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Crypto Market Analysis

Daily Crypto Update 04.07.2018 – Bears everywhere

The market is returning all the gains of the beginning of the week in an interesting movement of the bears that shows that the general trend has not changed and

The market is returning all the gains of the beginning of the week in an interesting movement of the bears that shows that the general trend has not changed and

The market is returning all the gains of the beginning of the week in an interesting movement of the bears that shows that the general trend has not changed and that more consolidated movements are needed in order to define a real change.

General Overview

Market Cap: $263.141.302.151

24h Vol: $15.751.561.828

BTC Dominance: 42.2%

The cryptocurrency market capitalisation has dropped by 10 billion in 24-H

Coin Market Trends

Only 14 of the top 100 Cryptos are in green numbers today, this is showing the big percentage of sellers around.

Top 100 Gainers of the day

  1. Syscoin             49,61%
  2. Decentraland  33,11%
  3. Steem               6,66%
  4. Status               6,54%
  5. SmartCash      6,24%

Top 100 Losers of the day

  1. BCN                      -16,35%
  2. Golem                   -14,02%
  3. WAX                     -12,46%
  4. Mixin                    -12,24%
  5. Loom Network   -11,34%

 News

There is not any considerable news that moves the market in the last hours, here is a short summary extracted from the portal CCN.com.

Binance Leads $12 Million Funding Round in the Tokenisation Startup Republic
A retail investment platform called Republic recently completed $12 million in financing to tokenise its platform and introduce its own security token, led by Binance Labs and NGC ECO Fund. The financing round was also supported by ZK Capital, Oyster Ventures, FBG Capital, Hazoor Capital, East Chain, Zhen Fund and others.
Source: CCN.com

Microsoft Launches Enterprise Blockchain Partnership in Taiwan
Microsoft Taiwan has entered into a partnership with Digital China and Hot Cool in the hope that the three companies can use blockchain technology to improve the financial, e-commerce, entertainment, and other industries.
Source: CCN.com

Bermuda Amends Banking Act to Favour Blockchain Startups
Bermuda continues its push to become a global hub for blockchain and fintech innovation, having recently announced plans to change its banking laws to create a class of banks catering to blockchain and fintech companies, according to Finextra. The amendment to the country’s Banking Act follows the recent passage of a Digital Asset Business Act and an initial coin offering (ICO) bill.
Source: CCN.com

COIN MARKET TRENDS ANALYSIS

NEO/USD

NEO is trying to cross the lower side of the bullish pennant pattern in this 60-minute chart after bouncing in the upper side around $37.40. A breakout of this level could be an opportunity to go short in the short term and against the rules of the trend, the bulls have lost strength and they are returning an important part of the 22% of gains of the last two days.


We must wait for a confirmation of the break to enter about $35.31 and look for the $35.17 (Fib. 61.8%) and then the $34.28 (Fib. 76.4). We can go short in $35.31, placing a stop loss at $36.17, take 70% profit at $34.28 and look for the Pivot S2 at $33.16 or the 100% Fib Retracement.

Market sentiment 

Hourly chart signals buy.

Oscillators are leaving oversold levels and pointing up.

Pivot points

S3 41.59 
S2 40.28 
S1 38.51 
P  36.71 
R1 34.48 
R2 33.17 
R3 30.94

BTC/USD

BTC/USD has lost -2.34% in the last 24-H while the buyers weren’t strong enough to maintain the upside momentum and to beat the important resistance at $6,700, with the opening of the Asian Market, the bearish pressure has started and Bitcoin goes back to lower levels close to the Pivot S1 and is sitting at $6,460.


The technical perspective is showing us a possible bounce in this EMA-100 of this 1H chart according to the readings of the RSI and Stochastic showing oversold levels, another test to the EMA-100 could encourage the buyers to push the price again and send it to test $6.676 again.

Market sentiment 

Hourly chart signals buy.

Oscillators are leaving oversold levels and neutral.

Pivot points

R3 6830.92
R2 6750.36
R1 6627.50
PP 6546.94
S1 6424.09
S2 6343.53
S3 6220.67

XRP/USD

XRP has returned more than 62% of its last rally in just 24 hours and has not been able to keep the support at $0.4889, at this moment the price is held by the EMA-100 and if a break by the bears happens we could see a fast drop down to the $0.4500 zone.


Market sentiment 

Hourly chart signals sell.

Oscillators are in oversold levels and pointing up.

Pivot points

R3 0.5521
R2 0.5360
R1 0.5102
PP 0.4940
S1 0.4683
S2 0.4525
S3 0.4265

Conclusion

Coin Market Trends: Although a correction in the rise was expected, this has been quite long and it is still possible that we continue to see minimums in most of the pairs while the BTC continues to feel the pressure of the sellers.

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Crypto Market Analysis

Today´s Crypto Events 04.07.2018

Here you can find all the news about the upcoming hard fork, releases, exchange listings, updates, conferences, new launches, etc. We gather the most relevant events and conferences for you to pick from.

Today´s Crypto Events 04.07.2018

Elastos (ELA) — TokenSky Blockchain Technology Conference in Tokyo

Rupee (RUP) — Swap Ends

PYLNT Pylon Network (PYLNT) — Smart Energy Wales in Cardiff

StrongHands (SHND) — Swap to SHMN

Bytecoin (BCN) — 6th Anniversary Birthday Surprise

True Chain (TRUE) — TokenSky Blockchain Technology Conference in Tokyo

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Crypto Market Analysis

Daily Crypto Update 03.07.2018 – Slight Retracement After The Pop

General Overview

Market Cap: $272,980,602,705

24h Vol: $16,028,501,689

BTC Dominance: 41.6%

From yesterday’s high at around $270B, the cryptocurrency market capitalisation has increase by 2 billion in evaluation.

Crypto Coins News

The market is in green with an average percentage of change among top 100 coins ranging from 5-8%. Biggest gainers are Syscoin 24%, Loom Network 22%, Wax 46%, Ethos 21.89%.

Crypto Coins News

There aren’t any fundamental reasons for the green day we are seeing as there is no major news that is changing the market’s sentiment, so the recovery is based on the price action and the perceived relative value of the cryptocurrencies.

There is news regarding blockchain adoption and utilisation, as well as governmental relation to crypto.

For instance, Bank of Finland released a paper titled “The Great Illusion of Cryptocurrencies,” written by Aleksi Grym, Adviser on Digitalisation and Head of the Digital Central Bank process in the Financial Stability and Statistics Department. The main point of the paper is to explain how cryptocurrencies fundamental nature “shows how poorly understood the concept of money itself still is today” and how the Internet and social media have “muddled our sense of fact and fiction”.

Meanwhile, Japanese financial regulator the Financial Services Agency (FSA) is considering to change the legal basis for how it regulates cryptocurrency exchanges, as reported by cointelegraph.

The FSA is reportedly considering to regulate crypto exchanges by the Financial Instruments and Exchange Act (FIEA), instead of its current legal foundation, the Payment Services Act. According to Senkai, this means that the exchanges will have stronger customer protections. The FIEA obliges securities companies to manage customer funds and securities, such as stocks, separately from corporate assets.

The Association of Thai Securities Companies (ASCO) is considering establishing a joint cryptocurrency exchange, with plans for several firms to apply together for a crypto exchange license, local news outlet Bangkok Post reports July 2.

Pattera Dilokrungthirapop, ASCO chairperson, told the Bangkok Post that several Thai securities firms will apply for a joint crypto operating license with the Thai Securities and Exchange Commission (Thai SEC) in order to reduce costs and share technologies.

While we are on the topic of exchanges, a major headline that was anticipated for quite some time now is that Coinbase Custody – digital assets custodian solution for institutional investors is now launched, according to an official blog post. They have already been storing over 20 billion dollars worth of crypto for their clients, but the new service will notably be secured through an SEC-compliant and FINRA-member independent broker-dealer, Electronic Transaction Clearing (ETC).

Analysis

BTC/USD

From yesterday’s open at 6376$, the price of Bitcoin has increased by 3.15% and is currently sitting at 6556$. The price went further to 6684$ but has retraced since from the spike.



Looking at the hourly chart we can see that the price found resistance at the 6647$ level from which it has retraced. I am expecting the price to fall back to the 0 Fibonacci retracement levels where it will find the support needed to propel the price higher.

Market sentiment 

Hourly chart signals a sell.

Oscillators are on neutral and moving averages on sell.

Pivot points

S3 5712.2 
S2 6118.4 
S1 6368.0 
P 6524.6 
R1 6774.2 
R2 6930.8 
R3 7337.0

ETH/USD

From yesterday’s open at 452$, the price of Ethereum has increased by 3.5% and is currently sitting at 467,9$. The price went higher to 487$ but has retraced since.



As you can see from the hourly chart, the price found resistance at the 482$ level, which pushed the price lower. Currently, the price is looking for support, and it looks like the first support has been found. If this support doesn’t hold the next one should be around the levels of yesterday’s open at 456$.

Market sentiment

Ethereum is in the sell zone.

Pivot points

S3 388.00
S2 427.80 
S1 452.30 
P 467.60 
R1 492.10 
R2 507.40 
R3 547.20

EOS/USD

From yesterday’s open at 8.14$ the price of Eos has increased by 9.23% as the price is currently 8.91$. The price spiked higher to the 9.4$ level but has retraced since.



Looking at the hourly chart we can see that the price found resistance at the 9.27$ level which pushed the price lower. The price is looking like it has found support on the current levels, but if this support doesn’t hold, the next level I would be expecting to serve as strong support is around 8.2$.

Market sentiment 

EOS is in the buy zone.

Pivot points

S3 6.1
S2 7.4
S1 8.19
P 8.69
R1 9.4
R2 9.97
R3 11.2

Conclusion

Crypto Coins News: After yesterday’s pop in the market cap evaluation, we are seeing a first small retracement, as the prices have suddenly and quickly increased. Today we are going to see the prices find the support of the retracement and continue to go upward.

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Crypto Market Analysis

Daily Crypto Update 02.07.2018 – Is The Reversal Here?

The crypto currencies market has received 16 billion in a few hours which has generated a large increase in most of the top 100 cryptos and it seems a possible a reversal in the trend. We have to be careful and expect the week to evolve before taking determinations since the overbought is present in the charts and most likely we will see a strong drop as well.

 General Overview

Market Cap: $267.609.425.759

24h Vol: $14.357.089.584

BTC Dominance: 42.1%

The market is green in most cryptocurrencies with two-digit gains in many of them.

 

Crypto currencies market

 

Top Gainers of the day

1. Dragon Coins DRG  83.97%
2. Bitmark          BTM  69.34%
3. Alphacat        ACAT 63.01%
4. Metronome   MET  43.72%
5. NaPoleonX   NPX    37.91%

Top Losers of the day

1. Pure               PURE -32.86%
2. Selfkey          KEY    -29.27%
3. Aditus           ADI     -23.95%
4. WINCOIN    WC     -18.67%
5. Naviaddress NAVI -17.20%

News

Bitcoin and Ether Surge 6% as Crypto Market Adds $15 Billion in 2 Hours
In the past 2 hours, Bitcoin and Ether, the native cryptocurrency of Ethereum, recorded a 5 per cent increase in value supported by a sudden spike in volume. Within merely hours, the volume of Bitcoin surged by over $1 billion while the volume of Ether increased by nearly 20per cent.
Source: ccn.com

Coinbase Custody Officially Launches for Institutional Investors
Today Coinbase announced that it has officially opened up Coinbase Custody for institutional investors. The announcement, written by Sam McIngvale, product lead at Coinbase Custody, stated that Coinbase Custody accepted its first deposit last week before its official launch today.
Source: ccn.com

Kraken Strikes Back at Tether Price Manipulation Claims
Cryptocurrency exchange Kraken is calling foul on allegations that its tether (USDT) markets are frequently characterised by trading activity commonly associated with wash trading and other forms of market manipulation.
Source: ccn.com

Former ‘Big Three’ Chinese Giant BTCC Relaunches Cryptocurrency Exchange
After shuttering its doors nine months ago, the world’s oldest cryptocurrency exchange is relaunching its exchange platform for business and has revealed its plan to launch its own token in the future. BTCC on Monday announced the launch of its revamped exchange with support for crypto-to-fiat and crypto-only trading pairs including Bitcoin, Bitcoin cash, Litecoin and Ethereum.
Source: ccn.com

Analysis

BTC/USD

The price of the BTC has been showing a considerable rise in the last hours even crossing the resistance of $6563.


It is not yet known what could have caused this new rise but there is something clear and it is that last week the price was affected in a very positive way for the closing of the next futures contracts, the day this happened the price immediately rushed up. Tether also printed an additional 250 million USDT and the market felt the effects of this. After strongly breaking up the level of $6,250, BTC now looks more bullish.

Market sentiment

4-H chart technicals signal a Bullish sentiment.

Oscillators are in overbought zone pointing up.

Pivot points

R3 6604.24
R2 6516.95
R1 6432.72
PP 6345.42
S1 6261.19
S2 6173.90
S3 6089.67

ETH/USD

ETH is raising up considerably today, testing the upper part of the channel on this 4-H chart. The price made a big jump from the central Pivot Point and a breakout of this line could quickly send the price to $500, however, the EMA-200 is a strong resistance to consider at $471 where the price is sitting right now.



Market sentiment

4-H chart technicals signal a Bullish sentiment.

Oscillators are in overbought zone pointing up.

Pivot points R3 6604.24

R3 469.58
R2 463.14
R1 457.54
PP 451.10
S1 445.49
S2 439.06
S3 433.45

XRP/USD

XRP raises 6.75% in the last 24 hours while the market continues in green behind the new Bitcoin rise that drags the other cryptocurrencies along positively. In this rise, the price has broken the central pivot point and also the pivots R1 and R2. At this moment the price is moving at $0.4914 but the indicators are still pointing upwards very close to the oversold area. The EMA-200 could be a strong resistance for the price.



Market sentiment

4-H chart technicals signal a Bullish sentiment.

Oscillators are in overbought zone pointing up.

Pivot points R3 6604.24

R3 0.4901
R2 0.4798
R1 0.4706
PP 0.4604
S1 0.4512
S2 0.4409
S3 0.4317

ADA/USD

ADA has increased its price by 34.5% since June 29th in a very interesting rally, also helped by the price increase of BTC by 4.66% today.



The price has crossed the EMA-100 and pivots R1 and R2 in this 4-H chart, although the indicators are already showing high overbought levels so we could see the entry of sellers in the short term.

Market sentiment

4-H chart technicals signal a Bullish sentiment.

Oscillators are in overbought zone pointing up.

Pivot points R3 6604.24

R3 0.1654
R2 0.1564
R1 0.1491
PP 0.1401
S1 0.1328
S2 0.1238
S3 0.1165

Conclusion

Crypto currencies market: BTC continues moving the market up and down, to consider a reverse on the trend the price still needs to go higher over $8.000 because the pressure remains on the downside, while this happens there is still at risk for deeper setbacks.

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Crypto Market Analysis

Weekly Crypto Update 07.02.2018 – The Recovery Has Started

General Overview

Crypto Coin Market Cap: $270,492,089,135

24h Vol: $16,547,075,818

BTC Dominance: 42.3%

Last Monday on 25th of June, cryptocurrency market capitalisation was

General Overview

Crypto Coin Market Cap: $270,492,089,135

24h Vol: $16,547,075,818

BTC Dominance: 42.3%

Last Monday on 25th of June, cryptocurrency market capitalisation was

General Overview

Crypto Coin Market Cap: $270,492,089,135

24h Vol: $16,547,075,818

BTC Dominance: 42.3%

Last Monday on 25th of June, cryptocurrency market capitalisation was 258,924,000,000$ at it’s highest point. Since then, the market cap fell all the way to 232,613,000,000$ on Friday 29. On Saturday the evaluation rose from those levels back to the levels of Monday’s open, and now we are seeing a breakout as the evaluation exceeds Monday’s around $258B. Because the global chart is lagging behind a bit, I have drawn with a brush were the chart should be at the moment.

Crypto Coin Market Cap Chart

The market is in the green at the moment. Biggest gainers so far among top 100 coins are: Neo 16%, 0x 18.56%, Verge 18.3%, Wanchain 15%. The average percentage increase is around 6% but there are a lot of coins that have gained 10% or more in the lasts 24 hours, which is a sign of recovery.

News

There are a number of significant news items that came out in the last 7 days. Out of those that could impact the market I point out the following:

Facebook will no longer ban crypto ads, but ICOs are still on the blacklist and only verified accounts can post them, according to their announcement. This headline is good, as Facebook ads will help expose the market, however, if they are in control of the type of projects they are going to allow or particular cryptocurrencies, Facebook will have control of the content displayed to the users, and they could, in fact, help manipulate that market, or create a general impression that is aligned with their agenda around a particular coin or project. For example, I don’t believe that they are going to allow promoting Steemit which is a blockchain based social media rival that pays out their users with their native coin. But we are yet to see what happens, as the pressure is applied on to major players but the technological advancements of the blockchain.

Other significant headlines that could impact the market as they bring more exposure and open up the space for new participants are that Binance launches a crypto-fiat exchange in Uganda– Binance Uganda, as reported by cointelegraph. This will bring more cryptocurrency exposure to the retail investors.

On the other hand Blockchain.com – the best-known crypto wallet and blockchain explorer data service has introduced their institutional platform, Blockchain Principle Strategies (BPS). BPS will offer over-the-counter services managed by experts from Goldman Sachs, JP Morgan, and UBS as part of the platform.

Analysis

BTC/USD

From last Monday, the price of Bitcoin has increased by 5.13% coming from 6282$ to the low at 5800$ at its lowest point back to 6443$ and now above the level of last Monday’s open at 6618$.



Looking at the hourly chart, we can see that the price has found support on the unconfirmed triangle support, and broken the downtrends resistance line as it’s heading in an upward trajectory. The first target I am looking at is an unconfirmed baseline support 2 (purple dotted line) at 7054$. I am expecting the first significant resistance from there to 7320$ area, and if the price gets passed through that resistance I am expecting the price to go to around 8000$.

Market sentiment

Daily chart technicals signal a sell.

Oscillators are on neutral and moving averages signal a sell.

Pivot points 

S3 4649.7 
S2 5440.2 
S1 5915.8 
P 6230.7
R1 6706.3 
R2 7021.2
R3 7811.7

ETH/USD

From last Monday’s opening at 451$, the price of Ethereum has increased by 5.34% as its currently sitting around 475$.



On the daily chart, we can see that the correction has ended and it was a WXY correction just like I pointed out it would most likely be in the charting section last week. I have pointed out that this correction might make another low and be complete as a WXYXZ sideways correction but that from those levels around 400$ the price is going up soon. Currently, the price has broken the downtrends resistance line and is heading upward steeply after consolidating in a descending channel.

Market sentiment 

Ethereum is in the sell zone, as indicated by daily chart technicals.

Oscillators are on neutral, and moving averages signal a strong sell.

Pivot points

S3 303.76 
S2 374.27 
S1 414.06 
P 444.78 
R1 484.57 
R2 515.29 
R3 585.80

LTC/USD

In the last 7 days, the price of Litecoin has risen by 5.42% from the opening on last Monday at 81.5$ to 85.8$ where it is currently sitting.



The price of Litecoin has found support at around the 72$ level, which is the level from where the price went on to create the all-time high.  Today the price has broken the downtrends resistance line and is in an upward trajectory. Like in the case of Bitcoin, I am expecting this upward movement to be the final wave Z from the WXYXZ correction from which the price is heading lower afterwards. Some of the significant level to look out for in the following week is from 111$ to 124$ which was considers as a support area, and probably now serves as strong resistance, so I will be closely monitoring what happens at those levels because I am expecting the price to go higher than 124$.

Market sentiment

Litecoin is in the sell zone as indicated by daily chart technicals.

Oscillators are on neutral and moving averages signal a strong sell.

Pivot points

S3 55.377 
S2 67.393 
S1 74.299 
P 79.409 
R1 86.315
R2 91.425 
R3 103.441

NEO/USD

The price of Neo has increased by 15.38% coming from 31.6$ last Monday to 36.42$ where it is currently.



Looking at the Neo daily chart we can spot the similarities between the current candle formation and the last time the price of Neo has recovered from its lowest. As I have measured with the Fibonacci retracement tool, last time the price recovered to the 0.5 Fibonacci level, and I have projected the same recovery this time which fits perfectly with the potential interaction with the uptrend baseline support that was broken. In price terms, I am expecting the price of Neo to rise to around 56.89$.

Market sentiment

Neo is in the sell zone as the daily chart technicals indicate.

Pivot points

S3 16.25 
S2 23.49 
S1 27.20 
P 30.73 
R1 34.44 
R2 37.97 
R3 45.21

DASH/USD

From last Monday’s open at 238.9$, the price of Dash has increased by 5.46% as its currently sitting at 250.8$.



Looking at the daily chart we can see that like in the case of other cryptos that are covered in this report, the price has broken the downtrends resistance line and is heading upward. I have labelled this correction as WXYXZ and as you can see it has ended. I have projected that the price is mostly going to recover to the 384$ as that is the half of the range from the last retracement, much like it did two prior times.

Market sentiment

Dash is in the sell zone, as indicated by daily chart technicals.

Pivot points

S3 155.17
S2 195.52
S1 217.44
P 235.88
R1 257.79
R2 276.23
R3 316.58

ADA/USD

From last Monday’s open at 0.135$, the price of Cardano has increased by 11.42% as its sitting around 0.151$.



As you can see from the daily chart, the 5 wave move down has ended, and the price is now starting to recover in an upward movement after it broke the downtrends resistance. I am expecting the price to go up to 0.23$ where the first major resistance line is and corresponds with the half of the range.

Market sentiment

Cardano is in the sell zone.

Pivot points

S3 0.076333 
S2 0.103199 
S1 0.120628 
P 0.130065 
R1 0.147494 
R2 0.156931 
R3 0.183797

Conclusion

Crypto Coin Market Cap: After the prices have tested the old lows and dipped beyond them a bit we are seeing a trend reversal taking place. As the chart of the cryptocurrencies analysed in this report point out, this is going to be a short-term recovery, before another drop.

This was my projection from 02.06.2018 in which I have drawn the recent low the recovery I am expecting before another potentially final drop to around 178B level.
Crypto Coin Market Cap

This recovery might serve as a great shorting opportunity, but as there is so much manipulation going on, things can get pretty uncertain, so be careful.

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Crypto Market Analysis

Daily Crypto Update 02.07.2018 – Consolidation

General Overview

Market Cap: $255,642,066,379

24h Vol: $14,559,907,139

BTC Dominance: 42.6%

Cryptocurrency Market Consolidation: In the last 24 hours, things haven’t changed much.

General Overview

Market Cap: $255,642,066,379

24h Vol: $14,559,907,139

BTC Dominance: 42.6%

Cryptocurrency Market Consolidation: In the last 24 hours, things haven’t changed much.

