Tag: Crypto Trading

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Crypto Market Analysis

Daily Crypto Update 05.07.2018 – A Breath to Take Direction?

Cryptocurrency Prices Live: The Crypto Market is showing consolidation in the currencies that we will be analysing today and although we still do not see a defined course, it seems that the bulls are losing momentum and there is uncertainty about whether the last raise will continue or the cryptos will be involved in new minimums. By now, the second option is the most probable since today the top 10 of the market is in red except for Ethereum with a minimum gain of 0.34% in 24 hours.

General Overview

Market Cap: $271.699.753.396

24h Vol: $15.382.782.187

BTC Dominance: 42.1%

Cryptocurrency Prices Live

News

‘Stop Trying to Create Money!’: BIS Chief Carstens on Cryptocurrency
Carstens, the newly-christened general manager of the Bank for International Settlements (BIS) — the so-called “central banks’ central bank” — is on record as one of cryptocurrency’s fiercest critics. Earlier this year, for instance, he said that bitcoin is “a bubble, a Ponzi scheme, and an environmental disaster.”
Source: ccn.com

Head of Russia’s Top Bank: the State Will Keep ‘Centralised Role’ in Money Emission
The CEO of Russia’s largest state bank Sberbank, Herman Gref said he could not yet foresee governments “yielding their centralised role” in fiat currency creation as part of his comments on cryptocurrency.
Source: cointelegraph.com

South Korea Legitimizes Blockchain Industry With Major New Classification Standards
Three Korean ministries – the National Statistical Office, the Ministry of Science and Technology, and the Ministry of Information and Communication – are said to have been working since the end of last month to produce the final draft of a new blockchain industry classificatory scheme, ready by the end of July.
Source: cointelegraph.com

Analysis

XRP/USD

Ripple price has had small losses since the beginning of the session and at this moment is at $0.4846 trying to get away from the EMAs200-100 after having bounced on the lower line of the bullish pennant.


The Central Pivot Point looks strong as resistance and we must be alert to a possible new bounce there to look again for the bottom of the Bullish Pennant.

Market sentiment

1-H chart technicals signal a sell sentiment.

Oscillators are showing buy signals and pointing up.

Pivot points

R3 0.5389
R2 0.5228
R1 0.5074
PP 0.4913
S1 0.4759
S2 0.4598
S3 0.4444

ETH/USD

Ethereum has gained 0.34% in the last 24-H and is currently valued at $470. The price has been moving in range throughout the day while the strength of the buyers has disappeared and the price remains unable to definitely leave the bearish channel in this 4-H chart, the Central Pivot Point is still strong as a support.


Market sentiment

4-H chart technicals signal a Bullish sentiment.

Oscillators are showing neutral signals.

Pivot points

R3 513.26
R2 497.69
R1 482.43
PP 466.86
S1 451.60
S2 436.03
S3 420.77

EOS/USD

EOS couldn’t keep the price above $9.00 and now is sitting around $ 8.88.


The price is currently moving over the EMA-100 that is working as an immediate support close to $8.75. Indicators still show an extra field down for the bears and if they want to add some pressure, the price could go to test the Pivot S1.

Market sentiment

1-H chart technicals signal a Bearish sentiment.

Oscillators are showing sell signals and pointing down.

Pivot points

R3 10.19
R2 9.82
R1 9.36
PP 8.99
S1 8.53
S2 8.16
S3 7.70

 Conclusion

Cryptocurrency Prices Live: The market seems to be taking a breath and this is why some of the currencies in this update have moved in narrow ranges during the day, in summary, we don’t know where we are going at the moment and there is no solid confidence that the recent rises are strong enough. We expect directional movements at any time.

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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.

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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?

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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.

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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.

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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.

 

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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.

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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.

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Crypto Market Analysis

2GIVE/BTC Turned To The Downside

2GIVE (2GIVE)

Market Cap: $2.88M

Circulating Supply: 519.37M 2GIVE

Max Supply: 0 2GIVE

Volume (24h): $11.07K

2GIVE/USD = $0.005658

2GIVE/BTC Technical Analysis

The 2GIVE/BTC rate has dropped significantly today and has reached the 0.00000084 level, but now has squeezed a little in the last hours. We may have a great selling opportunity if the rate will drop further and will close below the  0.00000084 low and below the downside 50% Fibonacci line of the major descending pitchfork. Personally, I believe that only a valid breakout above the outside sliding parallel line (SL) will invalidate the bearish scenario.


 

The rate has made a valid breakdown below the uptrend line which is the same as the lower median line (lml) of the ascending pitchfork, and also failed to reach and retest the SL of the minor descending pitchfork. Price could drop deeper because it stays closer to the downside 50% Fibonacci line of the major descending pitchfork.

