byzantium upgrade transpired this week. For more on what this upgrade entails, please take a look HERE. While technically there were no major problems, price-wise there was no boost for Ethereum. As you can see on the chart below, the short-lived bounce in ETH/BTC was sold into. We’re currently quoted at 0.05329, down by 8.6 percent since last Thursday.

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The downtrend is still firmly in place. To end it, the bulls will have to rally past the 0.06303 BTC swing high. A new uptrend, on the other hand, needs a break above the 0.07136 swing high. The key support below will be the 0.05 round figure. This a double bottom, with lows made back in August and most recently last week. A decisive break below this important pivot could lead to accelerated losses in ETH/BTC.

Further down we have some support at the 0.04405 swing low, followed by another round level at 0.04 and the 2016 high at 0.03720 BTC. Lower still we find a strong support area consisting of the 0.03409 swing high and the 0.03383 swing lows. A clearing of this area could lead to more losses. On the longer-term charts, the situation is still mixed. The weekly chart is range-bound while the monthly is in rally mode.

Read about Dash on FXOpen blog
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Wed Nov 01, 2017 1:22 pm

Bitcoin Surges on CME Futures

Bitcoin surged to new highs today after the CME declared their intention to launch new BTC futures this year. The move comes just 2 months after their rival CBOE made a similar announcement. If approved by regulators, the futures will come in Q4 of 2017 for CME and probably early in 2018 for the CBOE.

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Regulated futures open up bitcoin investment to more institutional money and could potentially lead to an approval of a BTC ETF in the future. In a prior decision this year the U.S. Securities and Exchange Commission denied several bitcoin ETFs. The cited reason back then was the large volume of trading overseas and the lack of information sharing agreements between these trading venues and US exchanges.

Back to the charts! With the help of the CME news, we hit new highs today. Naturally, the rally is still in place. To end it, the bulls will have to push us below the $5,355 swing lows. Support below here can be found at the $5,147 swing low and the $5,000 round figure. You can see more important levels on the chart above. On the long-term charts (both weekly and monthly) BTC/USD is still in rally mode.

Read also about Litecoin on FXOpen blog
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Fri Nov 03, 2017 1:50 pm

New Lows for ETH/BTC

The ETH vs BTC ratio got even lower this week, falling to 0.03712 earlier today. We have since bounced back somewhat and the pair is quoted at 0.04047 BTC right now. This is a loss of close to 20 percent since our last update.

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As noted in that article, before the last fork called ‘bitcoin gold’, traders dumped everything to buy BTC in order to receive the ‘free dividend’. Back then we traded as low as 0.04661 BTC going into the bitcoin fork. Now we have a similar situation with another fork (potentially) coming on block height 494784. Current estimates put the fork in the morning on November 16th.

The downtrend started with the break of the 0.06626 support level continues. To end it, the bulls have to push ETH above the 0.05545 swing high. A move above the 0.06162 swing high is needed to switch the trend to bull. On the longer-term charts we see a mixed picture. Like the daily , the weekly is in a downtrend. But the monthly is still in rally mode. However note that monthly trends take many months to establish and unwind.

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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Thu Nov 09, 2017 5:14 pm

ETH Rallies on Segwit2x cancellation

The planned 2MB block increase got cancelled yesterday. The announcement on linuxfoundation.org says:
‘Although we strongly believe in the need for a larger blocksize, there is something we believe is even more important: keeping the community together. Unfortunately, it is clear that we have not built sufficient consensus for a clean blocksize upgrade at this time. Continuing on the current path could divide the community and be a setback to Bitcoin’s growth’
The post is signed by the lead Segwit2x developer Jeff Garzik, Jihan Wu, a major Chinese miner and Mike Belshe, CEO of BitGo. Erik Voorhees confirmed the news on his twitter.

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After an initial relief rally from $7,462 to $7,887 on FXOpen, we saw an unwinding of the ‘free money’ trade. Bitcoin fell to a low of $6,980 in the next hour. Later in the day, it stabilized around $7,200 dollars per coin. A similar (but upside down) pattern was observed in ETH/BTC. Here we first fell to a low of 0.03773 BTC then rallied to a high of 0.044 BTC. The pair is trading at 0.0428 BTC right now.