General Overview

Market Cap: $255,642,066,379

24h Vol: $14,559,907,139

BTC Dominance: 42.6%

Cryptocurrency Market Consolidation: In the last 24 hours, things haven’t changed much. After the initial spike up, the evaluation of the cryptocurrency market is stagnating making a plateau around 256 billion dollars.

Cryptocurrency Market Consolidation

The market is mostly in red but is showing a mixed colour. The average percentage change is ranging from 0,5-2%. The biggest loser is MOAC who decreased by 21%, and the biggest gainer is FunFair who increased by 10.82%.

News

The only significant news that came out in the last 24 hours is that a flood in China has damaged a lot of mining gear in the Sichuan province, as reported by cointelegraph. The province is known for the crypto mining operations, and cold weather and cheap electricity attracted a lot of miners there. After the heavy rain from 27 to 29 of June, the province was flooded which resulted in the damage of a lot of mining equipment.

Many news outlets, including Golden Finance – Chinese blockchain and crypto information platform who originally reported on this subject, have associated the floods in Sichuan with a drop in Bitcoin network’s hashrate.

The most significant story that came out over the weekend is the speculation on what pushed the price of Bitcoin higher. Some say it is because CME futures expired on 29th of June but there isn’t any detailed analysis of this correlation.

Analysis

BTC/USD

The price of Bitcoin has experienced a recent pop in price, but in the last 24 hours, the price has decreased by 53$.



The price is currently in a descending channel in which it is consolidating after a recent increase which didn’t go above 0 Fibonacci level.

Market sentiment

Hourly chart technical signal a buy.

Oscillators are signalling a sell, and moving average a strong buy.

Pivot points

S3 5990.1 
S2 6170.0 
S1 6259.8 
P 6349.9 
R1 6439.7 
R2 6529.8 
R3 6709.7

ETH/USD

In the last 24 hours, the price of Ethereum has decreased by only 4$.



Looking at the hourly chart we can see that the price is in a descending channel, consolidating, like in the case of Bitcoin.

Market sentiment 

Hourly chart technicals signal a buy.

Oscillators are on sell, and moving averages signal a buy.

Pivot points

S3 426.43 
S2 438.84 
S1 445.44 
P 451.25 
R1 457.85
R2 463.66 
R3 476.07

XRP/USD

From yesterday’s open at 0.468$, the price of Ripple has decreased by 2.39%.



On the hourly chart, we can see the same pattern like on the Bitcoin and Ethereum charts – a rise in the form of a big green candle after which the price is currently consolidating in a descending channel.

Market sentiment 

Ripple is in the sell zone, unlike the previous two cryptos.

Oscillators are signalling a sell, and moving averages also.

Pivot points

S3 0.42020
S2 0.44020 
S1 0.45070 
P 0.46020 
R1 0.47070 
R2 0.48020 
R3 0.50020

Conclusion

Cryptocurrency Market Consolidation: As you can see from the top cryptocurrencies that are covered in this report, the markets are strongly correlated. The rise in evaluation caught many off guard, which is why the prices are consolidating. What will happen after the consolidation there aren’t any signs, but if the pump was artificial, the dump will be worse, like when we saw the last two times this happened – on a short squeeze and again recently in June.

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Crypto Market Analysis

Daily Crypto Update 30.06.2018

The crypto market received more than $23 billion in 24 hours, and the top 100 currencies are in green, some of them with more than 20% winnings in this incredible

The crypto market received more than $23 billion in 24 hours, and the top 100 currencies are in green, some of them with more than 20% winnings in this incredible

The crypto market received more than $23 billion in 24 hours, and the top 100 currencies are in green, some of them with more than 20% winnings in this incredible rally made by BTC yesterday. Five of the top 10 currencies rose more than 10% and Cardano was the one who won the most with 16.55%.

Top Gainers of the week

  1. Selfkey KEY 147.80%
  2. Upfiring UFR 77.83%
  3. SalPay SAL 72.95%
  4. Power Ledger POWR 60.74%
  5. SRCOIN SRCOIN 57.66%

Top Losers of the week

  1. Uquid Coin UQC -21.27%
  2. BitcoinX BCX -18.59%
  3. Experience Points XP -14.52%
  4. SpankChain SPANK -11.31%
  5. Dignity DIG -9.59%

General Overview

Market Cap: $256.803.968.141

24h Vol: $15.152.475.558

BTC Dominance: 42.7%

Cardano, Bitcoin, Ethereum, and Bitcoin Cash are Today’s Big Gainers as the incoming volume of the market increased by more than 23 billion, this transformed into gains for the majority of the cryptos with earnings at this time of 8.40% for the BTC, 9.74% for ETH, 7.97% for XRP and 12.89% for BCH; the other currencies also had significant gains during the session.

Cryptocurrency Charts LiveCryptocurrency Charts Live

BTC/USD

The price of BTC increased $642 in just 3 hours of a rally, going up to $6,520 exceeding Pivot R1 but for a short time since the price stabilised at this level. The price also crossed the upper line of the descending channel and it is likely that if the bears generate some pressure in the next few hours we can see it return to the channel.



Oscillators and indicators are showing that BTC momentum is slowing down, the RSI and stochastic are showing
overbought levels and pointing down, this could lead to the price to lose some value in the short term.

Market sentiment

4-H chart technicals signal a Bullish sentiment.

Oscillators are in overbought zone pointing down.

Pivot Points

R3 6915.15
R2 6606.23
R1 6404.23
PP 6095.31
S1 5893.31
S2 5584.39
S3 5382.39

ETH/USD

ETH has gained 8.84% in the last 24-H due to the big rally behind bitcoin yesterday, the price of ETH is currently at $447.5 being held by the EMA-50 on this 4-hour chart and is also stopped by the Pivot R1.



The pair are still inside the bearish channel and it is possible to see a retracement due to the indicators pointing down and the overbought levels that can let the bears enter the market in the next hours.

Market sentiment

ETH 4-H chart technicals signal a Bullish sentiment.

Oscillators are showing sell signals and pointing down.

Pivot points

R3 487.85
R2 465.12
R1 450.15
PP 427.42
S1 412.44
S2 389.71
S3 374.73

LTC/USD

LTC has gained 10.72% in the last 24-H following the BTC path yesterday as did most of the cryptos. The pair had a big rise of 11 dollars but the strength was not enough and pivot R1 was stronger which bounced the price in this line around the $82 mark. At this time the price is close to $80.90 and setbacks are expected due to the high overbought levels as there are no fundamentals that can move the market this weekend.

 



Market sentiment

ETH 4-H chart technicals signal a Bearish sentiment.

Oscillators are showing sell signals and pointing down.

Pivot points

R3 90.2440
R2 85.3851
R1 82.2097
PP 77.3507
S1 74.1753
S2 69.3164
S3 66.1409

Conclusion

The recent increase in price in the BTC is more than a bull cycle or a change in trend, this was an unexpected gain in value for most of the cryptos and it is most likely that most of them will return a little of yesterday’s winnings.

Categories
Crypto Market Analysis

Weekly Crypto Update 29.06.2018 – The Red Spot

I was thinking there could be a quiet end of this week but the market wants a different thing, yesterday it started a new sell-off in all the charts. During last week, the prices of the main top ten cryptos were moving in narrow ranges and without definition after BTC touched a maximum of $6,319 on Monday 25th and a few hours ago, was very close to the annual minimums touching the $5,790.

General Overview

Market Cap: $234.606.528.197

24h Vol: $12.030.491.219

BTC Dominance: 43.1%

Overall market cap dropped from a weekly high of $ 261,218 Billion to a low today Friday of $ 232,631 Billion and Bitcoin’s dominance has gone up to 43.1% for the first time since April 12.

The important support for the BTC price of $6,000 was lost. The fear in the market is that most of the cryptos will follow the drop of the mother of coins and the result would be a disaster for all cryptocurrencies because we are facing a real possibility to see a minimum of the BTC close to $3,000.

Top Gainers of the week

  1. Selfkey       KEY   90.64%
  2. SPINDLE SPD   90.10%
  3. Paragon    PRG  43.27%
  4. FuturXe   FXE   40.00%

Top Losers of the week

  1. BigONE Token Big -52.59%
  2. PeepCoin PCN -44.25%
  3. CVCoin CVCOIN -31.48%
  4. BioCoin BIO -29.90%

News

There was no remarkable news that could have moved the market considerably. Here is a summary of the most important news items of the week.

The GBTC and Kimchi Premiums are Disappearing Again
Here in late June 2018, the GBTC premium and the South Korean “Kimchi” premium are quickly disappearing. This has historically been a bullish sign that has signalled the end stages of a bear market. It was very close to the last bottom that time; almost the literal bottom of the last cycle on April 9th, 2018

The Bank of International Settlements (BIS) Publishes Negative Report on Crypto
Click to read `The Bank of International Settlements (BIS) Publishes Negative Report on Crypto`
The Bank of International Settlements (BIS) published a mostly negative report on crypto called “Cryptocurrencies: looking beyond the hype.” The report criticises much of crypto while noting the potential importance of the underlying technology.

Crypto Search Trends are Trending up Again!
Crypto search trends are finally trending up again after a “search term correction” started in the winter as crypto prices started to drop. Although it is too early to say for sure, this is potentially a very bullish sign when considered alongside the price and volume data.

Bitcoin Poses Danger to U.S. Elections, Researcher Tells Congress
For a significant part of 2017 and even this year, social media platforms have taken a lot of heat over their alleged role in influencing the 2016 U.S. presidential election. And for a period of time on Tuesday during a congressional hearing, cryptocurrencies were put in the same spot — at least with regards to the future.

Bithumb Has Recovered Nearly Half of Funds Stolen in Last Week’s Hack
Cryptocurrency exchange Bithumb claims that it has recovered nearly half of the funds stolen in a recent high-profile hack at the South Korean trading platform.

South Korea Reveals New [Positive] Crypto Regulatory Guidelines
Financial Services Commission (FSC), the main financial agency of South Korea, has revealed a new crypto regulatory framework and guidelines pertaining to anti-money laundering (AML) and Know Your Customer (KYC) requirements for crypto exchanges.

Analysis

BTC/USD

BTC opened on Monday at $6,160 and touched a high at $6,319, but since then it has been falling slowly during the week, at this moment it is accumulating losses of -5.6% on the week. At the beginning of the trade session, the price reached the annual minimum at $5,838 and at this time it is negotiated at $5,880.


As we mentioned in our crypto analysis yesterday, the level to beat for the bears was $6000 this important support was crossed and if the bears continue to put pressure on the market, the result would be a complete red spot all around the charts with BTC looking for lower levels towards $3,000.

Market sentiment

4-H chart technicals signal a Bullish sentiment.

Oscillators are in oversold zone pointing up.

Pivot points
R3 6405.93
R2 6283.95
R1 6067.61
PP 5945.64
S1 5729.29
S2 5607.32
S3 5390.98

ETH/USD

ETH has lost 9.32% Since opening on Monday and looses 28.5% in June. The bearish trend continues as the bears are putting lower minimums in the chart.


The price is trying to cross the Pivot S1 at $410 and received some difficulty there. It is now sitting around $411 and continues to move down into the bearish channel on this 4-H chart. A breakout of Pivot S1 will probably send the price to the Pivot S2, the important level of $400.

Market sentiment

ETH 4-H chart technicals signal a Strongly Bearish sentiment.

Oscillators are showing sell signals and pointing down.

Pivot points

R3 463.08
R2 453.26
R1 436.81
PP 427.00
S1 410.54
S2 400.73
S3 384.27

LTC/USD

LTC has lost 8.88% Since Monday’s opening and made big loses of 88.4% in June. The price crossed down the triangle chart pattern in $76.47, exactly at the convergence point with the Central Pivot Point and is now sitting at $73.51, an important support to break. The downward trend of the market continues and there are no positive fundamentals that can turn it back, a red weekend is expected for the market.


Market sentiment

LTC 4H chart is showing strongly bearish.

Oscillators are on oversold zone and indicators neutral (Low volatility).

Pivot points

R3 86.1598
R2 83.7105
R1 78.9434
PP 76.4941
S1 71.7270
S2 69.2777
S3 64.5106

Conclusion

The market is making strong short movements that bring new lows in most of the cryptos. The question here is, will the market take a break and recover a little to go down again or this is a confirmed trip to $3.000 in BTC that will drag the others to the ground?

Categories
Crypto Market Analysis

Daily Crypto Update 29.06.2018 – Cryptos on the Prior Low Levels

General Overview

Market Cap: $236,022,628,955

24h Vol: $11,779,795,926

BTC Dominance: 42.9%

In the last 24 hours, the evaluation of the cryptocurrency market capitalisation has decreased from 249,806,000,000$ on yesterday’s high to 233,162,000,000$ which was today’s low. These are the lowest levels the crypto market has been this year, and the last time it was on these levels was on 18th of November last year.

News

Some of the most significant headlines that came out in the last 24 hours can be listed in the ‘exchange related’ category. Those are significant in general as exchanges are considered as large players in the market and they can impact the market significantly. When the cryptocurrency exchange Bithumb got hacked, the market reacted negatively, while other times like when Bittrex announced that they are going to introduce the service of Fiat deposits, the market reacted positively.

While we have mentioned the Bithumb hack, one of the headlines that fit into this category is that this exchange has reduced the estimated amount of money lost in the hack from  $31 million to $17 million, according to yesterday’s announcement.

In another related news, third largest crypto exchange by volume Huobi opens a London Office, set to OTC Trading.

“London was selected as the first office in Europe, due to its preminence as a global financial centre and the largest cryptocurrency trading centre in the region with an active blockchain community and fast developing market,”

Binance is going to launch a Crypto-Fiat exchange in Uganda.  Binance Uganda will be the company’s first endeavour into fiat-crypto trading – supporting the Ugandan Shilling, alongside major cryptocurrencies – and is set to launch imminently. This new option for fiat deposits was announced by Binance and now we are seeing that taking place.

While there are advancements in the crypto exposure to the retail investors, these are also toward institutional ones.

Blockchain.com has recently launched an institutional platform, Blockchain Principal Strategies (BPS), according to yesterday’s blog post.

BPS offers a number of trading and research tools, such as an over-the-counter (OTC) trading desk, a smart Order Management System (OMS), custom portfolio view, risk metrics, as well as access to a research team that staffs Garrick Hileman, the University of Cambridge’s first “cryptocurrency academic,” hired by Blockchain.com in May this year. The OTC services through BPS will be managed by a team of experts from Goldman Sachs, JP Morgan, and UBS.

Another significant headline is the one coming from South Korea, as it reviews its stance on crypto to become blockchain haven, reported by cointelegraph.

South Korea, the country that has been in the forefront of the crypto industry since the 2017 investor boom, is gradually changing its views regarding cryptocurrencies. While the lift on the ICO blanket ban was announced by the officials last month, the country has recently been vocal about its intention to lead the fourth industrial revolution, powered by blockchain initiatives.

This news is reassuring and highly positive. More and more countries are starting to shift their stance as they realise the potential of cryptocurrencies and blockchain technology.

Analysis

BTC/USD

From yesterday’s open at 6150$ the price of Bitcoin fell by 4.43% and is currently sitting at 5876$. The price spiked to 5786$ to retest the last dip levels but left a wick on the hourly chart.



Looking at the hourly chart we can see the price’s instability. I think that the price is going to go to the 6000$ levels now after which the sellers are going to push the price to the 5660$ level where the unconfirmed wedge support line is.

Market sentiment

Bitcoin is in the sell zone as indicated by hourly chart technicals.

Pivot points

S3 5249.9 
S2 5598.5 
S1 5723.3 
P 5947.1 
R1 6071.9 
R2 6295.7 
R3 6644.3

ETH/USD

From yesterday’s open at 442$, the price of Ethereum has decreased by 7% and is now sitting at the 410$ level.



The price has found support on the ending diagonal support line. I am expecting this support to hold for now, and we are going to see it go to the diagonal’s resistance line again. As I am expecting the price to start a trend reversal at the diagonal end, I would be looking if the resistance holds or not. If it holds then another lower low is expected before a breakout.

Market sentiment

Ethereums hourly chart technicals indicate a sell.

Pivot points

S3 375.75 
S2 401.54 
S1 411.16 
P 427.33 
R1 436.95 
R2 453.12 
R3 478.91

EOS/USD

From yesterday’s open at 7.84$ the price of EOS has decreased by 8.5% as it’s currently sitting at 7.19$.



As you can see from this hourly chart, I am expecting another low after this downtrend is finished, to the 6.58$ level.

Market sentiment

EOS is in the sell zone.

Oscillators are on neutral and moving averages on a strong sell.

Pivot points

S3 6.04 
S2 6.80
S1 7.08
P 7.57
R1 7.85
R2 8.34
R3 9.10

Conclusion

The next sell-off has started. We have seen the prices interact with their prior lows, and now they are likely going for a small recovery before another drop that will form a lower low, which would in my mind be the last one of this last downtrend.

Categories
Crypto Market Analysis

Daily Crypto Update 28.06.2018

The Crypto Market is trying to recover slowly from 2 negative days this week. While 6 of the top ten cryptos are still in red, for the first day in

The Crypto Market is trying to recover slowly from 2 negative days this week. While 6 of the top ten cryptos are still in red, for the first day in

The Crypto Market is trying to recover slowly from 2 negative days this week. While 6 of the top ten cryptos are still in red, for the first day in this week the market capitalisation has gone up though only by 2 billion in the last 24 hours. Although the volume has dropped by a little bit, the price of BTC comes strangely in a narrow range during the session and stuck to the central pivot point at $6,098.

General Overview

Market Cap: $245.415.147.783

24h Vol: $10.177.260.767

BTC Dominance: 42.4%

The market continued to perform small ups and downs in the last hours, BTC remains calmed and just above the $6,100 level at the time of writing this update.

News

There is no significant news today that can make the market move significantly, however, the cryptocurrencies always have informative material every day that we summarise here.

An Interview: “Governments Can’t Prevent People from Choosing Crypto”
When you visit a crypto event, like the Block Forum in Vilnius, you take the chance to talk to anyone and everyone who will stop for a chat. This is a foolproof way to learn more about what’s going on in the cryptoverse from the big players themselves. Cryptonews.com talked to Miko Matsumura, co-founder of crypto exchange Evercoin, speaker, initial coin offering (ICO) advisor and investor.

Vitalik Vs. Apple: App Store Is Restrictive & Nobody Is Complaining
Vitalik Buterin, co-founder of the Ethereum platform, is quite active on Twitter and absolutely does not hold back when there is something that needs to be said. This time, Apple’s app store was on the receiving end of his criticism: he thinks that it is strange that they get so much power and almost nobody complains.

20% of UK Millenials Prefer Bitcoin Over Real Estate – Survey
20% of the surveyed UK millennials, a group of the population aged between 21 and 35, would rather invest in Bitcoin than in real estate, the UK-based build-to-rent developer Get Living said in its report “Millenial Living in 2018”
Source: cryptonews.com

As Tezos Prepares for Launch, a Year in Review
In an email sent out to investors, the Tezos foundation stated: “Preparations for the launch of the Betanet are being finalised.”. After running the alphanet, a test network, for over a year now Tezos is expected to launch its beta network in the next few days. The main network launch would follow soon with transactions from the beta network transferred over.

Source: ccn.com

Analysis

BTC/USD

Bitcoin is trading around $6,100 at the moment of this publication, losing -0.17% over the last 24-hours. The price remains in range during the session and still stuck to the central pivot point in this 1H chart. Nervousness and uncertainty, are the words that could describe the market currently and the bearish trend continues to break it, BTC needs to climb at least up to the level of $7,000 which seems quite unlikely.



I’m still thinking that the important level to beat for the bears is $6000; if this level is crossed the pair could be looking again for the yearly minimums around $5781.

Market sentiment

4-H chart technicals signal a Bullish sentiment.

Oscillators are showing neutral signals.

Pivot points

R3 6415.65
R2 6301.73
R1 6217.96
PP 6104.03
S1 6020.26
S2 5906.34
S3 5822.57

LTC/USD

Litecoin price has lost -0.74% in the last 24H and we can see here in this 1-H chart how a symmetrical triangle pattern is formed with the price still stuck in the central pivot point around $79.20, very close to testing the resistance and ready to make another move to the support.



The 50 EMA is also following the price as a dynamic resistance and the 100 SMA keeps below the 200 EMA. Technically speaking this means that the selloff is more likely to resume than to reverse. My expectation is that a stronger selling pressure is coming and LTC/USD would probably break the support line of this triangle as well.

Market sentiment

1-H chart technicals signal a Bullish sentiment.

Oscillators are showing buy signals and pointing up.

Pivot points

R3 90.3521
R2 86.0960
R1 83.4095
PP 79.1534
S1 76.4670
S2 72.2108
S3 69.5244

ETH/USD

Ethereum is forming a Falling Wedge Pattern on this 4-H chart. The price is currently very stable and without much volatility due to nervousness in the market and the current risk aversion of the investors. The price moves to $435.66 at this time, just a little below the central pivot point for almost all day, the 100 SMA is moving below the 200 EMA, technically speaking this means that the selloff is more likely to resume than to reverse.



However, we see that the RSI indicator as much as the Stochastic are pointing up, so it is possible that there is a new entry of buyers that give a bit of dynamism to the boring market today. The most important support is Pivot S1 at $424.

Market sentiment

4-H chart technicals signal a Bearish sentiment.

Oscillators are showing buy signals and pointing up.

Pivot points

R3 479.19
R2 462.80
R1 452.19
PP 435.80
S1 425.18
S2 408.79
S3 398.18

Conclusion

The market has been quiet except for a few coins, the main ones have kept little volume and short movements when this happens, usually, sudden movements can come in any direction so we should be vigilant.

Categories
Crypto Market Analysis

Daily Crypto Update 28.06.2018 – More Downside Expected

General Overview

Market Cap: $246,339,425,253

24h Vol: $10,306,976,047

BTC Dominance: 42.5%

Yesterday the evaluation of the cryptocurrency market capitalization started off with 250,553,000,000$ and from there it fell to 242,196,000,000$ today. Since that low, it has recovered to just slightly below 250B again before it fell back again.

The market is currently showing mixed colours but the more dominant is green. The average percentage change is ranging from 0.5-2%. Biggest gainer among top 100 coin by market capitalisation is Mithril which increased by 19%.

News

There aren’t any significant news items that could impact the market either positively or negatively at this point. However, there are some follow-ups from yesterday and other news that could impact the prices of particular coins.

First in the line is that ZenCash and Tron are added as payment options on Pornhub.

According to a blog post by ZenCash, the new integration will allow users to set up recurring payments and simply pay-per-use while leveraging the anonymity of the privacy coin.

This new use case for these cryptos could impact the price positively, much like it did for Verge when a similar announcement was made.