The first target it will be at the 50% line and at the 150% line, a breakdown below the mentioned dynamic support lines will send the rate towards the upper median line (UML). Actually, the median line (ML) could attract the rate after the several false breakouts above the upper median line (UML).

Conclusion

The 2GIVE/BTC should drop further if it will close below the 0.00000084 today’s low and below the 50% line of the major descending pitchfork. The first major downside target remains at the ML of the minor descending pitchfork. A Stop Loss can be placed right above the 0.00000105 high.

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Crypto Market Analysis

Metaverse ETP – Is This A Temporary Drop?

Metaverse ETP (ETP)

Market Cap: $26.12M

Circulating Supply: 35.84M ETP

Max Supply: 100M ETP

Volume (24h) $4.50M

Technical Analysis

ETP/USD continues to move sideways somehow in the short term but it remains to be seen what will really happen after the rate will reach the major and critical support. The price drops in the short term as all the major cryptocurrencies have crashed in the short term. The rate continues to stay above some very important support levels, so we may still have a rebound on the short term.

 


 

Unfortunately, the rate failed to make a valid breakout above the outside sliding parallel line (sl) of the minor descending pitchfork and now it has slipped below the upper median line (uml) again. It is pressuring the upper median line (UML) of the major descending pitchfork, so a rejection from here and from the 0.6000 psychological level will signal a rebound and a potential breakout above the outside sliding line (sl).

Right now it is very important for the rate to stay above the UML of the major descending pitchfork and above the 0.6000 psychological level because a breakdown will send the rate at least till the upside 50% Fibonacci line of the descending pitchfork.

Conclusion

We may have a great buying opportunity only if the rate will make a valid breakout above the outside sliding line (sl). This scenario will be invalidated if the rate will resume the downside movement and if will close and stabilise below the 0.5701 static support.

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Crypto Market Analysis

XMR/USD You Can Still Catch The Sell-Off

Monero (XMR)

Monero Market Cap: $2.16B

Circulating Supply: 16.12M XMR

 Max Supply: 0 XMR

Volume (24h) $36.49M

Technical Analysis

 The cryptocurrency could extend the sell-off in the upcoming period after the crucial breakdown.  The rate passed below a major support area signalling that the bears are in full control. Right now it remains to be seen if the rate will come back to retest the broken zone or it will drop further without a rebound.

Monero drops as all the major cryptocurrencies have started another bearish momentum. The crypto market could resume the major downtrend.


 

You can see that the rate has made a valid breakdown below the first warning line (WL1) of the ascending pitchfork, it has retested the lower median line (lml) of the other ascending pitchfork and now is trading much below the 150.00 psychological level.

It has also retested the uptrend line failing to close on it, so the current drop is natural and was expected. If you read the latest trade setup on this crypto, you’ll notice that I’ve talked about a significant drop after the rate will make a valid breakdown below the 150.00 level and below the 145.810 low.

XMR/USD could be attracted by the confluence area formed between the 250% Fibonacci line (descending dotted line) with the 150% of the ascending pitchfork.

Conclusion

If you want to go short on this you should place your Stop Loss above the 177.78 high. Personally, I still believe that the rate could move towards the first warning line (wl1) of the minor descending pitchfork. A further drop will be confirmed only by a valid breakdown below the 250% line and below the 150% lines.

Categories
Crypto Market Analysis

EOS Breakout Trade Ahead

A real quick update here on a trade I’ve been monitoring, a possible breakout of EOS in the Square of 90.

Following Gann’s Rule of Angles, when the price breaks and closes an angle, it will move to test the next. EOS is approaching an angle break AND the break of a downtrend structure. Great entry here at 14.83.

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Crypto Market Analysis

NEO Could Hit The Floor

NEO (NEO)

Market Cap: $3.39B

Circulating Supply: 65M NEO

Max Supply: 100M NEO

Volume (24h) $79.80

Technical Analysis

NEO/USD is trading in the red and seems determined to extend the current drop. It has failed to stay higher and now moves towards important support levels. The major cryptocurrency drops as the crypto market is in the red again.

It could drop further in the upcoming days if Bitcoin, Ethereum, etc. will resume the bearish momentum. Several false breakdowns and some rejections have signalled that the crypto pair could drop further in the short term.


 

The price has escaped from the ascending pitchfork’s body and now could drop towards the 50.00 psychological level. The drop was confirmed by the false breakout above the lower median line (lml) of the ascending pitchfork and after the valid breakdown below the sliding line (sl) of the ascending pitchfork.