Technically ETH/BTC is still in a downtrend on the daily charts. A decisive breakout above the 0.05 round figure is needed to end it. A move beyond the 0.05545 BTC swing high would start a new rally. No change on the longer-term timeframes. Here the pair is in a downtrend on the weekly charts but in an uptrend on the monthly.

Read also about Dash on FXopen blog
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Tue Nov 14, 2017 3:53 pm

Bitcoin Rally Ends

The long bitcoin rally is over, at least on the daily charts. Prices had a sharp correction of $2,361 dollars in the five days after segwit2x was cancelled. As explained previously, segwit2x was a plan to increase the maximum block size from the current 1mb to 2mb, thereby allowing more room for transactions and lower fees.

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With no plan to tackle the high fees problem in the near-term, some market participants are fleeing from bitcoin to other coins. The primary beneficiary here was bitcoin cash (BCH), which saw its prices increase five-fold from 0.08 BTC to peak at over 0.4 BTC during the weekend. The increased price, in turn, led to a rush of bitcoin miners to bitcoin cash, further exacerbating the problem with the high fees and the clogged mempool.

The average bitcoin fee to send a transaction rose to over $16 yesterday, compared with $0.30 for bitcoin cash. The bitcoin mempool is at over 100 mb right now, nearing the all-time highs seen a few months ago. The ‘mempool’ holds all broadcasted transactions that are not yet included in a block. After a price drop to 0.2 BTC and a major mining difficulty increase in bitcoin cash, miners are switching back to BTC. This could help ease the problems somewhat. Currently, the mining hash power is split 92% vs 8% in favor of bitcoin.

Technically BTC/USD is now back in a range on the dailies. A breakout below the $5,426 swing low is needed to start a new downtrend. A move beyond the all-time high at $7,887 would re-start the rally. On the longer-term weekly and monthly charts, BTC is keeping the bullish bias.

Read also about LTC/USD on FXOpen blog
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Fri Nov 17, 2017 12:19 pm

ETH/BTC Back in Range

Ether is back in a range versus bitcoin. This week’s push above 0.05 BTC ended the downtrend. But the gains stopped not far from here without breaking the important 0.05545 swing high. Thus no rally was triggered.

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As you can see on the chart above the segwit2x relief rally was being sold into. But the bears need a break below last week’s low at 0.03712 for a new downtrend. The other trend-starting level is 0.05545 BTC on the upside. A breakout above here could start a rally. Slightly below here we have two weaker resistance levels at the 0.05 round figure followed by this week’s top at 0.0541 BTC per coin. On the longer-term charts, the picture is mixed, downtrend on the weekly but bullish on the monthlies.

Read about DSH and BTC on FXOpen blog
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Wed Nov 22, 2017 11:39 am

Bitcoin Hits $8,347 Dollars

Bitcoin hit a new all-time high of $8,347 dollars today. We are currently trading a bit below the highs at $8,320 dollars per coin. Earlier in the day there was a large dip to $7,769 dollars on news about Tether being hacked. The company issued a post (later removed) in which they say that they will do a software update to prevent the stolen tethers from ‘entering the ecosystem’. This helped to calm market fears and prices were soon trading at all-time highs again.

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Tethers are a digital currency used on many crypto exchanges, so it’s not a surprise to see a large fall in BTC/USD (and LTC/USD) on this news. Some market observers following the creating/redemption of Tethers say that there is a clear connection with the price of bitcoin.

Back to the charts! With the break of the $7,887 level BTC is back in an uptrend on the daily charts. To end it the bears will have to push bitcoin below the $5,426 swing low. A decisive breakdown below here would shift the current trend from up to down. On the longer-term weekly and monthly charts BTC/USD is still looking bullish.

Read about LTC/USD on FXOpen blog
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Thu Nov 23, 2017 3:05 pm

Ether Still in Range

Despite being up 5.25% today and 17 % since our last update, ether is still in a trading range (vs BTC) on the daily charts. Against the U.S. Dollar, ether peaked above the $400 round figure earlier today and is nearing its all-time high at $415 dollars.