In the case of EOS, the news is negative. Dan Larimer the CTO of EOS project has proposed rehauling the project’s existing constitution to limit so-called arbitrators’ powers, in an EOSGov Telegram chat yesterday, after the recent mishaps the network has experienced. Three distinct groups work to ‘keep one another in check,’ as defined by the project’s current constitution which are known block producers and is similar to miners in the Bitcoin network.

This could impact the price of EOS negatively as FUD (Fear, Uncertainty and Doubt) takes over.

In the other news that fit into law/regulation category, the most significant one is coming from Hong Kong.

Hong Kong’s Securities and Futures Commission (SFC) released their annual report yesterday, in which they state that they will “keep a close watch” on crypto and Initial Coin Offerings (ICO), as reported by cointelegraph.

The SFC notes that since new technologies “come with risks,” they will be looking closely at crypto and ICOs and “intervening when appropriate.” The report states that the SFC took regulatory action against crypto exchanges and ICO issuers in Hong Kong this year, and released two public warnings to investors about the risk of investing in crypto.

One of the headlines that is neglected but provides an insight into the current fundamentals of the Bitcoin network is the study of Diar in which the analysed Lightning networks usage and transactions, and they have concluded that “the reliability of successfully routing a payment on the Lightning Network is still quite low”.

But while the capacity and the number of nodes as well as channels are increasing steadily, the reliability of successfully routing a payment on the Lightning Network is still quite low, especially for larger amounts. The success rate for a payment for no more than a few dollars between random LN nodes is 70%

The last headline is the one that follows up on Facebook’s ad unban. As you may remember, a few days ago Facebook has decided to lift the ban from cryptocurrency related advertisements.  This follow up is a more detailed view of the implications and the actual changes that are going to be made to their “misleading or deceptive promotional practices” policy.

On June 26, the same policies were again updated and Facebook announced that it would allow cryptocurrencies to be advertised again, but ICOs would remain banned. The company stated that it had been looking at the best way of refining its blanket ban on cryptocurrency adverts.

The revised “prohibited products and services policy” now reads:

“Starting June 26, we’ll […] allow ads that promote cryptocurrency and related content from pre-approved advertisers. But we’ll continue to prohibit ads that promote binary options and initial coin offerings.”

The phrase that caught attention was ‘pre-approved advertisers’, which means that not everyone who wants to advertise will be able to do so.

This censorship will allow Facebook more power to promote those coin and projects that are aligned with their agenda or even moderate content as to create a certain impression of a particular project.

Analysis

XRP/USD

Since yesterday’s open, the price of Ripple hasn’t changed much, as the percentage change is only +0.6%. The price went higher than on the open but it fell down to the prior levels quickly.



 

As you can see from the hourly chart, there’s a bearing pennant from which I am expecting a breakout on the downside. Currently, the price is on the levels of the pennants support in an upward trajectory which is why first I would look out for a bounce from the resistance line before confirming the breakout’s direction.

Market sentiment 

Ripple is in the sell zone, as indicated by hourly chart technicals.

Pivot points

S3 0.40898 
S2 0.43698 
S1 0.45409
P 0.46498 
R1 0.48209 
R2 0.49298 
R3 0.52098

NEO/USD

From yesterday’s open the price of Neo has increased only by 1.34% and is now sitting at around 30$ like yesterday.



The price action has formed a triangle and the breakout is near. From which side the breakout is about to happen we are yet to see but judging by the steepness of the support angle it looks like buyers are more aggressive at this point. But as this is a symmetrical triangle, a breakout from both sides has the same probability. If the price goes up I would be looking at a 33.8$ level as a target, and if it goes down I would look out for 26.28$ level.

Market sentiment 

Neo is in the sell zone, as indicated by the hourly chart technicals.

Pivot points

S3 27.82 
S2 28.97 
S1 29.67 
P 30.13 
R1 30.83 
R2 31.29 
R3 32.44

DASH/USD

From yesterday’s open at 229.4$, the price of Dash has decreased by 3.25% and is now sitting at 221.5$.



On the hourly chart, nothing has changed much. My target of 211.8$ remains the same.

Market sentiment

Dash is in the sell zone.

Oscillators are signalling a sell and moving averages signal a strong sell.

Pivot points

S3 208.22
S2 217.78
S1 223.09
P 227.34
R1 232.65
R2 236.90
R3 246.46

Conclusion

As the market cap evaluation hasn’t gone beyond the 250B level, and the chart of three cryptos that were covered in this report are forming bearish patterns, more downside is expected.

Categories
Crypto Market Analysis

Today´s Crypto Events 28.6.2018

Here you can find all the news about the upcoming hard fork, releases, exchange listings, updates, conferences, new launches, etc. We gather the most relevant events and conferences for you to pick from.

Today´s Events 28/6/2018

Electra (ECA) — ATM & POS Partnership Announcement

Loopring (LRC) — AMA on Reddit

Dragon Coins (DRG) — Dragon Exchange Open Beta Release

Dignity (DIG) — Press Conference

Wings WINGS Wings (WINGS) — Ethereum Japan Meetup in Tokyo

AirSwap AST AirSwap (AST) — Ethereum Japan Meetup in Tokyo

IoTeX (IOTX) — Testnet Alpha

IOTA MIOTA IOTA (MIOTA) — Blockchain Expo Europe 2018 in Amsterdam

Covesting COV Covesting (COV) — Community Contest Begins

Gifto (GTO) — Blockchain Open Forum in Seoul

FundRequest FND FundRequest (FND) — BuildETH Conference in San
Francisco

Credits CS Credits (CS) — 2018 Blockchain Open Forum in Seoul

NEM (XEM) — 2018 Blockchain Open Forum in Seoul

Ripple XRP Ripple (XRP) — 2018 Blockchain Open Forum in Seoul

Monaco MCO Monaco (MCO) — 2018 Blockchain Open Forum in Seoul

SIRIN LABS Token (SRN) — 2018 Blockchain Open Forum in Seoul

Cobinhood COB Cobinhood (COB) — 2018 Blockchain Open Forum in Seoul

Lisk LSK Lisk (LSK) — Distribute 2018 in Hamburg

Vice Industry Token (VIT) — Platform Launch

PolicyPal Network PAL PolicyPal Network (PAL) — Echelon Asia Summit
in Singapore

TenX PAY TenX (PAY) — Echelon Asia Summit in Singapore

TenX (PAY) — Q&A on Reddit

Lisk LSK Lisk (LSK) — Meetup in Moscow

Bluzelle BLZ Bluzelle (BLZ) — Echelon Asia Summit

Storiqa (STQ) — Echelon Asia Summit in Singapore

Civic CVC Civic (CVC) — TokenMarket 2018 Summit in Gibraltar

Gnosis GNO Gnosis (GNO) — TokenMarket 2018 Summit in Gibraltar

Rivetz (RVT) — TokenMarket 2018 Summit in Gibraltar

Endor Protocol EDR Endor Protocol (EDR) — Blockchain in Shared
Services Summit in Dallas

Gulden NLG Gulden (NLG) — PoW² Release

Achain (ACT) — Achain 101 Roadshow in Ubud

Linker Coin LNC Linker Coin (LNC) — BitNaru Exchange Listing

Ink Protocol XNK Ink Protocol (XNK) — Ink Pay Public Beta

XinFin Network (XDCE) — Echelon Asia Summit in Singapore

POA Network POA POA Network (POA) — Blockchain Networking Party in
Amsterdam

POA Network POA POA Network (POA) — BuildETH Conference in San
Francisco

Alphacat (ACAT) — Shanghai Financial Services Fair

Lisk LSK Lisk (LSK) — Core 1.0.0 Public Testnet

Categories
Crypto Market Analysis

Cryptocurrencies and Manipulation

Cryptocurrency Market Manipulation

It’s a well-known fact that cryptocurrency market manipulation is caused by many factors. But so is every other market in the world. So why are cryptocurrencies so

Cryptocurrency Market Manipulation

It’s a well-known fact that cryptocurrency market manipulation is caused by many factors. But so is every other market in the world. So why are cryptocurrencies so

Cryptocurrency Market Manipulation

Cryptocurrency Market Manipulation

It’s a well-known fact that cryptocurrency market manipulation is caused by many factors. But so is every other market in the world. So why are cryptocurrencies so much more volatile in the times of manipulation?

Why Does Manipulation Affect Cryptos So Much?

Cryptocurrencies, and mainly Bitcoin are extremely susceptible to manipulation. The reason for that is the big growth crypto movement had in the past years. If you think about it more, market cap certainly does not reflect the total money that went into the crypto markets. Another reason would be the youth of the market and the general mentality of an average crypto investor.

Overleveraged Dollar Value

Early investors could buy Bitcoin for as low as $400 not so long ago. And as the value of a cryptocurrency is just as much about what the next person is willing to pay, with more adoption and speculation, the price rose. With the price, market cap rose too. That made every dollar put in become overleveraged and worth a lot more, for both up and down moves. In trading, this means that less actual money is needed to bring a market up or down. People brought markets down, and rose it up for several billion market cap wise, with only several million dollar orders.

Average Investor Mindset

If we look at an average crypto market investor, it does not match the profile of a traditional markets investor. A traditional investor is in his mid-40s or 50s, middle class and calm. On the other hand, an average crypto investor is young, without much knowledge of the markets, financially dependent and very susceptible to fear of missing out and fear of losing. That’s why the reactions of crypto investors are much more linear, both to the up and down side.

This creates a problem as an already overleveraged market cap of cryptocurrencies gets shook by multi-million dollar manipulative order, and that creates unreasonable fear with the investors. And since our average investor is young and does not handle stress well, he buys or sells in excess, which further accentuates the move. This happens in both a downturn and an upswing.

Conclusion

Cryptocurrencies will remain volatile for a couple more years until the profile of an average investor changes. When investors become more mature, the market will follow. This, however, will not happen in a month or two. Market maturity is a process that every tradable asset needs to go through.

Categories
Crypto Market Analysis

Weekly Crypto Update 27.06.2018 – One More Low Expected To The Bottom

General Overview

Market Cap: $245,897,879,486

24h Vol: $10,982,438,642

BTC Dominance: 42.6%

From last Monday, the cryptocurrency market has been in a constant decline as the market fell from 294,184,000,000$ which was last weeks high on Tuesday 19.06.2018. The lowest the crypto market has been was on Sunday when the crypto market capitalization hit 235,331,000,000$.

Those levels were expected to be a lower low after which the cryptos were going to recover, but as the new high failed to exceed the prior one, there aren’t any signs of a trend reversal, and the evaluation is close to the last low levels. This situation implies that a lower low is more likely and that this is the bottom after which the trend reversal is going to start.

News

Out of those stories that marked the past week, the most significant one is the Bithumb hack.

Bithumb, which has fallen from 6th to 10th place for cryptocurrency exchanges worldwide by trading volume, has had about $30 million worth of cryptocurrencies stolen in an apparent hack.

This headline created a lot of FUD (fear, uncertainty, and doubt) in the market and many blamed this event as the fundamental reason of the continuation of the bear market, which was not the case as this exchange is not that large.

In the law and tax category, there are two major headlines. First is that  U.S. federal employees will have to report their cryptocurrencies holdings if they equal more than $1,000 or made more than $200 during the reporting period. The other one is that the Uruguayan Chamber of Fintech has announced the creation of a special committee to develop a framework for crypto regulation and promote innovation to support the country’s financial system.

Both of this news is positive, as the first one implies that cryptocurrency is valuable and should be reported as “other forms of securities.”

In the adoption category, the news items that stands out is the news of Square receiving the New York BitLicense. The announcement means that Cash App users in every state except for Georgia and Hawaii now have the option to buy and sell Bitcoin.

Analysis

BTC/USD

From the opening on Monday, June 18 at 6875$, the price of Bitcoin has decreased by 11.19% as it is now sitting around 6110$. The opening price is the highest Bitcoin has been, and the lowest was at 5770$, from which it quickly recovered closing as a Doji candle with a big a wick from the downside on the daily chart on 24.06.2018.



Looking at the daily chart, we can see that the current wave is near completion, but it looks like another low might happen whos target I’ve projected to be from 5664$ on the supportive significant level (purple dotted line), to 5515$ which is the support line from which Bitcoin created the all-time high. As I think this current wave is the wave X of the WXYXZ sideways correction, I am waiting to see signs of the short-term trend reversal, before the price continues to new lows.

Market sentiment 

Daily chart technicals signal a strong sell.

Oscillators are on sell, and moving average signal a strong one.

Pivot points

S3 4426.3 
S2 5365.2 
S1 5758.6 
P 6304.1 
R1 6697.5
R2 7243.0 
R3 8181.9

LTC/USD

From last Monday, the price of Litecoin has depreciated in value from 100$ to slightly below 80$ which is a 20% decrease in ten days. The opening on Monday was the weeks high, and the lowest Litecoin has been is to the 73.5$ area on Sunday.



Looking at the daily chart, I am seeing another low ahead to the support line at 71.29$ which is significant as from that level the price of Litecoin went on to create the all-time high. If that level holds I would be expecting a short-term trend reversal as I think that the current wave is an X from the WXYXZ sideways correction. 

Market sentiment

Litecoins daily chart technicals signal a sell.

Oscillators are on sell, and moving averages signal a strong one.

Pivot points

S3 44.663 
S2 66.371 
S1 74.517 
P 88.079 
R1 96.225 
R2 109.787 
R3 131.495

EOS/USD

At the start of last week on Monday, June 18, the opening price of EOS was at 10.95$. Since then the price has decreased substantially to 8$ which is a decrease of 25.81%. The price went even lower on Sunday when it spiked to 6.89$.



Looking at the daily chart, we can clearly see that the corrective move was a WXY correction and that the Y wave is near completion. I am expecting the price to drop to the 6.58$ level were an 8/1 Gann fan level is and another support level from a prior range from whom similarly to the case of Bitcoin and Litecoin, the price created the all-time high. As this would be the last low a trend reversal would be expected, but how long would it live we are yet to see from the formations and patterns ahead.

Market sentiment

Daily chart technicals signal a sell.

Oscillators are indicating a sell, and moving averages signal a strong one.

Pivot points

S3 3.3173 
S2 6.2033 
S1 7.2797 
P 9.0893 
R1 10.1657 
R2 11.9753 
R3 14.8613

XRP/USD

From the opening price at 0.55$ last Monday, the price of Ripple has decreased by 15.48% as it is now sitting at 0.47$.



On the chart, we can see that the support at the prior low level at 0.4541$ held the price again. As the current wave is the last impulse wave I am expecting a trend reversal, but the price may fall a bit lower before that happens. The new potential low would be at the next support level at 0.4144$. However, this level may hold and the trend reversal starts happening from here. The move up would be a corrective move, probably in a form of another three-wave ABC move, which is why I am expecting the price to go down further.

Market sentiment

Ripple’s daily chart technicals indicate a sell.

Oscillators are signalling a sell, and moving averages a strong one.

Pivot points

S3 0.32270 
S2 0.41468 
S1 0.45231 
P 0.50666 
R1 0.54429 
R2 0.59864 
R3 0.69062

XMR/USD

The price of Monero is on the same levels like on Monday last week which is around 128$. The price fell by 17% from Monday to Sunday to the weeks low at 106.78$.



Looking at the 4-hour chart, we can see that the price is currently on the rise, but that would only be a corrective move from where I am expecting the price to go lower to the 100$ level, which would be the support line 2 of the support area.

Market sentiment

Monero is in the buy zone.

Both oscillators and moving averages signal a buy.

Pivot points

S3 97.133 
S2 102.972 
S1 108.811 
P 126.405 
R1 146.510 
R2  190.105 
R3 210.210

Conclusion

If you remember this was my projection from 02.06.2018

As you can see I was expecting to see on the global chart that the prior lows at around 250 billion dollar evaluation get retested, after which another similar pattern would appear.

The lows were retested and the evaluation is hovering around those levels which is why now I am looking for signs of a reversal.

After looking at the charts of major cryptos, and especially Bitcoin as it has the 42% market dominance, I think that another low is going to happen before some short-term recovery. Those lows would be to tests the support levels from where the all-time high was made in all cryptos that we’ve covered in this report.

Categories
Crypto Market Analysis

Daily Crypto Update 27.06.2018 – More Stagnation

General Overview

Crypto Market Capitalization Chart:

Market Cap: $246,600,162,313

24h Vol: $11,274,713,968

BTC Dominance: 42.5%

In the last 24 hours, the evaluation of the cryptocurrency market capitalisation has decreased from $256B to 242,426,000,000$ and has recovered slightly since.

Crypto Market Capitalization Chart

The market is currently in red with an average percentage change among top 100 coins ranging from 3 to 6%. Monaco, Nebulas and Qtum are the only ones in green with an increase of 11, 8, 7%, respectively and everything else is in red with biggest losers being around 11%.

News

In the last 24 hours, the most significant headlines that came out, many of them regarding cryptocurrency exchanges, are as follows. The first that came out is Binance suspended trading and withdrawals due to a risk warning, according to a note from Binance.

“Due to a warning from a pre-trade check in our risk management system, we will postpone the start of trading and withdrawals.

Please stay tuned for more information regarding the reopening of trading and withdrawals.

We apologise for any inconvenience and thank you for your patience.”

 

Meanwhile Singapore-based CoinBene and Hong Kong-based Bit-Z have introduced a new “transaction fee mining” model which made them the largest volume holders in the last 24 hours, with the first one ranked as first with more than $2.1 billion in trading volume, and second one ranked as second with about $1.5 billion in trading volume over a 24 hour period.

This impacted the rank of Binance, which previously sat in the number one spot and is now ranked fourth, with 629$ million in daily trading volume.

The third largest cryptocurrency exchange in the world by 24-hour trading volume, Huobi has announced in an email sent to investors in Japan on Wednesday, that they are to remove the Japanese option from its homepage and suspends trading services from July 2, as reported by Coinpost.

As suggested in the Coinpost report, Huobi Pro made the decision to withdraw Japan-based services because is not registered with the Financial Services Agency (FSA), Japan’s financial watchdog, as mandated under a money transaction law introduced in 2016. It is not currently clear if the exchange has been contacted by the FSA over the issue.

While we are on watchdogs, another significant headline that fits into the exchange category is that Korean Watchdog is to tighten the rules on crypto exchange bank accounts.

South Korea’s financial regulator has amended the anti-money laundering rules that apply to cryptocurrency exchanges in the country, requiring domestic banks to tighten up monitoring of related bank accounts.

According to an announcement from the Financial Services Commission (FSC) on Wednesday, the amendment – which will initially be in effect for a year – means domestic banks who provide services to crypto exchanges must now monitor all the accounts held by an exchange.

Out of the news items that’s not in the exchange related category, the most significant one is that Facebook has updated its policy to allow cryptocurrencies to once again be advertised, while upholding its ban on the promotion of initial coin offerings (ICOs), in an announcement published Tuesday, June 26, as reported by cointelegraph.

Analysis

BTC/USD

From yesterday’s open at 6251$, the price of Bitcoin has decreased by 2.66% as it’s now sitting at 6090$.



As you can see on the hourly chart, from the resistance found at 6277$, the price has been in a constant steady decline. The price interacted with the downtrends resistance line with a quick spike in order to test that resistance. We can expect that the price is going to continue its downward movement today and go to the support line at 6000$.

Market sentiment 

Bitcoin is in the sell zone.

Oscillators are on neutral and moving averages signal a strong sell.

Pivot points

S3 5673.6 
S2 5904.2 
S1 5988.8
P 6134.8 
R1 6219.4 
R2 6365.4 
R3 6596.0

ETH/USD

From yesterday’s open at 461.22$ the price of Ethereum has decreased by 6% coming to around 432$ where it is currently sitting.



Looking at the hourly chart we can see that the price is currently on the levels of the downtrend resistance line where the price is looking for support, but as the trend is down the support goes down as well. We will see if the support hold, but lower low is more likely at this point.

Market sentiment 

Hourly chart technicals signal a sell.

Oscillators are signalling neutral and moving average a strong sell.

Pivot points

S3 374.87
S2 407.37 
S1 418.35
P 439.87 
R1 450.85
R2 472.37 
R3 504.87

XRP/USD

In the last 24 hours, the price of Ripple has decreased by 3.91% from 0.4819$ to 0.4629$.



Looking at the hourly chart we can see that the price is on the same levels of the recent low as it retested the 0 Fibo level. It has recovered slightly but not nearly that fast in order to show some sign of strength, which is why I think we are in for more downside today.

Market sentiment 

Ripple is in the sell zone.

Oscillators are on neutral and moving averages signal a sell.

Pivot points

S3 0.39681 
S2 0.42945 
S1 0.44081 
P 0.46209 
R1 0.47345
R2 0.49473 
R3 0.52737

Conclusion

Looking at the charts of the three cryptos we covered in this report, I am under the impression that the prices are struggling and aren’t stable. They are at or close to the levels of the recent low as the recovery was short-lived. We are potently going to see another low today, but the continuation of the stagnation with some sideways movement is more likely.

Categories
Crypto Market Analysis

Today´s Crypto Events 27.6.2018

Here you can find all the news about the upcoming hard fork, releases, exchange listings, updates, conferences, new launches, etc. We gather the most relevant events and conferences for you to pick from.

Today´s Events 27/6/2018

NEO (NEO) — Snapshot for NNC Airdrop

Phore (PHR) — Partnership Announcement

Phore (PHR) — Blockchain Expo Europe in Amsterdam

Golem (GNT) — AMA on Reddit

IHT Real Estate Protocol (IHT) — CoinTiger Exchange Listing

Pundi X (NPXS) — Bit-Z Exchange Listing

ODEM (ODE) — Meetup in San Francisco

Creativecoin (CREA) — Weeklys Challenge

MyBit Token (MYB) — Meetup in Amsterdam

Publica (PBL) — Blockchain Summit in London

Bitcoin (BTC) — Snapshot for Airdrop

Cashaa (CAS) — Empire Startups Fintech Conference in Toronto

Fusion (FSN) — Meetup in London

Endor Protocol (EDR) — Blockchain Expo Europe in Amsterdam

Categories
Crypto Market Analysis

Daily Crypto Update 27.06.2018

The Crypto Market starts the second day in red this week with only 5 of the top ten cryptos in positive, QTUM, Bitcoin Diamond, Cortex, Emercoin and Monaco. There is no concrete explanation of what is happening with the market and Bitcoin is trading around $6,170 at the moment of this publication, losing -2.58% over the last 24-hours

 

General Overview

Market Cap: $243.263.694.472

24h Vol: $10.798.007.593

BTC Dominance: 42.7%

There is a bearish dominance all around the charts but with low volume. The market has lost 8 Billion in just 1 day, what is showing is a dark perspective for the coming session.

News

Interest in Bitcoin Set to Double in Europe, New Survey Suggests
People hear and know more about cryptocurrencies with every passing day, and according to a new survey, interest in Bitcoin is expected to increase twofold in Europe.