Right now we need a confirmation that the crypto will drop further. It has slipped below the SL of the major descending pitchfork and below the 150% Fibonacci line of the ascending pitchfork. Only a valid breakdown below the mentioned lines and below the upside 50% Fibonacci line of the minor descending pitchfork will signal and will really confirm a drop towards the UML of the major descending pitchfork and towards the sliding line (sl1) of the minor descending pitchfork.

I’ve drawn a descending pitchfork to show you that the rate is trapped within a down channel. A further drop could be invalidated only by a valid breakout above the upside sliding line (sl) of the minor descending pitchfork.

Conclusion

NEO/USD will drop further if it will close below the 51.81 yesterday’s and today’s low and could reach the sliding line (sl1) and the median line (ml). The Stop Loss could be placed somewhere above the sl2.

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Crypto Market Analysis

Is Bitcoin Already Exhausted?

Bitcoin (BTC)

Market Cap: $130.38B

Circulating Supply: 17.08M BTC

Max Supply: 21M BTC

Volume (24h) $ 4.29B

Bitcoin Price Analysis

Bitcoin has rebounded on the short term, but the upside movement seems completed.  The cryptocurrency is showing some exhaustion signs and could attract the sellers again. The next days could be crucial because a significant decrease will confirm a drop at least to the 6000 psychological level. The major cryptocurrencies have increased a little since last week, but this may be only a temporary rebound before the prices will drop again.


 

If you read my articles and editorials about Bitcoin, you’ll notice that I’ve talked about the importance of the outside sliding parallel line (SL) of the ascending pitchfork. I’ve said that the rate could drop after the retest of the downtrend line and after the failure to make a valid breakout above the third warning line (WL3) and above the SL2.

The sliding line (SL) represented a crucial dynamic support and I’ve mentioned that a valid breakdown will invalidate a potential leg higher and will confirm a further drop. The minor rebound could validate the breakdown if the rate will stay below it and if it will drop again.

Technically, the rate was somehow expected to increase after the valid breakout from the minor down channel, but Bitcoin remains under huge pressure as long as it is trading below the sliding line (SL), the fourth warning line (WL4) and much below the downtrend line.

Conclusion

Bitcoin Price Analysis: You can sell it again if it stays below the SL and below the 7779.0 static resistance with a first downside target at the 150% line of the ascending pitchfork. The Stop Loss could be placed around 7900 level.

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Crypto Market Analysis

ETP/BTC Potential Buy Opportunity Building?

ETP/BTC moves in range but you should be ready for a breakout from this extended sideways movement. Are you long or short on this pair?

Metaverse ETP (ETP)

Market Cap: $30.46M

Circulating Supply: 35.79M ETP

Max Supply: 100ETP

Volume (24h) $4.60M

ETP/USD = $0.85474

Technical Analysis

ETP/BTC continues to move sideways in the short term, so we should wait for a valid breakout so we can take action again. The rate has found a bottom at the 0.00007820 level and failed to reach it again in the last attempts, signalling a potential rebound.

The pair remains under pressure in the short term as long as it is trading below two important resistance levels.


 

You can see on the Daily chart that it has found a strong demand zone right below the downside 50% Fibonacci line of the descending pitchfork and now moves towards the median line (ML). The rate could continue to move sideways, but you should also be ready for a breakout. Right now we need to wait to see the breakout direction.

Right now it seems a little exhausted because it has failed to reach the median line (ML). Personally, I believe that we could have a great trading opportunity if the rate will pass above the median line (ML) and if it will stay there. A great buying opportunity will appear only after a valid breakout above the 0.00012860 static resistance.

Conclusion

It remains to be seen if this sideways movement will be an accumulation or a distribution. We should wait for a valid breakout and only then to open a position. You can buy it from above the 0.00012860 static resistance having a first target at the upside 50% Fibonacci line. A selling opportunity will appear after a valid breakdown from this pattern.

Categories
Crypto Market Analysis

Incent Sell-Off?

Incent (INCNT)

Market Cap: $14.80M

Circulating Supply: 46.02M INCNT

Max Supply: 0 INCNT

Volume (24h) $46.57K

Technical Analysis

The rate increased today but is seems pressured in the short term. INCNT/USD climbed above the broken dynamic support, but I’m afraid that it will drop further in the short term. We may have a great selling opportunity if the rate will close below the 0.29524790 yesterday’s low and could drop much below the 0.20000000 psychological level.

Price is struggling to stay higher, but I’m afraid that the crypto market could turn to the downside again after the temporary rebound. The major cryptocurrencies have increased a little, but are signalling an exhaustion already, so Incent could drop as well if the other cryptocurrencies will slip lower.