As you can see on the chart below, ETH/BTC hasn’t broken the two important swing points at 0.03712 on the downside and 0.05545 BTC on the upside.

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No clear trend can emerge until one of these levels is decisively broken. Below 0.05545 we find two weaker resistance levels at the 0.05 round figure followed by last week’s high at 0.0541. On the longer-term charts we have a downtrend on the weekly but uptrend on the monthlies.

Read also about DSH/BTC and BTC/USD on FXOpen blog
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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Thu Nov 23, 2017 4:22 pm

Interesting blog, but quite difficult

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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Wed Nov 29, 2017 2:32 pm

Bitcoin Breaks $10,000 Mark

Bitcoin prices hit a high of $10,720 dollars today, breaking the psychological $10,000 level. We are currently quoted just slightly off the highs at $10,660 dollars per coin.

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Naturally the rally is still in place, to end it the bears will have to push BTC/USD below the $7,769 swing low. Support above here can be found at the $7,887 and $8,369 swing highs. Somewhat weaker support levels are the round figures at $8,000 and $9,000 dollars per coin. A new downtrend requires a breakdown below the $5,426 swing low. Further down we have strong support at the $5,000 round figure.

Given that we’re at all-time highs there are no previous resistance levels to note above current prices. It’s hard to say where prices may stop/pause as the $10,000 level is decisively broken. Other round figures like $10,500, $11,000 etc may act as resistance, at least temporarily. On the longer-term charts (both weekly and monthly) bitcoin still looks bullish.

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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Fri Dec 01, 2017 2:54 pm

Failed Breakout for ETH/BTC

Ether had a brief break above the upper end of the range at 0.05545 BTC. A high of 0.05906 BTC was seen on November 25th but prices topped out here. We are currently trading much lower at 0.0435 BTC per coin.

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After that failed breakout ETH prices are back in a range. The threshold to start a new rally has now moved to 0.05906 BTC. On the lower end the bears need to push ETH/BTC below the 0.03712 lows to start a new downtrend. On the longer-term charts the picture is mixed. On the weekly charts prices are looking bearish but on the monthly the situation is reversed, with ETH still in an uptrend.

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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Fri Dec 08, 2017 10:12 am

ALTCOINS SOLD FOR BTC

Altcoins are getting sold aggressively for BTC. Since last Thursday BTC/USD gained over 60 percent while ETH/BTC dropped by close to 45 percent. Now both ETH and Dash are in a bear market versus BTC.

ETH/BTC Drops by 45 Percent

Ether has lost almost 45 percent of its value versus bitcoin. There’s a speculative rush into BTC, likely preempting the launch of bitcoin futures. The CBOE announced that they will launch bitcoin futures this Sunday at 6 PM EST. Their competitor the CME will do so 8 days later.

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Today the price of bitcoin hit a new all-time high of $16,614 dollars per coin, peaking at close to $20,000 on some other exchanges. Right now we are trading close to the Fxopen highs at $16,600 dollars. The surge in BTC/USD has led to a massive sell-off in altcoins, with ETH/BTC dropping by 44.83 percent in only seven days.

As we said back on Thursday, the bears need to push ETH/BTC below the 0.03712 lows to start a new downtrend. As can see on the chart above since that break the losses in this pair has been massive. A move back above the 0.05 round figure is needed to end this downtrend. A break above the 0.05906 BTC swing high would shift the trend to the upside. On the longer-term charts ETH/BTC is in a downtrend on the weekly chart but in an uptrend on the monthlies.

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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Thu Dec 28, 2017 1:32 pm

Bitcoin Rally Ends

The uptrend started in November is finally over for BTC after prices broke below the important $12,711 swing low last Friday. Subsequently, we saw a low of $10,680 on FXOpen. From here we retraced most of the losses with prices topping out at $16,470 yesterday. We are currently quoted at $13,680 dollars per coin.

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As you can see on the chart above, we are now in a range. A new rally requires a breakout above the $20,000 round figure. A new downtrend may commence if prices fall below the latest swing low at $10,680 dollars. For now, we remain in ‘wait and see’ mode. Here are some of the important support and resistance levels for bitcoin.