Crypto Exchange Resumes Trading in India Despite Problems with Banks and RBI
Cryptocurrency exchange Belfrics has resumed trading operations in India after halting earlier this year due to banks refusing to provide payments solutions to the exchange.

Meet Three More Applications That Utilize Bitcoin Cash OP_Codes
Over the past month or so since the most recent Bitcoin Cash (BCH) network upgrade, a lot of developers have created platforms and extensions that utilise the re-enabled Satoshi OP_Codes.

If You Can’t Beat Them, Join Them – Bitcoin Is Hiring Regulators
While everyone is looking for an indication that institutional money is about to flood into bitcoin and revive the market, we just got another confirmation that crypto has indeed entered the big leagues.

Source: news.bitcoin.com

Analysis

Bitcoin is trading around $6,170 at the moment of this publication, losing -2.58% over the last 24-hours. The pair easily crossed the central pivot point in this 1H chart and is now again dangerously close to the $ 6000 level; if this level is crossed the pair could be looking again for the yearly minimums around $ 5.781



Market sentiment

1-H chart technicals signal a Strongly Bearish sentiment.

Oscillators are showing sell signals and pointing down.

Pivot points

R3 6442.78
R2 6357.63
R1 6213.87
PP 6128.72
S1 5984.96
S2 5899.81
S3 5756.04

LTC/USD

Litecoin price has lost -7.54% in the last 24H and is now moving around $75.56 and again, in two days, very close to the year low around $73.62. This price can be the support to beat for the bears and if a breakout happens here the drop can easily move the price to $65.


Market sentiment

4-H chart technicals signal a Strongly Bearish sentiment.

Oscillators are showing sell signals and pointing down.

Pivot points

R3 87.5511
R2 85.0221
R1 80.4131
PP 77.8841
S1 73.2751
S2 70.7460
S3 66.1371

XRP/USD

XRP has lost -5.05% in the last 24h and like many of the cryptos in the market, it has been bearish during the last session. The pair was stuck in the bearish descending line for several hours and then bounced from there to cross the central pivot point and now is sitting around $0.45.



Market sentiment

4-H chart technicals signal a Strongly Bearish sentiment.

Oscillators are showing sell signals and pointing down.

Pivot points

R3 0.5039
R2 0.4931
R1 0.4728
PP 0.4620
S1 0.4417
S2 0.4309
S3 0.4106

Conclusion

The bears are definitively driving the market and we must be prepared for further drops in the short time, the corrections were not strong enough and the buyers are just spectators waiting for an opportunity.

Categories
Crypto Market Analysis

XMR Retesting Previous Levels

Monero Live Price

  • Market cap: $1,985,355,918 USD
  • Total supply: /
  • Circulating supply: 16,170,159 XMR
  • Daily volume: $35,912,200 USD

XMR retesting previous levels

Monero has been pretty quiet in the past month or so. Privacy and anonymity were not a priority when it came to cryptocurrencies, as adoption and manipulation prevention was the biggest problem. However, Monero has managed to break the chains, and leave its “comfort zone”. For the past month, it was ranging between the support and resistance lines. But, they were moving downwards, and that was not good for the price of Monero. After two unsuccessful attempts, Monero has broken the resistance line upwards and got some momentum. Of course, a retracement has to come sooner or later, and we are expecting Monero to retest the line yet again, but from the other side. What will happen?

Monero Live Price Chart


Trading XMR/BTC In The Current Market

There are two possible scenarios. The first one is that XMR will bounce off of the line and go up in price, making it clear that the once ranging line that bound it to a price level is left behind. The other one is, of course, to break the line downwards and fall down in price. It will all depend on the Bitcoin price levels and movement. With everything being pegged to Bitcoin, we need to take everything into consideration, including the future movements of Bitcoin.

Cryptocurrencies are pegged to Bitcoin because it’s the entrance and the exit to the crypto world, meaning that everyone has to buy into Bitcoin before diversifying. When Bitcoin goes down, everything does. If Bitcoin goes up, so do other altcoins. When trading Bitcoin, trading should always be in the direction of the major trend. When trading altcoins, one should always trade after getting the confirmation given by the altcoin pattern, but with one thing on top of it. Bitcoin has to match in trend direction in order for the trade to be validated.

Categories
Crypto Market Analysis

Daily Crypto Update 26.06.2018

The Crypto Markets were Recovering yesterday after Weekend Losses but today we are seeing negative 24h numbers in the top 10 currencies. Bitcoin is trading around $6,173 at the moment of this publication, down around -0.45% over the last 24-hours. Yesterday, BTC raised to $6.342 but since then, the price started to go down, crossed the 100-50 EMAs and seems to be bearish for the remaining time of the trading session, according to the indicators. As we said it, the ten first currencies of the market are in red and the one that loses the most at this moment is Ethereum with -3.16%

General Overview

Market Cap: $251.594.440.275

24h Vol: $17.855.718.044 .

BTC Dominance: 42.0%

Suddenly the market that came a little inactive has become bearish and there are some lost in major cryptos, we must be alert to a possible drop.

The market is turning negative in the last hours but it has only lost a Billion in the capital in 24H, contrary to what we were thinking, apparently the market is not going to have a long setback and would like to resume the low levels of the weekend.

News

20 Percent? Japan’s Finance Minister Ponders Crypto Tax Policy Change
Japan’s minister of finance has discussed the possibility of changing the country’s current capital gains policy which sees crypto investors face between 15 and 55 per cent in taxes.

Breaking New Ground: South Africa Gets Its First Bitcoin Atm
South Africa, whose citizens are increasingly interested in investing and trading in cryptocurrencies, is to have its first functional bitcoin Automated Teller Machine (ATM), following up on Zimbabwe and Djibouti.

Crypto Market Remains Relatively Stable: Theta Surges 30% as Tokens Record Big Gains
The crypto market has slightly rebounded by $4 billion over the past 24 hours, providing investors with a breathing room in a major mid-term sell-off and downtrend.

Robinhood Aims to Disrupt Further by Launching a Cryptocurrency Wallet
If established cryptocurrency exchanges didn’t take notice when commission-free trading app Robinhood started offering free cryptocurrency trading earlier in the year, they are likely to now.

Source: ccn.com

Analysis

BTC/USD

Bitcoin is trading around $6,173 at the moment of this publication, down around -0.45% over the last 24-hours. Yesterday, BTC raised to $6,342 but since then, the price started to go down, crossed the 100-50 EMAs and seems to be bearish for the remaining time of the trading session, according to the indicators in this 1H chart. The immediate support is $ 6,131 and next to the Pivot S1 around $6,096.



Market sentiment

4-H chart technicals signal a sell sentiment.

Oscillators are showing sell signals and pointing down.

Pivot points

R3 6637.76
R2 6491.77
R1 6370.11
PP 6224.12
S1 6102.47
S2 5956.47
S3 5834.82

LTC/USD

Litecoin price has lost -1.99% in the last 24H after touching yesterday highs around $84.18. The price was moving over the central pivot point during the beginning of the session but this support was lost and now the price is testing the pivot S1 at $78.81 in this 1H chart.



Market sentiment

1-H chart technicals signal a Strongly Bearish sentiment.

Oscillators are showing sell signals and pointing down.

Pivot points

R3 90.0820
R2 87.2371
R1 84.4182
PP 81.5733
S1 78.7544
S2 75.9096
S3 73.0906

XRP/USD

XRP has lost -1.17% in the last 24h after finding a strong resistance in the central pivot point around $0.4817 and now is testing the pivot S1 in $0.4711. As like some of the main currencies, XRP comes negative in the last hours. If the Pivot S1 can support the price pressure we could see a bounce to $0.4793, if a breakout happens, a considerable drop can come for the pair.



Market sentiment

1-H chart technicals signal a Strongly Bearish sentiment.

Oscillators are showing sell signals and pointing down.

Pivot points

R3 0.5097
R2 0.5006
R1 0.4905
PP 0.4814
S1 0.4713
S2 0.4622
S3 0.4520

Conclusion

There is a new bearish and unexpected scenario today. Although the losses have not been so big, the market is feeling nervous again, which may lead us to go back to the weekend minimums very soon if the selling pressure is still active.

Categories
Crypto Market Analysis

Today´s Crypto Events 26.6.2018

This is the Cryptocurrency events calendar. All the news about the upcoming hard fork, releases, exchange listings,  updates, conferences, new launches, etc.

Today´s Events 26/6/2018

Playkey (PKT) — Blockchain Summit in London

Storiqa (STQ) — Lunch Fireside Chat Seminar in Bangkok

Huobi Token (HT) — Huobi Europe Quant Trade Summit in Amsterdam

Phore (PHR) — Blockchain Summit in London

TRON (TRX) — Super Representative Election – Tradesatoshi Exchange Listing

Zoin (ZOI) — New Roadmap Release

Stipend (SPD) — IDAX Exchange Listing

Genaro Network (GNX) — Blockchain Connect Conference in San Jose

Zcash (ZEC) — Hard Fork

Odyssey (OCN) — TRON Super Representative Election

Civic (CVC) — Blockchain Connect Conference in San Jose

Qtum (QTUM) — Blockchain Connect Conference in San Jose

Storj (STORJ) — Blockchain Connect Conference in San Jose

Ripple (XRP) — Blockchain Connect Conference in San Jose

QuarkChain (QKC) — Blockchain Connect Conference in San Jose

Huobi Token (HT) — Blockchain Connect Conference in San Jose

U Network (UUU) — Blockchain Connect Conference in San Jose

aelf (ELF) — Blockchain Connect Conference in San Jose

THEKEY (TKY) — Blockchain Connect Conference in San Jose

ICON (ICX) — Blockchain Connect Conference in San Jose

ZClassic (ZCL) — Partnership Announcement

Pillar (PLR) — Blockchain Summit in London

Lisk (LSK) — Meetup in Amsterdam

Cardano (ADA) — Japan Blockchain Conference in Tokyo

SIRIN LABS Token (SRN) — Japan Blockchain Conference in Tokyo

Centrality (CENNZ) — Japan Blockchain Conference in Tokyo

Tokenomy (TEN) — Trading Competition on Coindelta Ends

ZenCash (ZEN) — Hard Fork

BitClave (CAT) — Blockchain Summit in London

MyWish (WISH) — Blockchain Summit in London

Zcash (ZEC) — Coindelta Supports ZEC Blockchain Upgrade

Endor Protocol EDR – Japan Blockchain Conference in Tokyo

EZT EZToken (EZT) — Loyalty Program

Rise (RISE) — RightBTC Exchange Listing

Categories
Crypto Market Analysis

Daily Crypto Update 26.06.2018 – Stagnation May Cause Another Low

General Overview

Market Cap: $253,329,490,428

24h Vol: $18,385,228,119

BTC Dominance: 42.0%

In the last 24 hours, evaluation of the crypto market cap has been stagnating and is on the same levels as on yesterday’s open. It went a bit higher to 258,595,000,000$ but since that high, it has been steadily declining.

Real Trade News:

The market is showing mixed colours, with an average percentage change among top 100 coins ranging from 1-3%. The biggest gainer is Theta Token which increased by 23%.

Real Trade News

In the last 24 hours, there are three news headlines that can impact the market. First by its significance is that  Tether (USDT), has issued 250 million more tokens yesterday, according to data from Omni Explorer.

While it is still unclear whether Tether is printing their coins on there own, or investors are purchasing USDT and they increased the supply in a proper 1:1 ratio, one thing is certain – more Tethers mean that Bitcoin’s price is going up.

One of the headlines that could impact the market negatively is that Hyun Song Shin, economic adviser at The Bank for International Settlements’ (BIS), said that cryptocurrencies should be treated the same as stocks and bonds, Business Times reported June 25.

“If people pay to hold the tokens for financial gain, then arguably they should be treated as a security and come under the same rigorous documentation requirements and regulation as other securities offered to investors for a return.”

And the last of the three significant headlines is that cryptocurrency with a market capitalisation of $2.7 billion, Tron (TRX),  has activated its mainnet following a migration to its independent public blockchain, according to a blog post published June 25. This could impact the price of Tron positively.

Analysis

TRX/USD

From yesterday’s opening at 0.04271$, the price of Tron has decreased by 3.84% as the price is currently sitting at 0.041$



As you can see from the hourly chart, the price action is currently in a triangle and it looks like the breakout is near. Judging by the steepness of the triangle resistance line, the breakout is going to be from the downside, which means that the fundamental news may not impact the price just yet.

Market sentiment 

Tron is in the sell zone.

Oscillators signal a sell, and moving averages signal a strong one.

Pivot points

S3 0.036658 
S2 0.039447 
S1 0.040771
P 0.042236 
R1 0.043560 
R2 0.045025 
R3 0.047814

ETH/USD

In the last 24 hours, the price of Ethereum has decreased by 1.3%, which is not significant as the price is hovering around the same levels since yesterday’s open.



As you can see from the hourly chart, the price action is in an ascending channel in which it is correcting after the last low. The price found support at the descending channels resistance (purple line) yesterday, but we are yet to see how far can the price go before another drop.

Market sentiment

Ethereum is in the sell zone.

Oscillators are on sell, and moving averages signal a strong sell.

Pivot points

S3 401.33 
S2 430.45 
S1 444.73 
P 459.57 
R1 473.85 
R2 488.69 
R3 517.81

BCH/USD

From yesterday the price of Bitcoin Cash hasn’t changed at all as the price is still hovering at around 748$.



As you can see from the hourly chart, the price is hovering at the baseline support 1, as it is consolidating after the recent low and verifying that support level.

Market sentiment 

Hourly chart technicals are the same as two prior ones – sell.

Oscillators are on sell and moving averages on a strong one.

Pivot points

S3 663.0
S2 709.2 
S1 731.0 
P 755.4 
R1 777.2 
R2 801.6 
R3 847.8

 Conclusion

Real Trade News: After the recent low, the prices have recovered a bit, but that recovery was short-lived as the prices are now stagnating and even decreasing a bit. As the low had a V shape that is common at the bottom in the markets, I was convinced that the low was the bottom for a short-term recovery. Now, a day later and after analysing the charts, I am not so sure anymore. We might see another low in the following days, so be careful not to fall into the trap of thinking the market has to do something (has to recover after a steep low)- it doesn’t have to do anything.

Categories
Crypto Market Analysis

Daily Crypto Update 25.06.2018 – Back In The Green?

The market returned to green numbers today after having touched the minimum of the year in many of the cryptos, due to the heavy drops suffered all around the crypto charts. Also, BTC prices went down to year lows, what was the trigger to drag the other cryptos down? 90 coins of the top 100 are in the green today, some with two digits, which is a good indicator for today.

General Overview

Market Cap: $252.306.359.683

24h Vol: $16.578.084.967

BTC Dominance: 41.7%

The market has lost 9 billion$ in capitalization since last Friday but positive movements are expected today as the volume is slowly increasing. Last Friday in our market update we said this; ¨ … the market will have another bearish boost before Sunday where BTC could lose its $6000 value and very likely will test the $5,700¨. The price behaved as it was estimated although its minimum reached only $ 5,774 where it found support and buying pressure.

 

News

Japan Wants to Stop Cryptocurrency Criminal Activities With Credit Evaluation
This week, after disclosing its plans to crack down on anonymous cryptocurrencies Zcash, Dash, and Monero, the government of Japan has said that major credit agencies will evaluate cryptocurrency users to prevent the utilisation of digital assets in laundering money generated from illicit operations.

Fiat Withdrawals Could Become ‘Impossible’, Warns Major Indian Cryptocurrency Exchange
As the date for India’s banking ban on the cryptocurrency sector approaches, Zebpay – one of India’s biggest exchanges – is proactively warning users that their fiat deposits could be affected.

Sun, Fun and Crypto – Bahamas’ Central Bank Set to Introduce a Digital Currency
The Bahamas has joined a small list of countries that are planning to experiment with central bank digital currencies
(CBCD).

Source: ccn.com

Jack Ma Goes for Blockchain, But Bitcoin Is “Still a Bubble”
The founder and chairman of a China’s giant Alibaba Group, one of the Chinas’ richest men, Jack Ma, has declared Bitcoin a bubble once again, just as his Ant Financial launched blockchain-based money transfers between Hong Kong and the Philippines today.

Crypto-Related Crime Might Be Top Cyberattack of 2018
According to a cybersecurity expert, crypto is where the real danger lies this year, as cyber attacks related to the nascent industry will surpass all other types.

Source: cryptonews.com

Analysis

ETH/USD

Ethereum has gained 5.42% in the last 24-H and is getting stronger while the session progresses. Ethereum buyers pushed back after the price tested $421 to send the price up to $468 where its now trading after crossing resistances of $450 and $460.


If buyers can reach $485, that would be an important level to support and then attack the $500 level. The RSI and Stochastic are pointing up and still not touching the overbought levels, there may still be a way to go upwards.

Market sentiment

4-H chart technicals signal a buy sentiment.

Oscillators are showing buy signals and pointing up.

Pivot points

R3 536.24
R2 506.78
R1 480.59
P 451.13
S1 424.95
S2 395.49
S3 369.30

LTC/USD

Litecoin price has gained 8.52% in the last 24H after touching year lows of $73.52 yesterday. The market was showing that it was going to happen and the buyers came strong sending the price over the central pivot point and now is trading at $83.64.


The price is testing the Fibonacci retracement of 38.2% but it has found strong resistance there, the next resistance is the Pivot R1 in $85.11.

Market sentiment

4-H chart technicals signal a buy sentiment.

Oscillators are showing buy signals and pointing up.

Pivot points

R3 95.34
R2 89.36 
R1 85.05 
P 79.1 
S1 74.76 
S2 68.92 
S3 64.47

BCH/USD

As like many of the cryptos, Bitcoin Cash started to recover from the hard drops over the whole week after finding support around $666. The bulls are now pushing the market, and the charts in many currencies seem very similar today.


The price is now trading at $759 in the middle of the central pivot point and R1, the indicators are showing mixed signals.

Market sentiment

4-H chart technicals show signal bullish.

Oscillators are showing mixed signals.

Pivot points

R3 905.49
R2 839.95
R1 791.86 
P 727.02 
S1 680.39 
S2 615.47
S3 567.98

Conclusion

There is a new bullish scenario today. Price and technical indicators are showing some divergences and BTC is leading the route in the charts as always. If BTC breaks the immediate resistances, we could be inside a bullish momentum that could send the prices higher and buyers could take advantage of it.

Categories
Crypto Market Analysis

Daily Crypto Update 25.06.2018 – Short-term Recovery Expected

General Overview

Live Trading Update:

Market Cap: $254,201,622,949

24h Vol: $15,258,651,571

BTC Dominance: 41.7%

In the last 24 hours, the evaluation of the cryptocurrency market capitaliSation started off at 259,367,000,000$ and shortly after that it fell to 235,331,000,000$ yesterday. This is the lowest cryptos have been since the correction has started, and the last time we saw this evaluation was in the first half of November last year. Currently, the evaluation has recovered from yesterday’s low and is sitting on the levels prior to the drop.

Live Trading Update

The market is currently in green with an average percentage of change ranging from 5-10%. Biggest gainers among top 100 coins are WaykiChain 39%, Cortex 38%, and Theta Token 26%.

News

There aren’t any significant news items that came out in the last 24 hours. Most of the headlines are analytical in nature as the cryptocurrency market experienced the recent low, followed by interviews that reassert the bullish views on cryptos over the long run.

These are some of the headlines:

Bitcoin Price Hits 2018-Low at $5,825, Where Will it Bottom Out?

Bitcoin’s Defense of $6K Raises Odds of Relief Rally

Ether Price Drops to 10-Week Low Near $400

Cardano Co-Founder: Wall Street Will Bring ‘Tens of Trillions of Dollars’ to Crypto

Blockchain CEO Says Bitcoin Adoption Will Take a Long Time, Survivors Will Win

One of the headlines that stand out and is not from this category is that China’s state-backed monthly ratings are out and according to them, EOS in number 1. The rating is called “Global Public Chain Technology Evaluation Index” and is published by the China Center for Information Industry Development (CCID) of the Ministry of Industry and Information Technology.

EOS’ top ranking is attributed to the “outstanding technical advantages in transaction confirmation efficiency, network throughput, and transaction costs” of the protocol.

While conceding the EOS Mainnet’s recent mishaps – since going live on June 15, the network has faced technical issues, and criticism for freezing some accounts – the evaluation nonetheless judges the project to be “highly active in technological innovation,” a “new generation public blockchain” that is “currently most regarded by the industry.”

Source: cointelegraph

Analysis

BTC/USD

From yesterday’s low at 5777,3$ the price of Bitcoin has recovered by 7.54% and is currently sitting at 6224$.



Looking at the hourly chart we can see that the price of Bitcoin has fallen below the 6000$ level which was a psychologically significant level as are most round numbers. This spike at around 5700$ played out yesterday just like I’ve predicted and now the price is likely going to start to recover.

Market sentiment 

Bitcoin’s hourly chart technicals signal a buy.

Oscillators are signalling a buy and moving averages are signalling a buy.

Pivot points

S3 5061.5 
S2 5556.2 
S1 5852.1 
P 6050.9
R1 6346.8 
R2 6545.6 
R3 7040.3

XRP/USD

From yesterday’s low at 0.4417$, the price of Ripple has recovered by 9% as it is currently sitting around 0.481$.



On the hourly chart, we can see that the price has fallen below the 0 Fibonacci retracement level, which means that the price fell lowest since the correction has started as this is the ending point of the prior retracement. Currently, it looks like is testing for support on the last range support and we are yet to see if it holds.

Market sentiment 

Hourly chart technicals signal a buy.

Oscillators are on buy, and moving averages signal a buy.

Pivot points

S3 0.35393 
S2 0.41192 
S1 0.44334 
P 0.46991 
R1 0.50133 
R2 0.52790
R3 0.58589

EOS/USD

From yesterday’s low at 6.96$ the price of Eos has recovered significantly as it rose by 15.3% coming to around 8$ where it is currently sitting.



On the hourly chart, we can see that the price action created a similar U shape bottom as in the case of Bitcoin and Ripple. After the recovery the price has experienced, it is currently looking for support on the levels from which the drop appeared.

Market sentiment

EOS is in the buy zone.

Oscillators are on buy, and moving averages signal a buy.

Pivot points

S3 4.7107 
S2 6.2507 
S1 7.1489 
P 7.7907 
R1 8.6889 
R2 9.3307 
R3 10.870

XMR/USD

Monero is another coin which experienced significant recovery. From yesterday’s low at 108.6$ the price has increased by 15.8% coming to 127$. Currently, the price has retraced a bit and is now sitting at 124.7$.



Unlike other cryptos, Monero didn’t just spike down to its lows but instead retested those levels two more times after the first spike down. The price is now above the levels from which it previously dropped, looking for support, as you can see from the chart.

Market sentiment

Hourly chart technicals signal a buy.