 

You can see on the Daily chart that the price has found a strong resistance at the 0.42260400 level and now has slipped below the lower median line (lml) of the ascending pitchfork. It is pressuring the sliding line (sl) of the ascending pitchfork after the lower median line (lml) retest. A valid breakdown below the sliding line will confirm a drop for the upcoming period.

INCNT/USD could drop even if it will pass above the 150% line as long as it will stabilise below the sliding line (sl).

Conclusion

The price seems that it could drop from here because it has stayed too much on the sliding line (sl). You can sell it from below the 0.29524790 yesterday’s low and you could place the first target at the 0.15696000 level. The Stop Loss should be above the 0.42260400 static resistance.

Categories
Crypto Market Analysis

Dogecoin Could We Have A Breakout?

Dogecoin (DOGE)

Market Cap: $433.90M

Circulating Supply: 114.75B DOGE

Max Supply: 0 DOGE

Volume (24h) $14.08M

Technical Analysis

Dogecoin (DOGE) continues to move higher on the short term after the failure to reach the near-term support levels. The cryptocurrency increased as the crypto market has managed to recover a little after the last corrective phase.  You should know that the perspective remains bearish on the short term because the rate is still trapped below a downtrend line which represents a very strong dynamic resistance.

The rate moves sideways on the short term, so maybe will be better to stay away until we’ll have a valid breakout from this extended range.


 

DOGE/USD has developed a major triangle on the Daily chart and now the rate has failed to approach and reach the downside line signaling a potential reversal. The rate has turned to the upside on the short term, but it remains to see how long this will be because it has increased slowly. The current rebound could be only temporary and it could still drop towards the 0.00288000 – 0.00248254 support area.

Price dropped along the upper median line (uml) of the descending pitchfork,, but failed to reach the first warning line (WL1). It could still reach the WL1 as it is trading very close to it. Dogecoin (DOGE) has managed to breakout above the 150% line and could fight hard to reach the first warning line (wl1) in the upcoming period.

Conclusion

A really great buying opportunity could appear only after a valid breakout above the downtrend line, above the warning line (wl1) and above the 0.00487198 static resistance. The Stop Loss could be placed below a former low.

 

Categories
Crypto Market Analysis

AMP/USD Falling Wedge?

Synereo (AMP)

Market Cap: $17.89M

Circulating Supply: 100.73M AMP

Max Volume: 0 AMP

Volume (24h) $100.53K

Technical Analysis

The Synereo (AMP) cryptocurrency is on a declining path on the daily chart and seems determined to drop much deeper in the upcoming period. The perspective remains bearish on the daily chart as long as the rate stays below the downtrend line. AMP/USD has developed a Falling Wedge, but this pattern is far from being confirmed.

A reversal signal could appear only after a valid breakout from the Falling Wedge pattern. The crypto has shown little action in the short-term signalling that the bears could be exhausted.


 

You can see on the Daily chart that the rate dropped again after the last two failures to reach and retest the median line (ML) of the major descending pitchfork. You should know that a valid breakdown below the 0.17160910 level will confirm a further drop towards the downside line of the Falling Wedge. A further drop is somehow expected after the failure to reach and retest the upside line of the chart pattern. However, a rejection from here will send the rate at least up to the upside line but is less likely to happen as the crypto market maintains a bearish bias despite the minor rebound.

You can see that the rate was rejected and was sent higher by the sliding parallel line (SL) of the descending pitchfork, but you should know that a valid breakdown will send the rate towards the LML.

Conclusion

The perspective remains bearish for now, so you should stay away until we really have a bullish signal. We may have a great buying opportunity if the AMP/USD rate stays above the SL and if it will manage to take out the downtrend line. Unfortunately, the crypto is under massive selling pressure as it continues to stay near the sliding line (SL).

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Crypto Market Analysis

Cryptocurrencies Mirage

The crypto market total capitalisation has reached the $345,848,996,562 level and a $15,093,140,340 daily volume, much lower compared to January 2018. Nowadays everyone wants to make huge profits by trading or investing in the cryptocurrencies. There are all kinds of economists and specialists that continue to sustain that the cryptocurrencies should drop much deeper because they are overstated. You should know that what happened on Bitcoin won’t happen again because the conditions have changed and there are a lot of factors that influence the market.

Source: investing.com

Also, the crypto market is very volatile because the traders and investors are more cautious and they prefer to trade on the short term after last month’s major corrective phase. Last year’s amazing rally is history now, so we need to focus on what could happen in the upcoming period and maybe we’ll catch other important movements in the short to the medium term.

The high volatility makes trading very risky because the market could turn against you very fast and you can suffer a heavy loss.

