Home Crypto Crypto Market Analysis Daily Crypto Update 17.07.2018 – BTC over $ 7000 and dragging up...

Daily Crypto Update 17.07.2018 – BTC over $ 7000 and dragging up the market

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The market is still showing several rises right now, the BTC has crossed the $ 7000 level and is dragging al the ats behind. The prices all along the charts are having an upside momentum due to the possibility of crypto EFTs being approved, if this happens, we´ll see huge capitals coming into the marketplace and the possible will take the prices high in most of the cryptos. It is late to take long positions if we didn´t in the last minimums, it is better to wait for a reversal or a bullish trend confirmation.


General Overview


General Overview

Market Cap: $286.112.341.605

24h Vol: $15.314.441.846

BTC Dominance: 42.8%

Cryptocurrency News

In the last 2 hours, the market capitalisation has increased 12 billion, this has taken all cryptos up and the market is a completely green field right now.


Cryptocurrency News


Buy a Whole Bitcoin Before Buying Any Altcoins, Says Litecoin Creator Charlie Lee
It’s common for longtime cryptocurrency investors to advise newcomers to invest heavily in bitcoin and — depending on their proclivity toward “Bitcoin maximalism — ethereum before investing in what many of them not-so-affectionately refer to as s–tcoins. What’s less common, though, is for an altcoin creator himself to give that same advice.Yet that’s exactly what Litecoin creator Charlie Lee did on Monday when he counseled his Twitter followers to obtain at least 1 BTC before buying any other cryptocurrency, LTC included.
Source: ccn.com

SEC Shutters Kodak-Branded Bitcoin Mining Rig ‘KashMiner’
The developer behind the purported and much-publicized Kodak-branded bitcoin mining equipment has officially halted operations and has denied ties to Kodak.
As CCN reported, KashMiner, a bitcoin mining equipment, was showcased at CES 2018 back in January by the company Spotlite USA, which claimed to be a licensee of the Kodak brand.
Source: ccn.com

Bitcoin Mining Giant Bitmain Opens 20,000 Sq. Foot Office in Silicon Valley
Bitmain, the cryptocurrency industry’s most valuable company, has just opened an office in Silicon Valley ahead of its planned initial public offering (IPO) later this year.
The Silicon Valley Business Journal reports that the China-based cryptocurrency mining hardware manufacturer has just moved into 20,000 square feet of office space in downtown San Jose, CA, filling the last vacancy in the city’s Riverpark Towers office building, which has become a hub for tech startups including Okta, Cohesity, and WeWork.
Source: ccn.com


Analysis


LTC/USD

Litecoin price has been recovering since yesterday from the support at $ 76.00 reaching a maximum at $ 84.00 then the price retraced a little and now is using the central pivot point as support at $ 81.79, there is an important rise in the last hour in most of the cryptos following the BTC that has crossed the important level of $ 7000. if the price can keep this level above $ 85.00 we possibly see it going up for the $90.00




Market sentiment

4-H chart technicals signal a Bullish sentiment.

Oscillators are in the overbought zone and pointing down.


Pivot points

R3 92.2300
R2 88.1647
R1 85.8910
PP 81.8257
S1 79.5521
S2 75.4868
S3 73.2131

BCH/USD

The price of the pair is performing a breakout of this bullish pennant pattern in this 1-H chart and seems to extend the rally higher. The price has crossed the important level of $ 800 and crossed easily the pivot R1 at $ 833 if the bulls continue to push we could see the pair easily testing the $ 850.




Market sentiment

4-H chart technicals signal a strongly Bullish sentiment.

Oscillators are in the overbought zone, showing buy signals and pointing up.


Pivot points

R3 932.4777
R2 872.1778
R1 837.0168
PP 776.7169
S1 741.5560
S2 681.2561
S3 646.0951

ETH/USD

The price of Ethereum is running behind the BTC in the last hours winning 2.8% in the last hour sitting now at $497 the buyer’s impulse is very strong and we could possibly see a prolonged raise in the next hours.




Market sentiment

4-H chart technicals signal a Strongly Bullish sentiment.

Oscillators are showing buy signals and pointing up.


Pivot Points

R3 526.63
R2 503.42
R1 491.12
PP 467.91
S1 455.61
S2 432.40
S3 420.10

Conclusion


Cryptocurrency News: This is an important moment for most of the alts, if BTC manages to stay above $7000, this could be the way to start a new and pronounced rise in the pair.

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