Oscillators are on neutral and moving averages signal a buy.

Pivot points

S3 80.973 
S2 99.403 
S1 110.097
P 117.833
R1 128.527 
R2 136.263 
R3 154.693

 Conclusion

Live Trading Update: As the prices of all major cryptos fell to their lowest since the correction has started, and in a way, retested the lowest cryptos have ever been, I am now looking for signs of a short-term trend reversal that will serve as a retest of prior highs. Spikes that we’ve seen look like the bottoms as they are V-shaped and were short lasted which is how markets usually bottom out. As those spikes could be interpreted as a missed opportunity by buyers, fear of missing out on the bottom can push the prices higher.

Categories
Crypto Market Analysis

Today´s Crypto Events 25.6.2018

You can find here all the news about the upcoming hard fork, releases, exchange listings,  updates, conferences, new launches, etc. We gather the most relevant events and conferences for you

You can find here all the news about the upcoming hard fork, releases, exchange listings,  updates, conferences, new launches, etc. We gather the most relevant events and conferences for you

You can find here all the news about the upcoming hard fork, releases, exchange listings,  updates, conferences, new launches, etc. We gather the most relevant events and conferences for you to pick from.

Today´s Events 25/6/2018

Emerald Crypto (EMD) — Reward Halving

Cindicator (CND) — WEBIT.Festival Europe in Sofia

Nano (NANO) — Weekly Development Update

DigitalNote (XDN) — Hard Fork

Divi (DIVX) — Services and Products Release

Open Platform (OPEN) — Token Swap Snapshot

The Abyss (ABYSS) — Development Update

Leadcoin (LDC) — Open-Source Code Release on GitHub

Pakcoin (PAK) — Merchants Payment System Launch

Primas (PST) — Android Beta Test

TRON (TRX) — Token Burning

Cobinhood (COB) — WEBIT.Festival Europe in Sofia

Ardor (ARDR) — WEBIT.Festival Europe in Sofia

United Traders Token (UTT) — World Blockchain Summit in Frankfurt

Credits (CS) — World Blockchain Summit in Frankfurt





























Categories 


Crypto Market Analysis 




Today´s Events 23/6/2018


















You can find here all the news about the upcoming hard fork, releases, exchange listings,  updates, conferences, new launches, etc. We gather the most relevant events and conferences for you






You can find here all the news about the upcoming hard fork, releases, exchange listings,  updates, conferences, new launches, etc. We gather the most relevant events and conferences for you












You can find here all the news about the upcoming hard fork, releases, exchange listings,  updates, conferences, new launches, etc. We gather the most relevant events and conferences for you to pick from.




Today´s Events 23/6/2018









Red Pulse (RPX) — AMA on YouTube







Sharpe Capital (SHP) — Qryptos Exchange Listing







MaidSafeCoin (MAID) — Meetup in Melbourne

































Categories 


Crypto Market Analysis 




Daily Crypto Update 22.06.2018 – Big Bear Field


















The market is completely red with losses of double digits in many currencies in a drop that was coming due to the pressure that the market has had all week.






The market is completely red with losses of double digits in many currencies in a drop that was coming due to the pressure that the market has had all week.












The market is completely red with losses of double digits in many currencies in a drop that was coming due to the pressure that the market has had all week. The market is showing its volatility again and I see there are some effects (not proven) according to news from Japan. The Financial Services Agency (Regulator in the country) has ordered six exchanges to improve their businesses and to improve their anti-money laundering measures. Some of them stopped adding new clients and started to review the identities of existing account holders. The pressure continues in the crypto field and we will surely see new minimums in many of the cryptos before seeing a reversal.




General Overview




Market Cap: $261.006.460.133


24h Vol: $14.560.479.309


BTC Dominance: 40.7%


The Market Capitalization dropped 20B in just 24 hours which shows the power of sellers at the moment, I think the market will have another bearish boost before Sunday where BTC could lose its $6000 value and very probably will test the $5,700






News




Japan Slaps 6 Licensed Cryptocurrency Exchanges with Business Improvement Orders

Japan’s financial regulator has targeted six licensed cryptocurrency exchanges to issue business improvement orders, ramping up its scrutiny of the

sector.


Breaking: Mt. Gox Case Moved to Civil Rehabilitation, Creditors May Be Paid in Crypto

Creditors holding bitcoins at infamous cryptocurrency exchange Mt. Gox may recover their funds, after all, a court has ruled.


NANO Issues Alert on Android App Vulnerability, Urges Users to Move Funds

NANO, which recently rebranded from RaiBlocks in January 2018, has issued a statement alerting users about a vulnerability in their android wallet, urging them to move their funds to a new wallet. This applies to anyone who generated a wallet seed using the NANO android wallet, which was released just a few hours ago.


Japan’s Biggest Cryptocurrency Exchange Suspend New Accounts amid Stricter Regulation

Merely three days after the Japanese government and local financial authorities requested cryptocurrency exchanges improve their infrastructures, bitFlyer, the country’s biggest cryptocurrency exchange, has suspended the registration of new accounts to overhaul its Anti-Money Laundering (AML) and Know Your Customer (KYC) system.


Source: ccn.com




Analysis




XRP/USD












XRP has broken all the daily pivots and also broke the level of $0.50 to the downside and is trading at $0.49 cents, the pair has lost more than 7% in the last 24H and is sitting now at $0.4929. The next support for the price is $0.4803 which I think can be reached in the next hours.



















Market sentiment


4-H chart technicals signal a sell sentiment.


Oscillators are showing sell signals and pointing down.




 Pivot points


R3 0.5655
R2 0.5575
R1 0.5459
P 0.5379
S1 0.5263
S2 0.5183
S3 0.5067




LTC/USD


Litecoin price comes under heavy selling pressure as are all the currencies in the charts. The price has dropped almost 12% in the last 24H and it is at the lowest levels seen since 7th December 2017, now the price is sitting at $85.03 and the immediate support is $82.69.









Market sentiment


4-Hourly chart technicals signal bearish.


Oscillators are showing sell signals and pointing down.




 Pivot points


R3 102.19
R2 100.70 
R1 98.71 
P 97.02 
S1 95.20 
S2 93.80 
S3 91.84




EOS/USD


EOS price dropped considerably during the trading session and reached reach a 2-month low of $8.20 loosing over 15.71% in the last 24H. The RSI and Stochastic indicators are showing oversold and pointing down, the bear’s strength is completely high and the negative hype can continue during the weekend for the pair.









Market sentiment


4-Hourly chart technicals signal bearish.


Oscillators are showing sell signals and pointing down.




 Pivot points


R3 11.48
R2 11.17 
R1 10.78 
P 10.47 
S1 10.09 
S2 9.78 
S3 9.38




 Conclusion




Many of the major cryptocurrencies have contributed with their losses to the market drop of around $18 billion in the past 24 hours, it seems to be a short-term decline but this significant momentum could continue if the Bitcoin price manages to pass the important level of $ 6,000. You will see the drop down all weekend until we see a recovery.



























Categories 


Crypto Market Analysis 




Daily Crypto Update 22.06.2018 – Flash Crash


















General Overview


Market Cap: $$267,957,152,299


24h Vol: $12,899,681,614


BTC Dominance: 40.6%


In the last 24 hours, the crypto market has crashed from 291






General Overview


Market Cap: $$267,957,152,299


24h Vol: $12,899,681,614


BTC Dominance: 40.6%


In the last 24 hours, the crypto market has crashed from 291














General Overview




Market Cap: $$267,957,152,299


24h Vol: $12,899,681,614


BTC Dominance: 40.6%


In the last 24 hours, the crypto market has crashed from 291,883,000,000$ on yesterday’s high to below $270B. This crash was expected as this was my conclusion from the daily update two days ago.


The artificial spike we have seen on Monday didn’t trigger buying, and there’s not a single sign of a potential trend reversal. The prices look unstable and the selling may be very steep as a consequence of the spike up we have seen. As soon as the market participants realise there’s no trend reversal coming, sellers will start selling and there will be no buyers which will result in a significant price drop in a short time period.




The market is currently in red with an average percentage of change ranging from 6-10%.




News




There isn’t any significant negative news that is impacting the market currently. Top stories that came out in the last 24 hours are those regarding major players showing acceptance toward blockchain technology and cryptocurrencies which is positive in sentiment.


Enigma will partner with Intel on privacy research as it prepares to launch its blockchain testnet, the two companies confirmed June 20, as reported by cointelegraph


Enigma said the collaboration would focus on “research and development efforts to advance the development of privacy-preserving computation technologies.”


Robinhood, which in February began allowing zero-fee cryptocurrency trading through its Robinhood Crypto tool, is currently in “constructive” talks with the U.S. Office of the Comptroller of the Currency (OCC) to position itself as a banking services provider, Bloomberg reported.


Bloomberg Terminal, a paid financial data monitoring service, will now list crypto exchange Huobi’s Cryptocurrency Index, according to a press release shared with Cointelegraph today, June 21.


Bloomberg Terminal will also list prices for nine crypto trading pairs, denominated in Tether (USDT), including Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH), Ethereum Classic (ETC), Ripple (XRP), Dash, EOS, and ZCash.


Stanford has created the Center for Blockchain Research, supported in part by the Ethereum Foundation, Stanford Engineering’s website posted yesterday, June 20.


The Federal Reserve Bank of St. Louis will now be tracking the prices of four cryptocurrencies on their research database, according to a June 19 post on the bank’s website.


The database, called the Federal Reserve Economic Data (FRED), will now include the prices of Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC) from as early as 2014 to the present. The prices will be updated daily with data obtained from U.S.-based cryptocurrency exchange and wallet Coinbase.


As you can see, the crash that we are currently seeing doesn’t have any fundamental reason, it is only price action based much like it always is.




Analysis




BTC/USD


From yesterday’s open at 6768$ until the current low, the price of Bitcoin has decreased by 6.84% coming to 6293$. Since that low which happened an hour ago, the price has recovered a bit which can be seen from the chart below.









The price found some temporary support at the prior low levels of the current range, but that support isn’t close enough to stop the momentum behind the current down move, which is why I am expecting this crash to continue to at least the 6000$ level.




Market sentiment


Bitcoin is in the sell zone, as indicated by hourly chart technicals


Oscillators are on neutral and moving averages signal a strong sell.




Pivot points


S3 6283.1 
S2 6508.8 
S1 6618.3
P 6727.8 
R1 6776.2 
R2 6837.3 
R3 6946.8




ETH/USD


The price of Ethereum has decreased by 10.39% from 543$ on yesterday’s opening, to 490$ where it’s currently.









The price found temporary support on the range support line 2 but has broken 0.236 Fibonacci level and the range support line. As in the case of Bitcoin, these levels can’t and won’t hold the momentum behind the move.




Market sentiment 


Hourly chart technicals signal a sell.


Oscillators are on neutral while moving averages signal a strong sell.




Pivot points


S3 483.21 
S2 507.08 
S1 516.59 
P 530.95 
R1 540.46 
R2 554.82 
R3 578.69




XMR/USD


The price of Monero has decreased by 6.57%, coming from 123.550$ to 115.225$.









The price has broken out off of the triangle and found some temporary support on the prior low levels. The price is going to struggle to stay above these levels, but eventually, it will drop down further, and the next level strong enough to hold the drop is at around 100$.




Market sentiment 


Monero’s hourly chart technicals signal a strong sell.


Oscillators are signalling a sell and moving averages a strong one.




Pivot points


S3 115.613 
S2 119.283 
S1 121.387 
P 122.953 
R1 125.057 
R2 126.623 
R3 130.293




Conclusion




This crash was expected and in fact, it’s way overdue. I have stated in my weekly update that I am expecting a retest of prior lows that were the lows in this prolonged correction before we can see a short-term trend reversal. That would in the case of Bitcoin be around 6000$ and I think that this crash is finally going to do exactly that – retest the ultimate lows, which is why I am expecting more red to come today and especially over the weekend. Maybe on Sunday, we will see the selloff end, and from Monday that trend reversal to retest the recent highs, before capitulation phase can happen.



























Categories 


Crypto Market Analysis 




Today´s Crypto Events 22.6.2018















You can find here all the news about the upcoming hard fork, releases, exchange listings,  updates, conferences, new launches, etc. We gather the most relevant events and conferences for you to pick from.




Today´s Events 21/6/2018




 







AdHive (ADH) — Weekly Q&A on Telegram

Universa (UTNP) — UTN Distribution





Pylon Network (PYLNT) — RESCoop International Conference in Milan

Groestlcoin (GRS) — Development Release





Soma (SCT) — Roadmap Release

Bluzelle (BLZ) — Meetup in Kuala Lumpur





Nxt (NXT) — MTR Airdrop to NXT Holders

NAGA (NGC) — Q&A Session and WebTrader Release





Chainium (CHX) — AMA on YouTube

Nebula AI (NBAI) — Ama with Founder





PIVX (PIVX) — BiteBTC Exchange Listing








































 


 


 


 


 


 


 


 


 


 


 



























Categories 


Crypto Market Analysis 




Daily Crypto Update 21.06.2018 – Permanent Indecision















The market is moving sideways today and there is not a real direction we can say it is going in right now. Most of the cryptos in the market have a lot of barriers to break in order to consolidate prices. Only 27 of the top 100 cryptos appears in green which is showing us that we are more likely to see a move down today.




 General Overview




Market Cap: $286.905.409.179


24h Vol: $11.907.725.991


BTC Dominance: 40.1%






News




Korean Government Details Regulatory Plans After Multiple Crypto Exchange Hacks

Following multiple hack reports, the South Korean government explains how it will strengthen the regulatory framework for cryptocurrency exchanges. A bill has already been submitted which imposes multiple new obligations on crypto exchanges.


Source: bitcoin.com


US Congressional Members Ordered to Disclose Crypto Holdings

The House Ethics Committee has informed all US Congress members that they must disclose any investment worth more than $1,000 as of June, 18


Crypto Mining Mogul Hits the Big-time with Portable Mining Containers

Serial crypto entrepreneur Valery Vavilov of Bitfury has struck gold again with his latest venture by solving two of the main hurdles in mining cryptocurrency with some big black boxes.


Litecoin Futures are a Go on UK Crypto Exchange

Litecoin (LTC) derivatives are a go in the UK. Trading platform Crypto Facilities announced that as of Friday, June 22, their new dollar-denominated service will allow investors to trade in futures contracts which have Litecoin as the underpinning collateral, with weekly, monthly and quarterly maturities.


Source: newsbtc.com




Analysis




XRP/USD


The price of XRP has lost 1.14% in the last 24 hours and is trading above $0.53 after having rebounded in the EMA-50 in this 4 H chart. The pair is bearish in the last hours since the sellers have pressed hard and the attempts to exceed $0.54 have been unsuccessful. The price could continue to fall and reach $0.5286 (61.8% Fibonacci).









Market sentiment


4-H chart technicals signal a sell sentiment.


Oscillators are showing sell signals and pointing down.




Pivot points


R3 0.5809
R2 0.5653
R1 0.5525
P 0.5375
S1 0.5244
S2 0.5093
S3 0.4962




LTC/USD


Litecoin hasn’t been able to recover the $100 level and has been repeatedly bouncing in the EMA-50. The price will have to beat several lines in order to go for the $100 again, such as $97, very close to the Central Pivot Point. If the $100 level is achieved the bulls would have a good opportunity to look for higher levels such as $107 and then $110.











The next strong support is S1 Pivot Point in $95.93. Below that, there are no more barriers until the S2 Pivot at $93.96.




Market sentiment


4-Hourly chart technicals signal bearish.


Oscillators are showing sell signals and pointing down.




 Pivot points


R3 102.87
R2 100.91 
R1 99.37 
P 97.44 
S1 95.90 
S2 93.97 
S3 92.41




BTC/USD


BTC has lost 0.85% in the last 24 hours and is moving right now at $6,717, trying to break the Central Pivot Point at $6.710. The buyers are trying with no success to get the $6,800 but this is a very important number because a break above this can send the price towards the $7,000. We can see here in this 1H chart a contracting triangle formed with support at $6,684 and resistance close $6,770.







The price is approaching both break lines of the triangle and I think the price will break below $6,700 to look for the S1 Pivot at $6.606.




Market sentiment


1-Hourly chart technicals signal bullish.


Oscillators are showing mixed signals.




 Pivot points


R3 7.124
R2 6.970 
R1 6.865 
P 6.710 
S1 6.605 
S2 6.451 
S3 6.346




Conclusion 




The market continues indecisive but with a more downward trend in the pairs analysed today. There is a weekend coming where we must be very attentive to maybe strong movements, mainly bearish. However, many investors will be hoping for an upward trajectory that has not been seen in months.



























Categories 


Crypto Market Analysis 




Daily Crypto Update 21.06.2018 – More Sideways Movement

















General Overview




Market Cap: $288,490,071,943


24h Vol: $12,063,316,263


BTC Dominance: 39.9%


In the last 24 hours, the evaluation of the cryptocurrency market capitalisation has experienced a lot of sideways movement as you can see from the chart below.




The market is mixed in colour but the dominant one is green, with a small average percentage change.




News




In the midst of the bear market, negative news tends to echo on. That is the case with the Bithump hack that happened two days ago, and it is still reported and followed up on as this is the world’s sixth biggest exchange based on volume. As the market is showing sideways movement and indecision, many headlines are trying to reassert the usefulness of the blockchain tech trying to regain the confidence in the market.


In an interview with CNBC yesterday, Charlie Lee, Litecoin (LTC) founder stated that the recent hack of leading crypto exchange Bithumb “doesn’t really change the fundamentals of Bitcoin”. Attempts to change the focus from price to technology doesn’t really do much for the current sentiment as participants are still focused on the losses that the market has experienced.


Another relevant headline is that Tether, cryptocurrency supposedly back in a 1:1 ratio by US dollars has hired a law firm to conduct a random check on their bank balance, and is reported by Bloomberg that Freeh Sporkin & Sullivan LLP has confirmed that the amount of US dollars matches and exceeds the current Tether circulating supply. This was not an official audit, and we are still yet to see if everything checks alright with Tether, but this may calm some concerns made in the past regarding the Tether controversy.


Goldman Sachs is exploring cryptocurrency trading derivatives, Goldman Sachs Chief Operating Officer (COO) said in an interview with Bloomberg June 20. This is normal as the demand of their clients is pushing them to provide those services.


“We are clearing some futures around Bitcoin, talking about doing some other activities there, but it’s going very cautiously. We’re listening to our clients and trying to help our clients as they are exploring those things too.”


Similar to that, Toronto Stock Exchange (TSX) will list a new blockchain exchange traded fund (ETF) starting Thursday, Bloomberg reported June 20. The Horizons Blockchain Technology and Hardware Index ETF fund will join other ETFs from Harvest Portfolio Group Inc. and Evolve Funds Group Inc.


The U.S. Securities and Exchange Commission (SEC) has received an additional emergency court order to freeze the assets of Dominic Lacroix, owner of PlexCorps, in an ongoing enforcement action, Crowdfund Insider reported June 20. The SEC had previously sued Lacroix for securities fraud and received an emergency asset freeze order in December 2017. The order was unsealed June 18.


Source: cointelegraph




Analysis




BTC/USD


The price of Bitcoin is on the same level as on yesterday’s opening which is around 6735$. Yesterday the price fell to 6620$ quickly and recovered even quicker as you can see from the chart below.









Bitcoin’s price is yet again the middle of the range on the resistance level struggling to stay there. As price action looks unstable I am soon expecting the price to retest either the range resistance or range support which would be more likely.




Market sentiment 


Hourly chart technicals signal a buy.


Oscillators are on neutral an moving averages signal a buy.




Pivot points


S3 6185.1 
S2 6450.1 
S1 6605.3 
P 6715.1 
R1 6870.3 
R2 6980.1
R3 7245.1




ETH/USD


From yesterday’s open at 517$ the price of Ethereum has increased by 3.35% coming to 536.12$ where it is currently sitting.









Price action has formed an ascending wedge of some kind and the recent low retested its support line. The price is currently sitting on the resistance levels of the current range, and if the price gets repealed from it I would expect a breakout from the wedge on the downside.




Market sentiment 


Ethereum’s hourly chart technicals signal a buy.


Oscillators are on buy and moving averages signal a buy.




Pivot points


S3 480.62 
S2 506.15 
S1 521.21 
P 531.68 
R1 546.74
R2 557.21 
R3 582.74




NEO/USD


From yesterday’s opening at 38.75$, the price of Neo has decreased slightly. The price is now sitting at 38.17$ which is just 1.46% lower than yesterday. The price went above the open but has dropped quickly as you can see from the chart below.









On the hourly chart, we can see that the price is interacting with the minor support and is retesting it. If the support holds I would expect the price to get back to the levels of the support area which now serves as strong resistance. If the current minor support gets broken I would look out for a downfall to the 33.8$ level.




Market sentiment


Neo is in the sell zone.


Oscillators are on buy, and moving averages signal a strong sell.




Pivot points


S3 33.95
S2 36.37 
S1 37.67 
P 38.79 
R1 40.09 
R2 41.21 
R3 43.63





ZRX/USD


The price of 0x is sitting at the levels of yesterday’s open which is at 0.8747$. It experienced a lot of choppy, sideways action so it went above and below the opening before retracing back to the same levels, as you can see from the chart below.









The price is now on the minor support, similar to Neo and if we see the level respected, the price is going to go to the level on 14th high which is at 0.966$ where it would find first resistance. If the levels break I would expect a breakout from this current consolidating triangle and a lower low.




Market sentiment 


0x is in the sell zone.


Oscillators are on neutral and moving averages signal a strong sell.




Pivot points


S3 0.7316 
S2 0.8001 
S1 0.8380 
P 0.8686 
R1 0.9065 
R2 0.9371
R3 1.0056 






Conclusion




From the coins analyzed in this report we can see that the price action looks unstable as all are sitting and waiting on some support/resistance levels. With all the sideways movement that the market experienced in the last couple of days, maybe today we will see some sign as to where the market is going. I think that the prices are going to plummet down to their next support as fear uncertainty and doubt are ruling the market sentiment currently, but this stagnation may also trigger some buying as buyers may interpret it as the bottom.



























Categories 


Crypto Market Analysis 




Today´s Crypto Events 21.6.2018















This is the Cryptocurrency events calendar. All the news about the upcoming hard fork, releases, exchange listings,  updates, conferences, new launches, etc.