On the upside, we have the latest swing high at $16,470 dollars, followed by two weaker levels at the former swing highs of $17,147 and $17,547 dollars. Higher still we have a major resistance area comprised of the all-time high at $19,850 and the $20,000 round figure. A decisive breakout above this important milestone should lead to a new bullish trend on the dailies for BTC/USD. On the longer-term weekly and monthly charts, bitcoin remains in an uptrend.

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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Wed Jan 03, 2018 1:30 pm

Bitcoin Range Continues

After ending the rally on December 22nd bitcoin remained in a range. The top of this range is at $19,850 all-time high while the low is at the latest major swing low of $10,680. A break beyond either of these price extremes could usher in the new trend. For now we remain in ‘wait and see’ mode.

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On the upside, we have weak resistance at the $15,000 round figure, followed by the latest swing high at $16,470 dollars. Higher still we have two weaker levels at the former swing highs of $17,147 and $17,547 dollars. A major resistance area can be found near the all-time high at $19,850 extending to the $20,000 round figure. A decisive breakout above this important milestone should lead to a new bullish trend on the daily chart.

Support on the way down can be found at $12,711 followed by $11,591 dollars. As noted above the $10,680 swing low is a potential downtrend starter. Further down we have the $10,000 round figure, which may act as support to falling prices. On the longer-term weekly and monthly charts, BTC remains in an uptrend.

Yesterday’s Gemini auction had a volume of only 0.07 BTC, signalling that most of the market checked out for the holidays. As market participants slowly return from the festivities we should see a pick up of volume and hopefully some directional moves.

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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Tue Jan 16, 2018 4:37 pm

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.

Image

One BTC is selling for $11,550 dollars right now. Resistance on the way up can be found around $12,600 – $12,700 dollars per coin, followed by the $15,000 round figure. A breakout above the $17,231 swing high would switch the current trend from down to up.

On the way down we have support at the $10,680 swing low, followed by the $10,000 round figure. A clearing of this psychological support area could intensify the losses for bitcoin. On the weekly and monthly charts BTC remains in an uptrend. However keep in mind that changing these two trends will require many weeks/months.

More bad news for bitcoin. China is looking to expand the scope of its September crypto exchange ban. Authorities may seek to “end” all forms of centralized trading for Bitcoin and altcoins. The increasingly crypto-hostile government seems to be putting pressure on bitcoin miners as well. According to the FT, a combination of measures will be used to ‘guide’ crypto miners toward an exit.

South Korea may clamp down on crypto trading as well. Finance Minister Kim Dong-yeon said earlier today that banning trading in digital currencies was “a live option.” The decision is subject to a thorough government review. This triggered a sharp drop in the price of BTC yet again. After China’s fiat-to-crypto exchange ban last year, South Korea now accounts for the majority of bitcoin trading volume.

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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Thu Jan 25, 2018 3:02 pm

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.

Image

On the chart above the most recent week is shown with a rectangle. Above current prices we find some resistance at $11,595, $12,629 and $12,992 dollars. But the bulls need a breakout above $14,559 dollars to end the current downtrend. A move beyond $17,231 could re-start the rally in BTC/USD.

Despite the recent stability, bitcoin remains in a downtrend. Support below can be found at $10,680, $10,000 and $9,211 dollars per coin. A move below here could intensify the losses. On the longer-term weekly and monthly charts BTC remains in an uptrend.

On the news front not much new for bitcoin. Today Goldman denied rumors that the Bank will get involved with market making in bitcoin futures. This throws more cold water on the hype around BTC futures, which largely didn’t live up to market expectations.

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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Wed Jan 31, 2018 1:49 pm

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.

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The technical picture is unchanged. Bitcoin is still in a downtrend on the daily charts. To end it the bulls will have to push us above the $13,000 handle. A break below the $9,211 swing low could exacerbate the losses. On the longer-term charts BTC/USD is still keeping the bullish bias.

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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Fri Feb 02, 2018 1:41 pm

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.