In this editorial, I want to talk about the EOS because this crypto has become one of the most important and most traded cryptocurrency.

EOS/USD Analysis


 

As you can see on the Daily chart, EOS/USD rallied aggressively and reached fresh new highs in the last months. It has increased from 3.8723 on March 18, 2018, to 23.0290 level on 29 April 2018. So, EOS increased sharply and has brought amazing profits to those that have invested in it. That’s why more and more people want to trade or to invest in the crypto market. We still have great opportunities despite all the rumours and even if the market is very volatile. I’ve said in another editorial that the cryptocurrencies should be treated like any other speculative assets and that’s exactly what you should do if you don’t want to have any surprises.

EOS/USD plunged after reaching the 23.0290 top and now has found a strong support and a bottom on the median line (ml) of the ascending pitchfork, and right below the 61.8% retracement level. The two false breakdowns below the 61.8% retracement level have sent the rate higher again.

EOS/USD still has a huge potential if it stays above the median line (ml) of the ascending pitchfork, but you should know that only a valid breakout above the upper median line (uml) and above the 250% Fibonacci line will confirm another significant upside movement. The major target remains at the 23.0290 historical high.

Conclusion

You should know that there will be a lot of opportunities in the crypto market despite the high volatility and despite the bearish bias. If you’ll make a great analysis you may find cryptocurrencies with important potential, but you should take into consideration all the factors that could ruin your scenario and your expectations.

 

 

Categories
Crypto Market Analysis

RDD/BTC Lost The Bearish Momentum

ReddCoin (RDD)

Market Cap: $195.44M

Circulating Supply: 28.81B RDD

Max Supply: 0 RDD

Volume (24h) $3.62M

RDD/USD = 0.006804

Technical Analysis

RDD/BTC rallies right now and resumed yesterday’s bullish candle. The rate approaches a very strong dynamic resistance, so it remains to see how it will react. A valid breakout will confirm a further increase in the short term. The rate has shown some oversold signs after the failure to make new lows. It seems that the behaviour has changed, but we still need a confirmation that the rate will increase further.


 

As you already know, it is very important for the major crypto to increase, and maybe we’ll have an important increase with this pair as well. The last drop was expected and it was natural after another failure to reach and retest the median line (ML) of the sideways pitchfork.

RDD/BTC has found strong support right above the 0.00000076 level and above the 61.8% retracement level. The failure to drop towards the 76.4% level and towards the LML of the sideways pitchfork has attracted the buyers again.

It has also failed to reach the median line (ml) of the minor descending pitchfork signalling a breakout from the descending pitchfork’s body. A valid breakout above the upper median line (uml) should send the rate towards the median line (ML) again.

Conclusion

We can go long after a valid breakout above the upper median line (uml). The first target it will be at the warning line (wl1) and at the ML of the sideways pitchfork. The Stop Loss can be placed below the 0.00000076 level.

Categories
Crypto Market Analysis

CFI/BTC Did You Buy It?

Cofound.it (CFI)

Market Cap: $19.54M

Circulating Supply: 325M CFI

Max Supply: 0 CFI

Volume (24h) $472.54K

Technical Analysis

The CFI/BTC crypto pair increased today and it seems like we’ll have a breakout attempt above a very strong dynamic resistance. A valid breakout will announce a potentially larger rebound for the upcoming period. However, you should stay away for now because another leg higher needs to be confirmed. CFI/BTC has shown little action in the short-term, signalling that the bears could be exhausted. The price is moving sideways somehow in the short term, that’s why we need to be very careful because anything could happen.


 

You can see on the Daily chart that the rate has finally managed to break out above the first warning line (WL1) of the descending pitchfork and now has reached the downtrend again. The price has failed to reach and retest the downtrend line in the past week signalling a bearish pressure. A valid break out above the downtrend line could help us to go long on this cryptocurrency.

I’ve drawn a minor ascending pitchfork, so a breakout above the downtrend line followed by a retest of the lower median line (lml) will confirm a rebound in the short term.

Conclusion

We can buy CFI/BTC if the rate stays above the 0.00000711 static support and within the ascending pitchfork’s body. The first important upside target will be at the median line (ml) of the ascending pitchfork. A failure to breakout above the downtrend line and a valid breakdown below the 0.00000711 level will invalidate the bullish scenario for now.

Categories
Crypto Market Analysis

XRP/BTC Looks To Trade Higher

Ripple (XRP)

Market Cap: $26.18B

Circulating Supply 39.24B XRP

Max Supply: 100B XRP

Volume (24h) $397.67M

XRP/BTC Technical Analysis

XRP/BTC increased and maintains a bullish perspective in the short term. It remains to see what will really happen in the upcoming period because the crypto market is still weak. The rate dropped in yesterday’s trading session as the crypto market dropped further.