Today´s Events 21/6/2018




Cryptocurrencies (CRYPTO) — Dogecon 2018


DigiByte (DGB) — Hard Fork


TRON (TRX) — Migration from ERC20


TRON (TRX) — Bittrex Support – Bitfinex Support – Binance Support – Gate.io Support


Effect.AI (EFX) — Trading Competition


Sprouts (SPRTS) — Swap Sprouts to Auxilium


Pundi X (NPXS) — Binance Listing


Unibright (UBT) — Networking Event


NamoCoin (NAMO) — Nаmоѕtісk


SunCoin Community Currency (SUN) — Masternode Giveaway


Emerald Crypto (EMD) — Block Reward Halving


Endor Protocol (EDR) — Important News Release


AdCoin (ACC) — AdCoin.Click 2.0 Release


PolicyPal Network (PAL) — Blockchain for Finance


SpankChain (SPANK) — Community AMA


Apex (CPX) — Apex Airdrop




 



























Categories 


Crypto Market Analysis 




Daily Crypto Update 20.06.2018 – Red Field


















The market today is again in red with 92 of the top 100 in the negative territory, brief bullish signals are not enough to put the currencies in green and






The market today is again in red with 92 of the top 100 in the negative territory, brief bullish signals are not enough to put the currencies in green and












The market today is again in red with 92 of the top 100 in the negative territory, brief bullish signals are not enough to put the currencies in green and a successful attack on South Korea’s largest crypto exchange Bithumb can send the prices down again during this week.




General Overview




Market Cap: $283.698.523.519


24h Vol: $12.865.375.764


BTC Dominance: 40.0%


marketCap20.06




Cryptocurrency Market News




3 Hacks in 12 Months: The Reasons Behind Crypto Exchange Bithumb’s Failings

South Korea’s biggest cryptocurrency exchange Bithumb, which has been the most trusted digital asset trading platform within the country alongside UPbit, Coinone, and Korbit over the past few years, has been hacked for the third time in 12 months.


Australia’s Tax Office is Using a ‘100-Point’ Check System to Chase Crypto Traders

The Australian Tax Office (ATO) has cast a wide net to investigate crypto investors after classifying cryptocurrencies like bitcoin as ‘assets’, liable for capital gains taxes.


Siacoin Mining Malware Generates Nearly $1 Million in China-based Attack, 16 Arrested

Cryptjacking is fast becoming a popular way for cyber crooks to make money. For instance, around 5% of the cryptocurrency Monero currently in circulation is estimated to have been mined fraudulently, according to security firm Palo Alto Networks.


Retail Adoption of Crypto Would “Bring the Internet to a Halt” – BIS Report

The Bank of International Settlements (BIS) has leased a chapter from its forthcoming annual report that delivers a critical appraisal of bitcoin and cryptocurrency.


Source: ccn.com




Analysis




IOTA/USD


IOTA is trading positive in the last hours, very close to the critical price of $ 1.00 and has not been affected by the Bithumb hack that is considered as a bearish factor.







The next resistance for the pair is $1.21 and then $1.35 and $1.38 (R1 Pivot). On the downside, supports are in $1.00 S1 Pivot and psychological level, a breakout here could send the price to $0.94.




Market sentiment


4-H chart technicals signal a sell sentiment.


Oscillators are showing buy signals and pointing up.




Pivot points


R3 1.72
R2 1.59
R1 1.38
P 1.25
S1 1.03
S2 0.90
S3 0.69




ADA/USD


ADA has lost 1.17% in the last 24 hours and continues to move within a narrow range in the last six days, the support at $0.1567 is still tested but the rebounds are permanent, the EMA-50 is still approaching the support and it is very likely that the price will break down.











Market sentiment


4-Hourly chart technicals signal neutral.




Pivot points


R3 0.2192
R2 0.2005 
R1 0.1801 
P 0.1614 
S1 0.1413 
S2 0.1226 
S3 0.1021




XRP/USD


XRP has lost 0.55% in the last 24 hours and has not been able to move above the resistance at $0.5620, and the EMA-50 is also bouncing the price in the absence of strong buyers.









Market sentiment


4-Hourly chart technicals signal neutral.

Oscillators are pointing up.




Pivot points


R3 0.6805
R2 0.2005 
R1 0.5831 
P 0.5431 
S1 0.4858 
S2 0.4469 
S3 0.3896




Conclusion




Cryptocurrency Market News: The market is in a complete red dot today, the buyers are absent and nervous because they do not want to involve themselves in risks facing the possibility of new drops, I think the market will continue like this for the rest of the week without many bullish movements and in the control of the sellers.



























Categories 


Crypto Market Analysis 




Daily Crypto Update 20.06.2018 – Another Crash Coming

















General Overview




Market Cap: $284,566,156,804


24h Vol: $14,268,669,088


BTC Dominance: 40.0%


In the last 24 hours, cryptocurrency market capitalisation has decreased from 294,184,000,000$ which was the yesterday’s high to around 284 billion dollars where it is currently sitting in stagnation.


TThe market is mostly in red, but we can see a mix in colour, with a nonsignificant average percentage change.




News




Top stores that came out in the last 24 hours are mostly negative in sentiment which may impact the market negatively. One of the most significant headlines is the Bithumb exchange hack.




Hackers have stolen cryptocurrencies worth $30 million from South Korea’s leading virtual currency exchange Bithumb, Cointelegraph Japan reported June 19. As a result all deposits and payments have been temporarily suspended.


Another significant headline that can impact the market negatively is a statement made by CBOE Global Markets President Chris Concannon who said that the initial coin offering (ICO) market could soon face a two-fold regulatory “reckoning,” Business Insider reports June 19.


“The reckoning will come in two waves. First, the SEC will go after ICO market participants. Then, class-action lawsuits against the teams behind ICO projects will surge.”


A lot of negativity is circling around EOS at the moment as EOS blocks producer froze users funds. Seven accounts have been compromised by the registration process through phishing scams, and in an attempt to protect user funds, EOS block producer has declined to process those transactions.


EOS Block Producers discussed the decision to freeze the accounts over a two hour conference call, ultimately deciding that since the EOSIO constitution has not yet been ratified, they could ignore the EOS Core Arbitration Forum’s (ECAF) decision not to freeze the funds.


This created a twitter bashing from some of the most respectful and credible figures in the crypto world, like the pioneer Nick Szabo and Charlie Shrem.




With so many problems EOS has faced in the midst of their launch – vulnerability fix, launch freeze, and now this centralised face that they have shown, investors may lose confidence in the project which may impact the price negatively.




Analysis




BTC/USD


From yesterday’s open at 6733$, the price of Bitcoin has decreased by 1.67% and is now sitting at 6622$.







Looking at the hourly chart, we can see that the price went to the range resistance line where it was quickly repealed by it. After that happened, the price went below the range support, back inside the range and is currently retesting that same support line. It looks like its going to be broken again and the next level I would expect the price to interact with is the 0 Fibonacci retracement level which would be in the terms of price around 6500$.




Market sentiment


Bitcoin is in the sell zone.


Oscillators are on neutral and moving averages signal a sell.




Pivot points


S3 6359.8 
S2 6553.0 
S1 6644.3 
P 6746.2 
R1 6837.5 
R2 6939.4 
R3 7132.6




NEO/USD


The price of Neo has fallen by 8.28% from yesterday’s high at 41.46$ to where it is currently sitting at 38$.







On the hourly chart, we can see that the price went into the support zone, which now serves as resistance and quickly fell back from those levels to the levels of the minor support, where it is retesting it. I don’t believe that these levels will serve as resistance as they haven’t been that strong and respected in the past.




Market sentiment 


Neo is in the sell zone.


Oscillators are on neutral while moving averages are signalling a strong sell.




Pivot points


S3 34.60
S2 37.32 
S1 38.64 
P 40.05 
R1 41.36 
R2 42.77 
R3 45.49




LTC/USD


The price of Litecoin has decreased by 5.4% from yesterday’s spike at 101.68$ to 96.133$ where it is currently sitting.







Litecoin’s hourly chart is showing similarities with that of Neo, as we see a spike up after which the price fell down below the minor support area, went above it and is now sitting right on it testing it for support.




Market sentiment 


Litecoin hourly chart technicals match the Neo’s much like the chart patterns.


Litecoin is in the sell zone with oscillators on neutral and moving averages signalling a strong sell.




Pivot points


S3 89.600 
S2 94.348 
S1 96.551 
P 99.096 
R1 101.299 
R2 103.844 
R3 108.592





Conclusion




After going through the news and looking at the chart I conclude that we are in for more red today. The artificial spike we have seen on Monday didn’t trigger buying, and there’s not a single sign of a potential trend reversal. The prices look unstable and the selling may be very steep as a consequence of the spike up we have seen. As soon as the market participants realise there’s no trend reversal coming, sellers will start selling and there will be no buyers which will result in a significant price drop in a short time period.



























Categories 


Crypto Market Analysis 




Why is Bitcoin in the Bear Market?


















 Why is bitcoin in the bear market?

Many people wonder what happened to Bitcoin after the spike during late last year. How did it go from the highs of






 Why is bitcoin in the bear market?

Many people wonder what happened to Bitcoin after the spike during late last year. How did it go from the highs of












 Why is bitcoin in the bear market?


Many people wonder what happened to Bitcoin after the spike during late last year. How did it go from the highs of up to $20,000 to now where the price is hovering around $6000 to $7000 levels? What affected it? Many tried to explain why this happened. Neither the rise or the fall of Bitcoin (and the whole cryptocurrency world for that matter) was purely organic. Many things influenced the markets, both upwards and downwards. However, one factor that people mostly forget is in play here.


 


What actually happened to Bitcoin?


Bitcoin has been in a bear market ever since the start of 2018. People usually blame only one thing for the rise or the fall of the Crypto markets, but that’s simply not true. That is systemically incorrect because there were many factors contributing to bringing Bitcoin to the current situation.


The Rise of Bitcoin


The Rise of Bitcoin


Cryptos are a fast moving asset. However, the parabolic rise Bitcoin (and the whole crypto market for that matter) had was more speculation than real adoption. So what could possibly be the reason for this?


Besides the organic bubble creation cycle which happens when people ignore the true value of the asset and invest simply because of the potential to earn money, there is one far more serious reason.That would be printing of the USDT (Tether).


 


Tether is a cryptocurrency pegged to the US dollar value. It’s claimed that for every Tether created, there is one US dollar “sitting” in the bank in order to make tether truly stable. But the recent news and happenings are telling us a different story. It was clear that something was wrong after Tether (which is connected to Bitfinex exchange) called off the auditors. People started to be distrustful, and many started to avoid using Tether cryptocurrency.


The timing of printing tens (even hundreds) of millions of Tether match the times of Bitcoin spikes in volume and price. This amount could clearly manipulate the market and change the minds of investors. The new “gold fever” started as the spikes in price piled up, and the bubble was created, completely inorganically and without a need or a purpose.


 


The Fall of Bitcoin


The Fall of Bitcoin


Many factors affected Bitcoins’ moves in the past couple of months, and they include Bitcoin Futures (both CBOE and CME), Mt.Gox trustee selling Bitcoins in a price-changing fashion, price spoofing… Here are the possible reasons of why the price went down:


    

  1. 

    Bitcoin Futures Market
    

    2. 



After CME and CBOE started offering Bitcoin futures, some clear patterns were appearing on the charts right near the end of each contract. The price moved down quite a bit almost every single time. On top of that, people reacted to the creation of a Bitcoin futures index, as it meant that CFTC (US commodity futures trading commission) had its hands in Bitcoin and is trying to centralise it.


After the first contract came due, market sentiment started to become somewhat rationalised. January was the time that CME requested trading data from four cryptocurrency exchanges, but they did not want to provide such data, with the explanation that the request was too intrusive. Ultimately, the exchanges did handle the data, but only after CME agreed to shorten the time request for the data from one day to a few hours. Surprisingly, before CME requested the data the regular way, they tried to do it by using a third-party company, which ran its own trading platform. The exchanges said no.


 


Bitcoin Futures market


 


    

  1. 

     Mt. Gox trustee 
    

    2. 



Another possible reason and something that surely affected Bitcoin on its way down was Mt. Gox trustee selling big amounts of Bitcoins on exchanges without much care (or with intention of manipulating the price) instead of using OTC trading with individuals, because that would not affect the price.


Mt. Gox is the largest crypto exchange, which was based in Tokyo, Japan. It was created in July 2010, and by 2014 it was handling over 70% of all Bitcoin transactions worldwide. In February of 2014, Mt. Gox filed for bankruptcy and shut down the business. The hackers that caused them to file for bankruptcy stole 850,000 Bitcoins. Over the years, 200,000 Bitcoin were found and restored, and are now handled by the Mt. Gox trustee. His job is to sell the remaining Bitcoin in order to settle the claims of creditors.


 


Mt. Gox trustee


 


    

  1. 

    Spoofing
    

    2. 



Another way of tipping the price up or down is by controlling the sentiment of the market. Influential traders (ones with a lot of capital) can do this by placing large buy or sell orders just above or below the selling price. That way, the market sentiment changes to another direction once they see a “wave of orders”. But, has it contributed to Bitcoin going up and down?


The story can be told both ways. Yes, spoofing has happened, and it will happen in the future. However, it has not been done to that extent that it changes the whole trend of the market, and for such a long time. That would be nearly impossible.


    

  1. 

    Bitmex and Binance exchanges
    

    2. 



Bitmex is the biggest trading “exchange” of cryptocurrencies and its derivates. Traders can long or short Bitcoin or its derivates, with up to 100x leverage. Binance, on the other hand, is the biggest cryptocurrency exchange (in the purest form) by volume even though Bitmex technically has higher volume. It would all be fine and dandy with these two until we heard of a serious problem that might affect the market. They both claimed that they trade AGAINST THEIR USERS!


Both Bitmex and Binance have trading desks which consist of traders that constantly try to make money in various ways.


Bitmex users are allowed using margin (leverage) trading, which means that people’s capital is more exposed and that people can lose their capital faster. They ordered their trading desks to place buy and sell orders in order to move the price in both directions for just a fraction, in order to trigger stop losses. Binance traders also have their way of making additional money for themselves.


Even though both Bitmex and Binance are trading against their users, it did not and it can not affect the price in such a way that it changes the direction of the trend for such a long time.


 


Bitcoin Bear Market


 


    

  1. 

    Adoption versus speculation, expectations versus reality
    

    2. 



Market sentiment is exactly how it is because of the adoption rates and the speculative positions. Investors bought Bitcoin and altcoins not because of their value and their ability to change the world, but rather because of how much money they can make in a day, month, year. This kind of action has created a “cult” of crypto-lovers that did not agree with any valid point against crypto at this moment in time.


Truth being told, cryptocurrencies are not ready for the world yet (and the world is not ready for cryptos to some extent)… They have to undergo many changes, fixes and optimisations in order to actually contribute to how the world works. As far as use case goes, not many cryptocurrencies have it, except for being a beacon of hope for people who value decentralisation. After the crypto-market crashed, people who were speculators ran away from cryptos, while other got their eyes opened in a very painful way. The price of Bitcoin will stop falling when the expectations level with reality.


 


Conclusion


Market manipulation has happened in every single tradable asset market in the world, cryptocurrencies included. The cryptocurrency market is so young that market manipulations are a bit more prominent, and the average investor is much younger and has less knowledge, and that’s why the market moves faster and sharper. If we take into consideration the invested money versus current valuation of the field (real invested money versus current market cap) we can argue that cryptocurrencies are a very fragile market and one susceptible to manipulation. Also, we are safe to say that USDT was responsible for close to half of the Bitcoins upwards moves in the past year.


People are often asking when the market will get to its previous highs. My question for the curious is: How and when can/will the crypto market reach new highs if the previous highs were created artificially? We are awaiting for a sign of trend reversal out of Bitcoin bear market.


All being said and done, I certainly believe cryptocurrencies are the biggest invention of our lives and I’m extremely bullish in the long term. But, the world might not be ready for the true form of cryptocurrencies yet. Only time will tell in what form and how cryptocurrencies will survive.


 



























Categories 


Crypto Market Analysis 




Daily Crypto Update 19.06.2018 – Green Market But Some Uncertainty















The market is in green again and after the unexpected positive movement in all the charts yesterday, there is a question in the air and it is; how manipulable is the market and where these unexpected movements come from when it is evident that there is no important fundamental news especially in BTC which is the currency that moves the others?




General Overview




Live Crypto News:

Market Cap: $293.010.746.832

24h Vol: $13.905.498.839

BTC Dominance: 39.8%




marketCap19.06 - Live Crypto News:
marketCap19.06


The capitalization of the market continues to rise as well as the daily volume, this may mean that we could have a continuation of the increases if there is a strong enough push in the buyers.




Live Crypto News




TRON [TRX] the only double-digit gainer among top 50 [24 hrs].

Source: ambcrypto


‘Flaws’ in Japan’s Biggest Crypto Exchanges Will See Regulator’s Warnings

A handful of major Japanese exchanges including bitFlyer, Japan’s biggest and best-funded crypto trading platform, are facing business improvement orders from the country’s financial regulator and watchdog.

Source: ccn.com


‘A Moral Hazard’: Bank of Korea Opposes Central Bank Digital Currency

The Bank of Korea (BoK) has revealed it is against the idea of issuing a central bank digital currency following a feasibility review.

Source: ccn.com


Active Blockchain Projects in Use? Logistics is Overtaking Finance

Many predicted that finance would be among the first innovators in the blockchain. Harvard Business Review concluded that education about blockchain is no longer lacking in finance as it is in industries like manufacturing, predicting we’ll see finance projects finished first.

Source: ccn.com




Analysis




ETH/USD


Ethereum responded positively to the markets rise yesterday which represents gains of 7.37% in the last 24 Hours, after the breakout of the critical resistance of $520 the pair reached pivot R1 in $540 and at this moment is trying to cross this line. Nevertheless, the EMA of 100 periods is a little lower doing its job as strong resistance at this time. The RSI is in the overbought area as well as the Stochastic so the buyer impulse may be weakened in the next hours.









Market sentiment


ETH 4h chart bullish.


Oscillators are on the overbought zone.




Pivot points


R3 629.1 
R2 584.3 
R1 540.6 
P 494.7
S1 451.1 
S2 406.5 
S3 362.2




TRON/USD


TRON has gained 16.32% in the last 24 hours, apparently due to the negotiations that have already been made public about reports that founder Justin Sun is up to close a deal to acquire BitTorrent.







Now TRX is trading at $0.049, up from $0.041 from yesterday; the price has crossed the pivot R1 and now is trying to beat the EMA-100 after crossing the upper line of the descendant channel. If buyers pressure is strong enough the price should stay above the R1 for the next hours, waiting for a trend change that is not yet confirmed, the RSI and Stochastic indicators are in an overbought area which could send the price back to the channel.




 Market sentiment


TRX 4H chart is showing Bullish.


Oscillators are on the overbought zone.




Pivot points


R3 0.0599 
R2 0.0545 
R1 0.0484 
P 0.0428
S1 0.0369
S2 0.0313 
S3 0.0252




ADA/USD


ADA has gained 4.55% in the last 24H but has been moving within a narrow range in the last week, the price has not reacted to the latest news that says Cardano has been added to a tradable asset on eToro.







The support at $0.155 has been tested several times while the immediate resistance is at $0.1721. My appreciation for the pair is of a bearish continuation in the medium term, even though the indicators have already left the overbought area.




 Market sentiment


ADA 4H chart is showing Bearish.


Oscillators are pointing up in and over the 50 level.




Pivot points


R3 0.2194 
R2 0.2003 
R1 0.1804 
P 0.1614
S1 0.1414
S2 0.1224 
S3 0.1029




Conclusion




Live Crypto News: Difficult levels were overcome in the short term for many pairs but nothing is certain for the next sessions. Most of the cryptocurrencies are in green due to the unexpected yesterdays rise, but there is a lack of clarity about these movements and very likely the tendencies that were strong in the main pairs will be recovered; but if capital continues to enter the market it will help the main Cryptocurrencies to recover all the critical levels lost the last week.



























Categories 


Crypto Market Analysis 




Daily Crypto Update 19.06.2018 – Will Yesterday’s Spike Trigger a Trend Reversal

















General Overview




Market Cap: $287,823,534,235


24h Vol: $12,135,483,741


BTC Dominance: 40.0%


In the last 24 hours, something strange has happened. After a period of stagnation, all of a sudden the evaluation of the crypto market cap has spiked up from 276,698,000,000$ to 289,453,000,000$. The spike wasn’t caused by news or any fundamental factors, which is why this is strange.


I have written my take yesterday on what I think has happened in the post entitled ‘The Reason Of The Sudden Rise In The Crypto Market May Be Manipulation‘ which you can read here.


The market is currently in green as a result of the rise with an average percentage change ranging from 3-5%.




News




There aren’t any significant news items that came out in the last 24 hours that can justify the up move we have seen in the market. Top headlines that came out are informative in nature and every major news outlet reported on the sudden rise in the crypto market capitalisation rise.


Crypto Markets See $13 Bln Price Spike in One Hour, Despite Negative BIS Report – cointelegraph


Investors Turn Bullish as Cryptocurrency Market adds $12 Billion 24 Hours – ccn


Bitcoin Recovery Stalls Raising Risk of Price Drop – coindesk


Majority of analysts expected a steep fall to 6000$ for Bitcoin, which is why this unexpected rise is considered a news event and was reported by many.


Other relevant news in the crypto space are the following:


US: Federal Employees to Disclose Crypto Holdings Following New Guidance


The US Office of Government Ethics (OGE) has ordered federal employees to report their holdings of virtual currency, according to new guidance issued June 18. The guidance will affect around 2 million federal executive branch employees, including the Departments of Homeland Security, the Army, Justice, Veterans Affairs, and others.


Source: cointelegraph


EOS Vulnerability Will Lead to ‘Massive Exchange Hack’, Predicts Cornell Blockchain Researcher


Cornell professor Emin Gün Sirer forecasted his belief that EOS, will be the root cause of a significant cryptocurrency exchange hack at some point during the next calendar year.


“I’m calling it: there will be a massive exchange hack within the next year, taking advantage of an EOS vulnerability. That exchange will lose its hot wallet.”


“If EOS uses its arbitrators to reverse the hack, the contagion will spread downstream,” he added. There will be threats of lawsuits involving the devs and the [block producers].”


While clarifying that this prediction is not based on any specific vulnerability he has identified or believes lies hidden within the EOS source code, he argued that such an exploit is likely inevitable given the way developers “handle safety critical bugs.”


Source: ccn




Analysis




BTC/USD


From yesterday’s opening at 6378$ until now, the price of Bitcoin has increased by 5.28% and is currently sitting around 6714$.









Looking at the hourly chart we can see that the price interacted with the unconfirmed baseline support 2 (black dotted line) and was stopped at resistance found on those levels at 6850$. Currently, the price is sitting quietly in the middle of the range, as market participants are waiting to see if the spike up will push the prices higher.




Market sentiment 


Hourly chart signals a buy.


Oscillators are on buy and moving averages signal a strong one.




Pivot points 


S3 5685.4 
S2 6164.3 
S1 6436.7 
P 6643.2 
R1 6915.7 
R2 7122.2 
R3 7601.1




XRP/USD


From yesterday’s opening, the price of Ripple has increased by 4.91% going from 0.52$ to 0.547$ where it is currently.