Image

The ETH/BTC pair is quoted at 0.0976 right now. As you can see on the chart above, the V-shaped formation shows that all gains during the past 24 hours have been lost.

Nonetheless the pair remains in an uptrend. To end it the bears will need to push us below the 0.087 BTC swing low. A break below 0.08 BTC may start a new downtrend. Above these levels we find support at 0.095 BTC. Higher up there’s resistance at yesterday’s high of 0.121 BTC followed by the 0.15 round figure and the 0.15098 all-time high. On the longer-term weekly and monthly charts ETH/BTC is still looking bullish.

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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Thu Feb 08, 2018 3:11 pm

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 $8,415 dollars right now, much below the $19,850 all-time high.

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The downtrend on the daily charts continues. To end it the bulls will need to push prices above $12,000 dollars. A new uptrend requires a breakout above the $12,982 swing high. Support on the way down can be found at the most recent swing low at $5,980 followed by the $5,000 round figure. This is an important milestone for BTC/USD as well as a previous major resistance. A clear break of this level could lead to more BTC losses. On the longer-term weekly charts bitcoin is range-bound. The monthly charts are still keeping the bullish bias.

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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Wed Feb 14, 2018 11:43 am

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.

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This is largely a technical rebound after the large +50% drop that transpired from January 28th to February 6th. During this time bitcoin peaked at $12,161 dollars only to drop to a low of $5,980 only ten days later. The major source of market stress during this time was news that the U.S. government subpoenaed both Bitfinex and Tether.

On the daily charts, BTC/USD technically remains in a downtrend. Before we can call this trend over we need to see a decisive breakout above the $9,475 swing high. Above here the $10,000 round figure should act as resistance but a more important level is $12,161 dollars. A breakout above it could start a new rally.

Below current prices, we find weak support at the previous swing lows of $7,841 and $7,705, followed by the $7,000 and $6,000 round figures. The multi-month low at $5,980 dollars is another notable support, a break of which could intensify the losses. On the weekly charts, BTC is range-bound while the monthly is still keeping the bullish bias.

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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Wed Feb 21, 2018 3:21 pm

Litecoin Surges 46 Percent

Litecoin has been the big winner during the past week. Prices surged higher and are quoted at $227 dollars right now. This is a gain of $72 dollars or just over 46 percent in seven days.

Image

The two main drivers behind the gains have been Litepay and a new fork called Litecoin Cash. While Litecoin founder Charlie Lee called the new fork a “scam” many users seem to have taken up the offer, buying up LTC ahead of the fork in order to benefit from the ‘free coins’. This fork already transpired on Sunday as every Litecoin holder got 10 Litecoin cash coins. So far no major exchanges are supporting the new fork so it’s hard to derive its true value. But on the exchanges where it’s traded prices fluctuated wildly from $5 to $10 dollars per coin. It’s currently quoted at 0.000584 BTC or $6.44 dollars.

Technically LTC/USD is now in rally mode. The bears will need to push prices below $136 dollars to end it. Support above here can be found at the $150 and $160 round figures, followed by the $168.13 and $173.25 swing highs. Higher still there’s more support at the former resistance now turned support at $196.22 and at the $200 round figure. On the weekly and monthly charts Litecoin is also in an uptrend.

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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Fri Feb 23, 2018 2:51 pm

Ethereum Down Over 10 Percent

Ether is quoted at 0.08326 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.

Image

Support on the way down can be found at the recent swing low of 0.07614 BTC followed by the 0.07 and 0.06 BTC round figures. A new uptrend requires a break of the 0.11139 BTC swing high. On the weekly and monthly charts ETH/BTC is still looking bullish.

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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Thu Mar 01, 2018 2:37 pm

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.

Image

Higher up there’s resistance at yesterday’s high of $11,054 but a new uptrend needs a breakout above the $11,769 swing high as well. The swing high at $12,161 dollars is another notable resistance level. We have more levels higher up at $12,629, $12,982 and the $13,000 round figure. On the weekly charts BTC is range-bound as well but the monthly charts are still in an uptrend.

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Re: Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

Wed Mar 14, 2018 6:23 am

Is anybody tell me about the graphs of Cryptocurrency?

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