The price rebounded in the short term after the failure to reach the previous lows. The rate has managed to break out above some very important resistance levels and now is struggling to reach new highs.


 

The rate has made a false breakdown below the 150% line of the descending pitchfork signalling that we may have an oversold situation. It has moved sideways on the short term but now has started an upside movement after the breakout above the WL1 of the descending pitchfork.

The perspective will remain bullish in the short term as long as the rate stays above the 150% Fibonacci line of the minor ascending pitchfork. The next upside obstacle is at the 61.8% Fibonacci level, so we need a breakout above this level so we can think of a further increase.

It looks bullish in the short term, you can see that the price failed to retest the minor red uptrend line, signalling that the buyers are strong.

Conclusion

We can go long on this crypto pair if it will close above the 0.000091050 yesterday’s high and we can place a stop loss below the 0.000073170 low. A valid breakout above the 61.8% level will send the rate towards the 50% line and maybe towards the median line (ml) of the ascending pitchfork.

Categories
Crypto Market Analysis

Ethereum – Is This A Bullish Signal?

Ethereum (ETH)

Market Cap: $58.98B

Circulating Supply: 99.88M ETH

Max Supply: 0 ETH

Volume (24h): $1.84B

Ethereum (ETH) Technical Analysis 

ETH/USD changed little today but continues to be under selling pressure in the short term. The rate has managed to rebound and to stay above a crucial support level. Right now we need a confirmation that the rate will increase further in the short term because the rate dropped significantly in yesterday’s trading session.

However, yesterday’s drop could be considered to be only a temporary one because the rate could try to test and retest the broken dynamic resistance. We’ll see what will really happen because Ethereum (ETH) and all the major cryptocurrencies have decreased a little after the last day’s increase.


 

Ethereum increased after the false breakdown below the lower median line (LML) of the ascending pitchfork. It has managed to jump and close above the outside sliding line (SL) of the descending pitchfork. The price has come back to pressure the broken sliding line (SL), so, it remains to see if this will really be a valid breakout. ETH/USD could test and retest the LML as well before it will really decide to increase.

The false breakdown below the LML has signalled another leg higher, so we can go long on this but only if the rate will stay above the SL and above the LML. 

Conclusion 

Ethereum (ETH) has turned to the upside on the short term, but only a rejection from the SL and from the LML will really confirm a further increase. You can go long on this if the rate will stay above the mentioned support lines having a first target at the 50% Fibonacci line and the second target at the ML of the ascending pitchfork. The Stop Loss can be placed below the LML.

Categories
Crypto Market Analysis

Monero Further Drop On The Cards

Monero (XMR)

Market Cap: $2.57B

Circulating Supply: 16.1M XMR

Max Supply: 0 XMR

Volume (24h) $38.49M

Monero (XMR) Technical Analysis

Monero plunged today and erased the yesterday’s gains. The price maintains a bearish perspective on the short-term after today’s drop. The rate has failed to close above a dynamic resistance (support turned into resistance) and now it seems determined to challenge a major support area. A valid breakdown will signal a further drop.

All the major cryptocurrencies have dropped today signalling that the rebound could be temporary and the crypto market could resume the downside movement.


 

You can see that the rate has increased a little after the false breakdown below the 151.260 static support, but yesterday’s failure to close above the lower median line (lml) of the ascending pitchfork has signalled that the rate could resume the corrective movement.

We can go short on this cryptocurrency if it will make a valid breakdown below the 151.260 static support, and if it will close below the 145.810 former low. The price could stabilise below the first warning line (WL1) of the ascending pitchfork, which represents another bearish signal. It has also retested the minor uptrend line which represents the downside line of the triangle chart pattern.

Conclusion

You can sell Monero if the bearish scenario will be confirmed. The first downside targets will be at the 150% lines. The Stop Loss can be placed above the 177.780 yesterday’s high.

Categories
Crypto Market Analysis

BTG/BTC Long After A Valid Breakout

Bitcoin Gold (BTG)

Market Cap: $741.47M

Circulating Supply: 17.05M BTG

Max Supply: 21M BTG

Volume (24h) $16.06M

BTG/USD = $43.309

Technical Analysis

BTG/BTC is on a declining path on the daily chart. The rate dropped significantly in the last months as the crypto market has crashed. Right now, it is very important to see what will really happen in the short term because the rate hovers right above a crucial support level. A valid breakdown will confirm a further drop in the upcoming period. The rate dropped today as the all major cryptocurrencies have dropped significantly today.