The price has found support at the 0.51$ level and bounced off it, and is starting to interact with the minor resistance line, as you can see from the hourly chart. We will see what happens in the following hours, but if this resistance line gets broken I would expect the price to go up to the purple dotted line which is a significant level that served as support in the past.




Market sentiment 


Hourly chart technicals signal a buy.


Oscillators are on buy, and moving averages signal a strong buy.




Pivot points


S3 0.43653 
S2 0.48395 
S1 0.51157 
P 0.53137 
R1 0.55899 
R2 0.57879 
R3 0.62621




LTC/USD


In the last 24 hours, the price of Litecoin has increased by 4.29% rising from 93.6$ to 98$ where it is currently.











On the hourly chart, we can see that the price broke out of the bearish pennant on the upside and has stopped at a minor resistance line like other coins.




Market sentiment 


Litecoin is in the buy zone.


Oscillators are on sell, and moving averages signal a strong buy.




Pivot points


S3 82.890

S2 90.100

S1 94.469

P 97.310

R1 101.679

R2 104.520

R3 111.730




Conclusion




After the sudden rise, the prices of all major cryptos including these that are covered in this report have spiked up but were stopped out at minor resistance levels which means that the momentum behind the move wasn’t strong. Today, we will see if the spike serves as a signal for market participants to start buying, and that will be confirmed if the minor resistances are going to be broken and we see a high exceeding the prior one. That will in the case of Bitcoin be around 7000$, in the case of Ripple around 0.578$ and in the case of Litecoin around 111$.



























Categories 


Crypto Market Analysis 




Daily Crypto Update 18.06.2018 – Quiet But Scared Market















The market today started in red for most of the 100 top cryptos with loses between -0.2% and -7%, while many buyers are with their fingers on the trigger waiting for the $ 5700 BTC level to put their money inside the market for a rally higher and good profits.




General Overview




Market Cap: $275.605.476.514


24h Vol: $10.142.645.562


BTC Dominance: 40.2%




 


marketCap18.06
marketCap18.06


This is the sentiment today, still bearish but very nervous on both sides and with bitcoin dominance back to 40%, percentage not seen in the last two months.




News




Bitcoin Miners in China’s Remote Regions are Undeterred By Restrictions

Though Chinese authorities have previously taken various measures aimed at curtailing the trading of cryptocurrencies, the mining of Bitcoin has continued unabated in some of China’s remote parts according to a Nikkei Asian Review report.


Ripple Donates $2 Million to Texas University’s Blockchain Initiative

One of 17 institutions chosen for Ripple’s $50 million academic pledge, the University of Texas at Austin will receive $2 million from San Francisco-based industry giant Ripple.


Korean Authorities Admit to Postponing Cryptocurrency Regulation Because it Legitimises Market

Authorities have admitted that the South Korean government had postponed the regulation of the cryptocurrency sector because it feared consumers will acknowledge it as the government legitimising the cryptocurrency market.


Walmart Patents System for Accessing Medical Records Stored on a Blockchain

Big-box retailer Walmart has been awarded a patent for a system that is designed to store a patient’s vital medical records in a blockchain database. The information can then be retrieved at the scene of an emergency when a patient is unresponsive and can’t communicate with first responders.


Japanese Police Arrest 16 Individuals in Monero Cryptojacking Case

Cryptojacking is the process of installing mining scripts or outright malicious malware onto computers of unsuspecting users to mine cryptocurrencies. The most popular among these is Coinhive, a javascript mining script installed on websites. Hackers have been installing Coinhive on websites with weak security to mine Monero. Since Monero is a privacy coin, it makes it harder to catch criminals.


Source: ccn.com




Analysis




NEO/USD


NEO has lost -1.33% in the last 24 hours and -19% of its value in just 1 week. The price of the pair has been sidelined since June 13, when it touched the lower part of the Bearish Channel at $35.9 and bounced there until it reached $41.5, today it is moving in $37.1 below the Central Pivot Point and the indicators are shown in the oversold area.









The week begins bearish for the pair and the EMA’s are separating which indicates that lower minimums can come, the immediate support is in $35.8 and then the Pivot S1 in $33.7.




Market sentiment


4-H chart technicals signal a sell sentiment.


Oscillators are showing sell signals, and moving averages a strong sell.




Pivot points


R3 56.7
R2 51.8
R1 45.2
P 40.4
S1 33.7
S2 28.8
S3 22.3




EOS/USD


EOS has lost -2.10% in the last 24 hours and -33% in just 9 days, for now, it is moving at $10.2, below the Central Pivot Point and a little lateralised after having reached the Fibonacci retracement of 38.2 of the last drop, bouncing there and sending the price below the 23.6% retracement.







The Stochastic is showing oversold and the RSI is leaving the same area pointing up although the sentiment is still Bearish. For now, the price moves in the central part of the channel very close to the psychological number of $10 and the immediate support is $9.8 and below $9.1, minimum from last June 13th. The Central Pivot Point has also become important resistance and a bounce there could send the price quickly to the S1 pivot.

EOS network was frozen for several hours this weekend due to a bug in its consensus protocol. The EOS community went into panic however the price did not react negatively. EOS released a patch yesterday that restored the network functionality.




Market Sentiment


4H chart technicals signal Bearish.


Oscillators are on sell, and moving averages on a strong Sell.




Pivot points


R3 5.2
R2 13.7
R1 12.0
P 10.5
S1 8.8
S2 7.4
S3 5.7




ADA/USD


Two good news for Cardano this week: It was added to a tradable asset on eToro and will be added to CopyFund, this is an investment portfolio from eToro. The downtrend is still alive in ADA and it is now testing the support area of $0.1569.









The buyers did not have enough strength to cross the 38.2 Fibonacci retracement and now the price is moving into a narrow range.


——————————————————————————————————————————————————————————————-


Market sentiment


4-Hourly chart technicals signal neutral.


The stochastic is in the oversold levels and the gap between the 100-200-50 EMAS is widening which is showing that the sellers have the power.




Pivot points


R3 0.2192
R2 0.2002 
R1 0.1804 
P 0.1614 
S1 0.1411 
S2 0.1226 
S3 0.1021




Conclusion




The price is below the moving averages in these cryptos, while a bearish momentum will continue to manage the prices in the medium term. The sellers still have the influence in the market and there is a real expectation of new lows in the charts.


 



























Categories 


Crypto Market Analysis 




Weekly Crypto Update 18.06.2018 – Retest of the Lows Expected


















General Overview


Market Cap: $276,493,181,374


24h Vol: $10,178,348,969


BTC Dominance: 40.1%


From last Monday, 11th of June, the cryptocurrency market cap has experienced






General Overview


Market Cap: $276,493,181,374


24h Vol: $10,178,348,969


BTC Dominance: 40.1%


From last Monday, 11th of June, the cryptocurrency market cap has experienced














General Overview




Market Cap: $276,493,181,374


24h Vol: $10,178,348,969


BTC Dominance: 40.1%


From last Monday, 11th of June, the cryptocurrency market cap has experienced a short-term rise from 294,722,000,000$ to 301,321,000,000$ which was the weeks high, and after that, it has fallen to 265,974,000,000$ which was the weeks low on 13th of June. After the low, the market has recovered slightly and is currently sitting in the middle of the high-low range as you can see from the graph below.


 


Crypto Weekly Update




News




Top stories that came out in the last week are the following:


German Government Doesn’t Think Bitcoin Threatens Financial Stability


Officials from Germany’s federal government do not believe that Bitcoin poses a threat to the existing financial structure, as the volume of crypto transactions is too low compared to the size of the global financial system to be a great influence. However, the government added that cryptocurrency should be regulated as they continue to monitor the crypto space.


Proposed Bills In Michigan Classify Blockchain Tampering As Crime


Two bills currently proposed in the Michigan state legislature would make altering the public digital record on a blockchain with intent to defraud into a felony punishable by up to 14 years in prison, as well as adding definitions of distributed ledger technology to the Michigan penal code.


CBOE President Says SEC Calling ETH Not A Security Paves Way For ETH Futures


The president of CBOE–which released the first Bitcoin futures last December–said that the SEC’s recent decision that Ethereum will not be regulated as a security has removed a big “stumbling block” from the possibility of offering Ether futures.


Source: cointelegraph


 




Analysis




EOS/USD


From last Monday, the price of EOS has dropped from 11.3$ to 10.22$ which is 9.28% decrease.









As you can see from the daily chart, last Monday’s opening was the highest price it has been, and that level now serves as resistance. On June 13th, on which we saw the market experienced a low was also the day that EOS was at its lowest, closing as a Doji on that day. The next day price recovered significantly but was stopped out by the resistance of Monday’s open. Currently, the price pattern is looking unstable and I would expect another low from here to around 9.1$ at least which was last weeks low, or even further down to the support at 8.69$.




Market sentiment 


Daily chart technicals signal a sell.


Oscillators are signalling a sell, and moving averages a strong one.




Pivot points


S3 1.1720

S2 6.2113

S1 8.3731

P 11.2506

R1 13.4124

R2 16.2899

R3 21.3292




LTC/USD


From 108.461$ which was the opening price last Monday, the price of Litecoin has decreased by 13.87% and is currently 93.395$ per Litecoin.









As you can see from the daily chart, the opening on 11th of June was the highest price Litecoin has been, and since then it has fallen to 89.277$ on 13th of June and recovered slightly, but today’s candle is on the levels of 13th of June’s close. The price is currently about to break out from the triangle in which it was consolidating, and judging by the market sentiment the breakout from the downside is expected.




Market sentiment


Daily chart technicals signal a sell.


Oscillators signal a sell, and moving averages a strong one.




Pivot points


S3 44.706

S2 72.869

S1 84.755

P 101.032

R1 112.918

R2 129.195

R3 157.358




DASH/USD


The price of Dash has dropped from 281.27$ which was the opening price on Monday 11th of June to 251$ where it is currently sitting, which is a decrease of 10.2%.









As you can see from the daily chart, the price of Dash has followed the same pattern as the other cryptos as markets are strongly correlated – the price was at its highest on last Monday, its lowest on 13th of June and is now looking like its going to break out from the downside of triangle.




Market sentiment


Dashes daily chart technicals signal a sell.


Oscillators are signalling a buy, and moving averages signal a strong sell.




Pivot points


S3 130.32
S2 198.03
S1 231.81
P 265.73
R1 299.51
R2 333.43
R3 401.14




XMR/USD


From last Monday until today, the price of Monero has been dropping from 140.89$ to 103.84$ on 13th of June which was the lowest Monero has gone in the past week. Since that low, the price has recovered and went above the support line at 121.775$, but is now back below it.











On the daily chart, we can see that the support at 121.775$ is a significant level as that was the prior range resistance, from which the price went on a steep upward trajectory to the all-time high. We will see what happens on this level, maybe today’s candle will close above it, however, that’s highly unlikely considering the market correlation and the bearish sentiment.




Market sentiment 


Monero’s daily chart technicals signal a strong sell.


Oscillators are on sell, and moving averages signal strong one.




Pivot points


S3 22.723 
S2 75.123 
S1 100.647 
P 127.523 
R1 153.047 
R2 179.923 
R3 232.323




Conclusion




Crypto Weekly Update: As the prices were mostly consolidating after the low experienced on June 13th, the crypto market was mostly stagnating. The consolidation period is near completion and from my analysis of the four cryptocurrencies that are covered in this report, I conclude that we are in for another low. This week will most likely be the week of the retest of the lowest points cryptos have experienced in this prolonged correction after which I am expecting a short-term trend reversal.


This was my projection published on 02.06.2018 in my weekly update post, and it looks like it all going in accordance with my projection. What I meant by a ‘retest of the lowest points cryptos have been’ is to see the market at around $250B. After that, I would expect a short-term trend reversal to slightly below last high and then a final down move that many would consider ‘capitulation’, but I would consider it a great buy opportunity.




Crypto Weekly Update Chart


Market cap on 02.06.2018 with my drawn projection 


 




Market cap today 


 


For more on what I think it’s coming next, make sure to check out the weekly update video in which I will provide my longer-term analysis and the potential scenario of this correction using Elliott Wave principles.



























Categories 


Crypto Market Analysis 




Daily Crypto Update 18.06.2018 – Another Low Ahead

















General Overview




Market Cap: $276,643,180,630


24h Vol: $10,182,196,782


BTC Dominance: 40.1%


From yesterday’s open at 281,509,000,000 cryptocurrency market cap has decreased by around 4,5 billion dollars. The evaluation has been hovering around these levels for the most part as you can see from the graph below.




It looks like its forming a plateau as market participants are waiting to see if this is the bottom. Buyers don’t want to come in just yet as prices may decline further, and those who are thinking of selling don’t want to sell if this is the bottom.


Currently, the market is mostly in red, with an average percentage change ranging between 1-3%.




News




There aren’t any significant news items that came out over the weekend that could impact the market neither positively or negatively. Most significant headlines are those regarding technical improvements in particular cryptos and situations in their ecosystem.


Out of those stories that fit into this category the first that stands out is that Bitcoin Core Version 0.16.1 has been launched, according to the post from Linux Foundation


This is a new minor version release, with various bugfixes as well as updated translations.


This Bitcoin Core version removed miner block size recalling the depreciation of the “-blockmaxsize” option for miners to limit their blocks’ sizes in version 0.15.1. It states that miners now should apply “-blockmaxweight” option if they want to limit the weight of their blocks.


Ethereum is going to combine Casper and Sharding upgrades, as reported by cointelegraph.


The key point of the recent meeting is rescheduling the releases of two main Ethereum chain upgrades such as Casper and Sharding. Casper should have been released as a smart contract separately from the sharding upgrade. The new proposals suggest that Casper may be released on a shard, or a sidechain instead.


EOS blockchain is live again after a bug froze the network




The bug is now fixed and the network is up and running.




Analysis




BTC/USD


From yesterday’s opening at 6542$, the price of Bitcoin has decreased by 2.05% as it is currently sitting at 6430$.









As you can see from the hourly chart the price action has formed a symmetrical triangle and it looks like a breakout is soon going to happen. After the price consolidated a bit, it looks like it ready for a move, and I think a move to the downside is more likely to around 6000$, to retest of the lowest points and give potential buyers a better price, as the last low hasn’t triggered significant amount of buying that could push the price upward.




Market sentiment


Hourly chart technicals signal a sell overall.


Oscillators are signalling a buy, and moving averages a strong sell.




Pivot points


S3 6182.3

S2 6330.5

S1 6384.5

P 6478.7

R1 6532.7

R2 6626.9

R3 6775.1




ETH/USD


From yesterday’s high at 507$, the price of Ethereum has decreased by 3% and is now 492,68$.









Looking at the hourly chart we can see that the price action is also forming a triangle like in the case of Bitcoin. The breakout from the downside is more likely as the purple line represents the resistance from the descending channel which held the price strong in the past.




 Market sentiment


Hourly chart technicals signal a strong sell.


Oscillators are on sell, and moving averages on a strong one.




 Pivot points


S3 469.31
S2 484.44 
S1 490.76 
P 499.57 
R1 505.89 
R2 514.70 
R3 529.83




LTC/USD


The price of Litecoin has decreased over the last 24 hours by 4.21% – from 97.65$ to 93.66$.









Again we can see a triangle forming as market correlation is strong in the bear market, and judging by the steep angle of the triangle resistance line we can conclude that sellers are more aggressive at the moment, which means the breakout from the downside is more likely.




 Market sentiment 


Litecoin is in the sell zone.


Oscillators are on neutral, and moving averages signal a strong sell.




 Pivot points


S3 88.024 
S2 91.986 
S1 93.430 
P 95.948 
R1 97.392 
R2 99.910 
R3 103.872




Conclusion




As you have seen consolidative triangles are on all of the cryptos that I have covered in this report, and the breakout is about to happen today. As market sentiment is bearish, technical indicators signal a sell and judging by the steepness of the resistance line from the triangles I conclude that we are in for another low. I am expecting the price of Bitcoin to retest 6000$ level, Litecoin to 85$ and Ethereum to 460$ or less. Overall that would mean another 8% drop in the whole market which would bring the crypto market cap to around 250B which was the prior low.



























Categories 


Crypto Market Analysis 




Today´s Crypto Events 18.6.2018















This is the Cryptocurrency events calendar. All the news about the upcoming hard fork, releases, exchange listings,  updates, conferences, new launches, etc.




Today´s Events 18/6/2018




Docademic (MTC) – Monthly Airdrop


LATOKEN (LA) – Blockchain Economic Forum


StarCash Network (STARS) – Major Announcement


Pylon Network (PYLNT) – Roadmap Release


THEKEY (TKY) – Token Release


Aerium (AERM) – Swap Deadline


iExec RLC (RLC) – Deployment on Mainnet


Pylon Network (PYLNT) – Transactive Energy & Blockchain


IOTA (MIOTA) – First Charging Station in The World


Aion (AION) – Developer Meetup


Status (SNT) – Livestream


Synereo (AMP) – New Leaderboard


OriginTrail (TRAC) – Lunar Orbiter Release V1.0B-Rc


Ripple (XRP) – Listing on CoinSpot


Cashaa (CAS) – Livestream


Pillar (PLR) – BAI


DADI (DADI) – Developerweek


TokenPay (TPAY) – Listing on Cryptopia



























Categories 


Crypto Market Analysis 




Weekly Crypto Update 18.06.2018















A quite negative week for Bitcoin and the whole market of cryptocurrencies. The dominance of BTC continues with 40% of the market but we are facing a very difficult time where the bears took more than $30 billion despite some good news from the SEC. There is a widespread fear of a loss of the important support at $6,000, which would be catastrophic for all cryptocurrencies because we would probably see a minimum of the main currency close to $3,000.




General Overview




Market Cap: $277,355,449,832


24h Vol: $9,920,627,425


BTC Dominance: 40.0%


From last Monday, the market capitalization in cryptos has decreased from $294,759,000,000 to $276,905,000,000 so, 18B has gone out of the market.






Analysis




BTC/USD


BTC starts the week above the support of $6,400 but as I’ve said previously, if there is a confirmed breakout below $6,000 this week or in the following weeks, it would be bad enough for those who keep their coins static or those called “Coinhoders”; and as we have seen, there is a direct connection or correlation between the BTC and the altcoins, so the market would be a complete red spot.









 


In this daily chart, I keep maintaining the position of last week where the most feasible scenario is the case of breakout below $6,400, targets to be met would be the ones marked here $5,533 and $4,711. To consider a return of the bulls, the price would have to return above $ 8,000, we’ll see what happens this week.




Market sentiment


Bitcoin daily chart showing sell.


Oscillators are on oversold zone and EMAS pointing down.




Pivot points


R3 7639.1 
R2 7277.4 
R1 6866.4 
P 6504.60.8
S1 6414.7 
S2 5715.5 
S3 5304.4




XRP/USD


Ripple lost 25% of its value in the last week. Since yesterday it has been moving in a narrow range between $0.5194 and $0.5384, in a quite calm weekend for the three main pairs of the top 10 of the market. We will see if the buyers try a positive rescue in the pair this week, although I see enough resistances to beat on the road.









 




Market sentiment


XRP 4H chart is showing neutral.


Oscillators are on oversold zone and EMAS pointing down.




Pivot points


R3 0.6804 
R2 0.6409 
R1 0.5828 
P 0.5434
S1 0.4859
S2 0.4462 
S3 0.3902




ETH/USD


ETH has lost 19.1% since last Monday and 30% in the last month. This is not encouraging for short-term investors who have seen the pair touch two months minimums after a significant recovery that raised it to $835 last May 5.











This week begins with lateral movements in the pair and the Bollinger bands are narrowing quite a bit. We should expect an important break to one of the sides although looking at the indicators there is more chance of a downward movement than the opposite. The Asian Session just starts and we are looking forward to an interesting week in the charts.




Market sentiment


ETH 4H chart is showing Bearish.


Oscillators are pointing down near 50.




Pivot points


R3 638.99 
R2 590.86 
R1 544.43 
P 496.90
S1 450.4
S2 402.94 
S3 355.41




 Conclusion




As the market is quite battered, investors are waiting for what may happen this week and if the market is going to recover in the short term, there is a lot of fear for a possible drop continuation in Bitcoin which as we know could generate a completely red market. Panic Selling could be the next word to use if the week starts bearish for the cryptocurrencies.



























Categories 


Crypto Market Analysis 




Daily Crypto Update 15.06.2018 – Positive Signs


















As the market is in green again and we are waiting for further positive movements because many of the cryptos are gaining upside momentum, we will see if this weekend






As the market is in green again and we are waiting for further positive movements because many of the cryptos are gaining upside momentum, we will see if this weekend












As the market is in green again and we are waiting for further positive movements because many of the cryptos are gaining upside momentum, we will see if this weekend does not surprise us like the last weekend and the market can sustain itself this way. Although the trend has not been reversed so we have to be careful.




General Overview




Cryptocurrencies: 1629

Market Cap: $280.574.505.254

24h Vol: $15.343.266.248

BTC Dominance: 39.9%


Market capitalisation has moved up by 6 billion dollar which indicates the Capital is coming back after the hard current week.








News




Billionaire Investor Explains Why Bitcoin Price Will Hit $250,000 by 2022

Billionaire venture capitalist and investor Tim Draper has long been one of cryptocurrency’s biggest bulls, and that has not changed during the first half of 2018, even as bitcoin price has sunk more than 67 per cent from its all-time high.


Ripple Expects India to Overturn Cryptocurrency Ban with Regulations

Ripple is reportedly ‘unfazed’ by the Indian central bank’s mandate on restricting banks from dealing with cryptocurrencies and expects a new regulatory framework to rescind the ban altogether.


Crypto Market Rebounds as SEC Clarifies Bitcoin and Ethereum are Not Securities

The cryptocurrency market has rebounded from $271 billion to $291 billion, by more than $20 billion in the past 24 hours, as the US Securities and Exchange Commission (SEC) clarified that Bitcoin and Ethereum are not considered as securities under the laws of the US.


‘Netflix of Cryptocurrency Mining’ to Hold IPO on London Stock Exchange

A cryptocurrency mining startup is reportedly making a foray into becoming the first industry firm to be listed on the London Stock Exchange.


Why Africa Is Fertile Ground for Bitcoin Adoption

Despite fears and scepticism over usage of virtual currencies for crime, tax evasion, and money laundering, more African countries and individual investors are increasingly embracing cryptocurrencies to escape challenges to do with fiat money and to mop up extra value from informal markets that dominate the continent.




Analysis




XRP/USD


In the last hours, Ripple price found support in the 50-MA after bouncing in the 100-EMA when sellers appeared close to $0.56.








 


At the moment, the price is moving around $0.5439 and very close to the lower line of this ascending channel in this 1h chart, if the price continues moving inside the channel, we could see a further higher over the $0.5700 level in the short term.




Market sentiment 


Ripple is moving in range during the last hours


RSI undecided and pointing down, Stochastic in oversold zone.