 

The price dropped and has found strong support at the 0.005564 level on April 12, 2018. It has increased a little and has made a valid breakout above the median line (ML) of the descending pitchfork. Unfortunately, the rate didn’t resume the rebound and has started another minor corrective phase in the short term.

BTG/BTC has found a temporary support again and has increased a little in the last days, that’s why I’ve drawn an ascending pitchfork. Unfortunately, the rate dropped significantly and could invalidate a further increase in the short term. The next few days will be crucial because a valid breakdown below the 0.005564 will signal a further drop.

We may have a buying opportunity only after a valid breakout above the downtrend line and if the rate will stay within the minor ascending pitchfork’s body.

Conclusion

You could go long after a valid breakout above the downtrend line. We’ll have an important upside target at the median line (ml) of the minor ascending pitchfork and another one at the UML.

Categories
Crypto Market Analysis

UBQ/BTC Selling Scenario

Ubiq (UBQ)

Market Cap: 460.52M

Circulating Supply: 41.06M UBQ

Max Supply: 0 UBQ

Volume (24h) $87.51K

UBQ/USD = $1.49419

Technical Analysis

UBQ/BTC is trading in the red today and seems under a lot of selling pressure after the last day’s failure to close on or near a dynamic resistance line. Technically, the perspective remains bearish in the short term despite the last day’s minor gains.

A further and a larger drop could be validated soon if the rate will take out a static support. Right now will be better to stay away and to go short only after the bearish scenario will be confirmed.


 

UBQ/BTC has made a valid breakdown below the uptrend line as the rate has come back to retest it. You can see that the rate has failed to close near the former uptrend line showing a bearish pressure. It has made only a false breakout above the sliding line (sl1) of the descending pitchfork. The rate is trapped between the inside sliding parallel line (sl and the sl1) of the descending pitchfork.

A failure to stay above the median line (ml) of the descending pitchfork will announce a further drop and a potential breakdown below the sliding line (sl) and below the 0.00017750 static support. You can see it from below the mentioned support levels. The next target will be at the downside 50% Fibonacci line (descending dotted line).

 Conclusion 

The corrective phase will continue if the UBQ/BTC rate will make a valid breakdown below the 0.00017750 static support and below the sliding line (sl). The first target will be at the downside 50% Fibonacci line and the second one at the WL1 of the former major ascending pitchfork. The Stop Loss can be placed above the 0.00022661 Wednesday’s high. You should know that a valid breakout above the upside sliding line (sl1) will signal a bullish opportunity.

Categories
Crypto Market Analysis

Litecoin Holding The Minor Gains

Litecoin (LTC)

Market Cap: $6.71B

Circulating Supply: 56.79M LTC

Max Supply: 84M LTC

Volume (24h) $297.53M

Technical Analysis

Litecoin was into another correction phase on the short term as the crypto market has turned to the downside again. The price increased aggressively on Tuesday and has shown an oversold signal. However, it is still premature to talk about a significant increase after one strong bullish candle. I’ve seen a lot of analysts that are sustaining that the major cryptocurrencies will start to increase again and that the correction is completed. Personally, I need a confirmation before I’ll go long again because the major cryptocurrencies are still trapped below some very important and strong resistance levels.


 

You can see that Litecoin has developed a major triangle on the Daily chart, so only a breakout from this pattern will bring a clear direction for the upcoming period. Price has retested the downside line of the chart pattern and failed to reach and retest the 106.52 static support.

LTC/USD failed to reach and retest the upside 50% Fibonacci line of the descending pitchfork in the last two attempts signaling that the sellers are exhausted after last week’s drop.

We’ll see what will really happen when the rate will reach the fourth warning line (wl4) of the former ascending pitchfork. You should know that a valid breakdown below this dynamic support will signal a further drop. You can see that I’ve drawn a minor ascending pitchfork, so it could come to test and retest the lower median line (lml) in the upcoming days.

Conclusion

You can buy it only if the rate stays within the minor ascending pitchfork’s body, and if it stays above the triangle’s downside line. The first upside target it will be at the UML of the descending pitchfork and the second one at the upside line of the chart pattern. The Stop Loss can be placed below the 106.52 level.

Categories
Crypto Market Analysis

Can We Buy Ethereum Classic?

Ethereum Classic (ETC)

Market Cap; $1.57B

Circulating Supply: 101.96M ETC

Max Supply 0 ETC

Volume (24h) $ 130.57M

Technical Analysis

Ethereum Classic posted minor gains today and the upside is still uncertain.  The price has found temporary support in the short term and is now trying to bounce back. It is approaching a very important dynamic resistance, so a valid breakout could attract more buyers.