Pivot points


R3 0.6271 
R2 0.5976 
R1 0.5773 
P 0.5461 
S1 0.5276 
S2 0.4989 
S3 0.4778




ETH/USD


After having taken a big jump from the support at $464, the price went up to $530, above the 100-EMA on this 4H chart and breaking the upper line of the channel.








 


Then the price declined to find support at $487 where buyers have pressed again today moving the price up to $503 where it is currently, more pressure is expected in the next few hours as the indicators are pointing up and even with a lot of ground in the field.




Market sentiment 


ETH technicals are showing buy momentum


RSI pointing up, Stochastic is near to oversold levels




Pivot points


R3 617.09 
R2 543.71 
R1 546.72 
P 503.04 
S1 476.34 
S2 432.66 
S3 405.97




BCH/USD


BCH has lost 29% in just ten days, the way to recover won’t be that easy, now the price is moving around $871 with difficult to overcome the Fibonacci retracement of 23.6% of the last drop, I see a lot of strong resistance in this 4H chart such as $925 (R1 + 38.2% Fibbo) and $956 .







 




Market sentiment 


BCH is showing neutral signs.




Pivot points


R3 1006.16 
R2 957.54
R1 925.35 
P 874.67 
S1 847.13 
S2 798.68 
S3 766.91



























Categories 


Crypto Market Analysis 




TODAY’S CRYPTO EVENTS 15.6.2018















TODAY’S EVENT 15/6/2018




This is the Cryptocurrency events calendar. All the news about the upcoming hard fork, releases, exchange listings,  updates, conferences, new launches, etc.




GoldCoin (GLD) – Cryptolina 2018


SpaceChain (SPC) – Cryptolina 2018


Storiqa (STQ) – DMFX Financials


Flash Token (FTOKEN) – Online Store Launch


Viuly (VIU) – Beta Release


Digital Money Bits (DMB) – Masternode Swap


Docademic (MTC) – Monthly Airdrop

Lightning Bitcoin [Futures]

(LBTC) – Listing on FUBT


AppCoins (APPC) – Aptoide with Side-Chain


Particl (PART) – Livestream


Pylon Network (PYLNT) – Seoul Presentation


LUXCoin (LUX) – Mercury v5.0

Civic (CVC) – Webinar


WePower (WPR) – Community AMA


Apex (CPX) – Listing on BitZ


Hydrogen (HYDRO) – Community AMA


StarCash Network (STARS) – New Website Release


Aion (AION) – Community AMA


Bigbom (BBO) – Listing on Kyber Network


DADI (DADI) – Community AMA


Humaniq (HMQ) – Community AMA


QuarkChain (QKC) – Korea Meetup


Odyssey (OCN) – Seoul Meetup


Vice Industry Token (VIT) – Livestream


Decred (DCR) – Listing on Huobi


Bitcoin God (GOD) – Livestream



























Categories 


Crypto Market Analysis 




Daily Crypto Update 15.06.2018 – Be Ready For Another Low

















General Overview




Market Cap: $283,999,903,554


24h Vol: $15,738,961,943


BTC Dominance: 39.8%


In the last 24 hours, the crypto market cap has been showing sideways action as the evaluation went from 268,312,000,000$ to 290,760,000,000$ and has been decreasing since that point to around 283B where it is currently.




The market is currently mixed in colour with a small average percentage change of around 0.4-2%.




News




The most significant news that came out in the last 24 hours which may impact the space positively is that a senior U.S. Securities and Exchange Commission (SEC) official has said that leading altcoin Ethereum will not be regulated as a security, as reported by the Wall Street Journal.


SEC Corporation Finance Director William Hinman said at Yahoo Finance’s All Market Summit: Crypto in San Francisco today that:


“Based on my understanding of the present state of ether, the Ethereum network and its decentralised structure, current offers and sales of ether are not securities transactions.”


This news is interpreted by some analysts as the fundamental factor in charge of the rebound we are seeing currently in the markets.


Another significant news headline is that Coinbase Index Fund opens for large-scale investors, as reported by cointelegraph.


The fund, whose creation was announced in March, is available only to U.S. resident accredited investors – those who have a net worth of more than $1 mln or an annual salary of more than $200,000 – who invest between $250,000 and $20 mln.


Both of these headlines may introduce some short-term confidence in the markets, and impact it positively.




Analysis




BTC/USD


Since yesterday’s low at 6273$, the price of Bitcoin has increased by 5.3% coming to 6605$ where it is currently sitting. The price went a bit higher to 6660$ where the resistance was found, as you can see from the chart below.









Looking at the hourly chart, we can see that current formation looks similar to that of the prior low. The price is currently above the 0 Fibonacci level, but it might drop again steeply, as the cluster is starting to form around 6660$ level which serves as resistance.




Market sentiment 


Bitcoin is in the sell zone.


Oscillators are on neutral, and moving averages signal a strong sell.




Pivot points


S3 5612.5

S2 6079.6

S1 6356.6

P 6546.6

R1 6823.6

R2 7013.6

R3 7480.6




XMR/USD


The price of Monero is on the same levels as it was on yesterday’s opening around 122$.









Looking at the daily chart, we can see that the price of Monero has broken out off of the triangle on the downside and has currently found support at prior range resistance. Wednesday’s candle was a hammer Doji that tested the prior range support line and from there went on to recover quickly.









Zooming into an hourly chart, we can see that from the spike down price went to 133.6$ four times and hasn’t exceeded the level which means there’s a strong resistance there, which made the price fall back again to the support line.




Market sentiment


Hourly chart technicals signal a strong sell.


Oscillators are on sell, and moving averages signal a strong one.




Pivot points


S3 96.317 
S2 112.207 
S1 122.293 
P 128.097 
R1 138.183 
R2 143.987 
R3 159.877




DASH/USD


From yesterday’s opening at 245$, the price of Dash has increased by 6.2% and is currently sitting slightly below 260$.









Looking at the daily chart, we can see that the price of Dash found support at the levels of the current range support at around 238.85$.











Zooming into an hourly chart we can see that the price action is forming the same pattern like it did last time it bottomed out, but also similar to that of the prior triangle fractal from which the price went on to continue in a downward trajectory and finally to the current low.




Market sentiment


Hourly chart technicals signal a sell.


Oscillators are on neutral and moving averages signal a strong sell.




Pivot points


S3 201.55 
S2 231.57 
S1 249.39 
P 261.60 
R1 279.42 
R2 291.62 
R3 321.65




 Conclusion




As price action of the three cryptocurrencies that I have covered in this report are showing signs of a recovery, they are also struggling to get past the first resistance that they face. I think we might see another low to the levels of the lasts one or even a bit lower, before a short-term trend reversal.



























Categories 


Crypto Market Analysis 




DASH/BTC Imminent Breakout

















Dash (DASH)




Market Cap: $2.17B


Circulating Supply: 8.13M DASH


Max Supply: 18.9M DASH


Volume (24H) $114.09


DASH/USD = $268.17




DASH Technical Analysis




DASH/BTC is trading right below some very, very important resistance levels. It seems somehow motivated to pass above them, but it remains to be seen if the buyers will have enough energy to push the rate higher. The rate moves in a range in the short term after the failure to move towards the downside line of the down channel and after the false breakdowns below the lower median line (LML) of the major descending pitchfork and below the outside sliding line (sl)of the ascending pitchfork.







 


Right now you should stay away and wait for a valid breakout from the down channel, above the lower median line (lml) and above the 0.041780 static resistance (support turned into resistance). It is very important for the price to make a valid breakout from this minor accumulation because if it stays too much within it, it could turn into a distribution and the rate could drop further.


DASH/BTC has shown an oversold sign when it has failed to approach the down channel’s downside line, but we still need a confirmation that we may have another leg higher.




 Conclusion 




DASH Technical Analysis: A valid breakout above the mentioned near-term resistance levels will give us a great chance to go long on this crypto pair. It could find temporary resistance at the 50% lines, but the major target remains around the median line (ML) of the major descending pitchfork and at the median line (ml) of the ascending pitchfork.


 



























Categories 


Crypto Market Analysis 




Daily Crypto Update 14.06.2018 – The Market Is Stressed















The market is trying to take a break in its drop and Technical Indicators seem to be pointing to a bullish movement for some of the most important currencies, some greens are now in the charts after some important support levels were touched yesterday. The drop, however, has not been declared as finished and all the accumulated drops of the week need big buying efforts to call the following days positive for the different pairs.




General Overview




Cryptocurrencies: 1628

Market Cap: $274.212.015.277

24h Vol: $16.658.912.029

BTC Dominance: 40.1%


Market capitalisation has moved down but just by 2 billion dollar which indicates the Capital Outflow has decreased and the market seems ready to receive buyers.






News




Thailand SEC Eyes Approval of 5 ICOs out of 50 Applicants This Month

Thailand’s Securities and Exchange Commission (SEC), the country’s capital markets authority, is reportedly expecting to approve five initial coin offerings (ICOs) this month.


India’s Central Bank Banned Cryptocurrency with Zero Research or Consultation

The Reserve Bank of India has responded to a query seeking explanations for its reasons to ban banks from dealing with the cryptocurrency industry, admitting it conducted no research prior to its prohibitive action.


$250,000 to $20 Million: Coinbase Launches Index Fund for Large Investors

Coinbase has officially launched its new cryptocurrency index fund, a product specifically catered to large investors, enabling access to all five cryptocurrencies listed on the platform.


Bitcoin Price Bounces From $6,100 to $6,500, Market Buys Breathing Room

The bitcoin price has demonstrated a short-term corrective rally from $6,100, rebounding to $6,500 over the past 24 hours, rising by around 6.5%. Small cryptocurrencies and tokens followed the price movement of bitcoin on the upside.


ICOs are Securities, ‘Don’t Know How Much More Clear I Can Be’: SEC Chairman

The SEC held a public forum on June 13, “Investing In America: Atlanta Town Hall Meeting.” The town hall was highly anticipated because regulators planned on speaking about cryptocurrency regulations and innovation. The session was open to the public and streamed live on the SEC website.


Source: cnn.com




Analysis




ETH/USD


ETH/USD Has gained 9.61% in the last 24 hours, the price reached $494 showing what would be a good rebound signal and quickly weakened sending the price to $463, then came a big and unexpected buyers movement that sent the price over the immediate resistances and its moving right now at $516, just over the 100-EMA .









With this movement, the indicators changed to point up, which indicates that there may be a good upward journey.




 Market sentiment


1-hour chart Technical indicator show Bullish Momentum.




 Pivot Points


R3 554.7 
R2 528.5 
R1 502.2 
P 476
S1 449.7 
S2 424.1 
S3 397.9




TRON/USD


The price of TRON reports an increase of 4.10% today, Thursday, bouncing strongly in the pivot R1 in this 4H chart and its current price is $0.0413. TRON continues its Bearish trend and it seems that it wants to stay in the middle of the Bearish Channel.







For now, the Central Pivot Point is holding the price but a breakout of this could take it to the bottom of the channel, On the positive side we see that indicators are leaving the oversold area and pointing up. What can keep the price above the Central Pivot Point?




 Market sentiment


4-hour chart Technical indicators pointing up, Bearish.


Moving averages separated and pointing down, showing sell signs.




 Pivot points


R3 0.0511
R2 0.0477
R1 0.0443
P 0.0408
S1 0.0375
S2 0.0340
S3 0.0306




XRP/USD

The price of the XRP reports a slight increase of 1.73% in the last 24 hours without showing a significant recovery and remains below $0.55, the price did not reach in its short recovery at the R1 Pivot in this 4-hour chart and its moving now at $0.5484. This level is important to maintain as it would avoid more losses in the short term.







 The resistance of $0.55 in R1 is quite strong and there must be a significant buyer impulse to take it above $0.56.




Market sentiment


4-hour chart Technical indicators pointing up, Bearish.


Moving averages crossing possible bearish movement.




Pivot points


R3 0.6176
R2 0.5899 
R1 0.5601
P 0.532 
S1 0.5016
S2 0.4739
S3 0.4431




Conclusion




The market is stressed after the long drops of the current week, buyers should appear in any moment to take advantage of the minimums in many pairs.



























Categories 


Crypto Market Analysis 




Daily Crypto Update 14.06.2018 – Is The Bottom In?

















General Overview




Market Cap: $280,634,597,761


24h Vol: $16,964,367,687


BTC Dominance: 39.8%


In the last 24 hours, the cryptocurrency market cap went from around $281B to 264,215,000,000$ which was yesterday’s low and from there on, the evaluation has been on a rise. 


Currently, the market is mostly in green but with an average percentage change ranging from 2 to 5% amongst the top 100 coins. Biggest gainers are Icon +13%, Siacoin 23.9%, Nano 17%, All Sport +25%. Out of those who are in red biggest losers are Emercoin -7%, Maker -5.5% and Dogecoin -5.16%.




News




There isn’t any significant news that can impact the market sentiment. News stories that came out are mostly negative or neutral, but there are positive once. Most significant headlines that came out in the last 24 hours are the following:


Finance professor at the University of Texas, John Griffin, an academic with a history of spotting fraud in financial markets conducted a research in which he concluded that Bitcoin’s price was artificially inflated last year, through Tether and Bitfinex, as reported by NY Times.


Mr. Griffin looked at the flow of digital tokens going in and out of Bitfinex and identified several distinct patterns that suggest that someone or some people at the exchange successfully worked to push up prices when they sagged at other exchanges. To do that, the person or people used a secondary virtual currency, known as Tether, which was created and sold by the owners of Bitfinex, to buy up those other cryptocurrencies.


Thomson Reuters adds sentiment data tracking of 100 Top Cryptocurrencies


Canadian mass media and information company Thomson Reuters will now be tracking the top 100 currencies in its sentiment data tool. The necessary data will be provided via a partnership with MarketPsych Data LLC, according to a WebWire press release published Wednesday, June 13.


Google Trends: Bitcoin in Its Dark Hours Still More Popular Than Beyonce


Google searches for Bitcoin have reportedly declined 75 percent through 2018, yet the leading cryptocurrency is still outstripping the famous music star Beyonce on Google Trends, CNBC reported Tuesday, June 12th.


Ripple CEO Claims Bitcoin Is Under Control of Small Group of Miners From China


Ripple’s CEO Brad Garlinghouse said that “Bitcoin is really controlled by China,” speaking at the 2018 Stifel Cross Sector Insight Conference in Boston, financial news outlet TheStreet.com reported June 12.


Ripple: Banks Unlikely to Apply Blockchain for Cross-Border Payments in Near Future


Ripple chief cryptographer David Schwartz claims that banks are unlikely to deploy blockchain to process international payments, citing low scalability and privacy problems, Reuters reports June 13.


Western Union Will Not Add Crypto Transfer Support in Near Future, Says CEO


Western Union Co. CEO Hikmet Ersek said the global money transfer service will not add a cryptocurrency transfer solution to its services anytime soon, MarketWatch reported June 13.




Analysis




BTC/USD


In the last 24 hours, the price of Bitcoin has spiked down from 6541$ to 6112$ and quickly bounced off of that level leaving a wick. The price is currently sitting at 6483$ which is just slightly below yesterday’s opening.









 


Looking at the hourly chart we can see that the spike down was below the 0 Fibonacci level, and the price is currently struggling to go above it, as indicated from the wicks on the upper side of the candles. I have labelled with a rectangle the prior low pattern and it looks similar to the current one. My target for this low was at 6000$ which was the lowest low of this correction so far, and I think we were going to retest it. This still may be happening so the question imposes – is the bottom in? Judging by the spike and a quick bounce we could say that, but we will have to wait for a confirmation.




Market sentiment


Hourly chart technicals are not useful, as they are all on neutral.




Pivot points


S3 5330.6 
S2 5834.4 
S1 6064.8
P 6338.2 
R1 6568.6 
R2 6842.0 
R3 7345.9




LTC/USD


The price of Litecoin has decreased from just slightly below 100$ to 89.2$ at the lowest point yesterday and has recovered since to 96.16$ where it is currently sitting, which is an overall decrease of 3.49%.









 


Similar to Bitcoin we can see the spike down as a wick on the hourly chart, which means that the spike happened in less than an hour. From that, we can conclude that buying was triggered and buyers were eager to buy at those levels quickly, as they figured it was a great price to get in. I am expecting it to maybe retest those levels again, much like it did previously.




 Market sentiment 


Litecoin hourly technicals signal a buy.


Oscillators are on buy, and moving averages are on a buy.




Pivot points


S3 71.966 
S2 83.149 
S1 88.335 
P 94.332
R1 99.518 
R2 105.515 
R3 116.698




NEO/USD


From yesterday’s opening at 41.4$, the price of Neo has dropped to 35.85$ and has recovered since to just slightly below 40$ where it is sitting currently.









 


As you can see from this hourly chart, this was my short-term projection and the target had a slightly offset but I was close. The price of Neo is currently interacting with the support area so we will see if it serves as resistance or not. If it does serve as resistance I would expect the price to go slightly below my target but the candle to close on it.




Market sentiment 


Hourly chart technical signal a buy.


Oscillators are on buy, and moving averages are on neutral.




Pivot points


S3 26.84

S2 32.61

S1 35.27

P 38.38

R1 41.04

R2 44.15

R3 49.92




Conclusion




The prices of three major cryptos that were covered in this report missed the lowest lows in this correction just slightly. In the case of Bitcoin, that’s at 6000$ which was my short-term target. The question that everyone is asking is “is the bottom in” cannot be answered conclusively still. Judging by the quick spike and a quicker recovery we can definitely say that buying was triggered, but are those buyers going to propel the price upward and cause a trend reversal we will see. I was really hoping to see a retest of the lowest lows, and I still think there’s a possibility that we see another low and another spike and a quick recovery. What I can say at this moment regarding this matter is that the bottom is in this area, and we are likely going to see some sideways action today before a confirmation.



























Categories 


Crypto Market Analysis 




SAN/BTC Is The Retreat Completed?

















Santiment Network Token (SAN)




Market Cap: $53.67M


Circulating Supply: 62.66M SAN


Max Supply: 0 SAN


Volume (24h) $777.54K


SAN/USD = $0.85343




SAN/BTC Technical Analysis




SAN/BTC has found a very strong support and now is fighting very hard to recover after the impressive sell-off. It remains to be seen what will happen because the rate has already found a temporary resistance. You should know that the rate remains under selling pressure as long as it is located right below some very important resistance levels.







 


It is trading at 0.000131380 level, much below the 0.000142000 today’s high signalling that we could have a retest of the near-term support levels soon. SAN/BTC has found a strong support right below the down sloping line and right below a major support zone. Actually, it has made a false breakdown below the mentioned levels and that’s why we could think of another leg higher at least in the short term.


SAN/BTC could increase only if it will stay above the 0.000127226 static support, above the down sloping line and below the lower median line (lml) of the ascending pitchfork. However, a valid breakdown below the lower median line (lml) will confirm a further drop in the short term.


Price is trapped below the downtrend line and below the 50% Fibonacci line of the ascending pitchfork. So, only a valid breakout above these dynamic resistance lines will confirm a broader rebound.




Conclusion




We’ll have a great buying opportunity only after a valid breakout above the downtrend line and above the 50% line. The major upside target it will be at the upper median line (uml) of the ascending pitchfork.



























Categories 


Crypto Market Analysis 




XRP/BTC Up Channel, Can We Buy It?

















Ripple (XRP)




Market Cap: $21.69B


Circulating Supply; 39.24B XRP


Max Supply: 100B XRP


Volume (24h) $412.65M


XRP/USD = $0.55050




Technical Analysis




 


The rate dropped on the daily chart, but it has found a bottom at the 0.000069000 level and now tries to climb higher again. XRP/BTC failed to reach and retest the mentioned low, signalling that we may have a rebound. The price increased a little but failed to stay above the 0.000100000 psychological level.


The crypto pair has failed to reach the previous lows so the behaviour could change in the short term. However, we still need a confirmation that the rate will increase again.







 


You can see on the Daily chart that the rate has failed to stay below the median line (ML) of the descending pitchfork and is now trading above it. It has retested it and closed much higher signalling that the buyers could step in again in the short term.


XRP/BTC remains under some pressure as long as it is trading below the sliding parallel line (SL) of the descending pitchfork. Price is trapped within an up channel, so it is somehow expected to climb towards the upside line as long as it stays above the downside line.


You can notice that it has failed to reach and retest the downside line and the lower median line (lml) of the ascending pitchfork. Right now, it is trying to take out the 50% Fibonacci line of the ascending pitchfork to be able to climb at least to the previous high.




 Conclusion 




Personally, I believe that we may have a significant upside movement if the rate will really manage to make a valid breakout above the inside sliding line (SL) of the descending pitchfork and above the 50% Fibonacci line of the descending pitchfork.  The major target will be at the upside line of the up channel and at the upper median line (uml) of the ascending pitchfork.



























Categories 


Crypto Market Analysis 




Happenings in the Cryptoverse


















Happenings in the Cryptoverse

Bitcoin Vs Altcoins: The Cryptocurrency field is in quite of a rough spot when it comes to price at the moment. With altcoins being pegged to






Happenings in the Cryptoverse

Bitcoin Vs Altcoins: The Cryptocurrency field is in quite of a rough spot when it comes to price at the moment. With altcoins being pegged to












Happenings in the Cryptoverse


Bitcoin Vs Altcoins: The Cryptocurrency field is in quite of a rough spot when it comes to price at the moment. With altcoins being pegged to the price of Bitcoin, any movement seems to affect cryptocurrencies globally. Why is this happening and what to do?


 


Why Are Altcoins Dropping In Price More Than Bitcoin?


Bitcoin Vs Altcoins


If, however, Bitcoin is rising in price, they are winding up slower because traders are riding the wave that Bitcoin created. After the spike up happens, altcoins take over and people diversify their portfolios from the previous gains they had.


 


Bitcoin price manipulation or something else?


Bitcoin price manipulation


Is this price fall an “attack” on Bitcoin and all of the Cryptocurrencies, or something else?


As you know, I am very conservative when it comes to accusing someone of price manipulation. There is always (in a way) a form of price manipulation from the big holders, but it’s usually not to shut down an asset, but rather just to profit from it. Also, the MtGox trustee has been a great source of fear and FUD with people, which further decreased optimism when it comes to Crypto.


 


So, it is price manipulation?


Only a small part of the price drop (I believe) is price manipulation. Investors were panic selling every step of the way down. Ultimately, the biggest reason for the drop in the value of Cryptocurrencies is nothing else but levelling of expectations and capabilities.


People had great expectations from day 1 of investing, but the truth is that Cryptocurrencies (most of them) were not ready for mass adoption and mass use, especially Bitcoin. This situation made the Crypto field a speculative field rather than an objective one. The price drop that happened levelled the expectation that people had regarding what Blockchain and Crypto could do for the world, rather than just turn a dollar into a few more, or into none.