ETC/USD has shown some oversold signs on the daily chart, so we can start thinking about another leg higher if the rate will validate our scenario.


 

As you can see, the rate dropped but it has made two false breakdowns below the downside 50% Fibonacci line of the major descending pitchfork, signalling that the buyers can step in again. The increase is very fragile, but I hope that a valid breakout above the 150% Fibonacci line of the minor descending pitchfork will open the door for more gains.

I’ve drawn a minor ascending pitchfork hoping that I’ll catch the next upside movement, so a retest of the lower median line (lml) followed by a significant increase will announce a bullish momentum. The rate stays much above the 13.046 static support. You can place your Stop Loss below this level if you go long on this crypto.

The last drop was expected after the false breakout above the median line (ML) of the major descending pitchfork.

Conclusion

A valid breakout above the 150% line will signal a further increase in the upcoming period. The next upside target will be at the median line (ML) of the major descending pitchfork. The 13.046 level could represent an invalidation level, a valid breakdown below it will confirm a further drop.

Categories
Crypto Market Analysis

XEM/BTC Finally Poised To Bounce?

NEM (XEM)

Market Cap: $2.31B

Circulating Supply: 9.00B XEM

Max Supply: 0 XEM

Volume (24h) $ 17.15M

XEM/USD = $0.25736

Technical Analysis

XEM/BTC increased today and has resumed the last day’s humble gains. The price remains under selling pressure in the short term because it is still located below some very important resistance levels. A valid breakout above the near term resistance levels will bring us a great buying opportunity. The crypto pair dropped in the short term as the crypto market retreated.

The crypto market has shown some recovery signs in the last days, but we still need a confirmation that the major crypto will increase again.


 

You can see that the rate has found temporary support on the minor uptrend line and on the 50% Fibonacci line of the minor descending pitchfork. We can go long on this pair only after a valid breakout above the minor downtrend line and above the median line (ml) of the minor descending pitchfork. XEM/BTC failed to drop towards the 0.00002857 static support, signalling that the bears could be exhausted in the short term.

Price could continue to move sideways in the short term and could reach the 150% Fibonacci line of the major ascending pitchfork. The rate also failed to approach and retest the 50% Fibonacci line of the major descending pitchfork.

It could move towards the median line (ml) of the major descending pitchfork if it will make a valid breakout from the minor triangle (chart pattern).

Conclusion

We may have a great long opportunity if the rate will have enough energy to stay above the 0.00002857 static support and if it will jump and will stabilise above the median line (ml) of the minor descending pitchfork. We’ll have an important target at the median line (ml) of the major descending pitchfork.

Categories
Crypto Market Analysis

Metaverse ETP Long Opportunity Eyed

Metaverse ETP (ETP)

Market Cap: $29.46M

Circulating Supply: 35.73M ETP

Max Supply: 100M ETP

Volume (24h) $4.23M

Technical Analysis

ETP/USD decreased a little today, but it seems undecided in the short term. Price is narrowing right now, that’s why you should stay away and wait for a fresh trading signal. It could start a broader upside movement if it will take out the near term resistance levels.

It has developed a minor chart pattern, but we still have to wait to see the breakout direction. It has shown some oversold signs, but it is still under pressure as long as it is trapped below some very important upside resistance levels.


 

You can notice that the rate has failed to make a valid breakdown below the 50% Fibonacci line of the minor descending pitchfork signalling an oversold. It has run away from the 50% Fibonacci line of the major descending pitchfork signalling that the behaviour could change soon.

ETP/USD failed to reach and retest the 0.6000 psychological level, that is why we can think of another bullish momentum. However, the rate is trapped below the upper median line (uml) of the minor descending pitchfork, below the outside sliding line (sl) of the minor descending pitchfork, and much below the UML of the major descending pitchfork. Support can be found at the first warning line (wl1) of the ascending pitchfork.

Conclusion

We’ll have a perfect buying opportunity if the rate will make a valid breakout above the mentioned resistance levels. The next upside target will be at the 150% Fibonacci line of the ascending pitchfork and the second one at the lower median line (lml). A drop below the 0.6000 – 0.5701 static support will invalidate the bullish scenario.

 

Categories
Crypto Market Analysis

Qwark sits above support area

Qwark (QWARK)

Market Cap: $4.07M

Circulating Supply: 56.48M QWARK

Max Supply: 0 QWARK

Volume (24h) $18.21K

QWARK/USD = $0.070850

Technical Analysis

QWARK/BTC slips lower on the Daily chart and is almost to reach a major and crucial support area. Price remains under selling pressure after the failure to climb towards a major dynamic resistance. Actually, the dynamic resistance has failed to attract the price, that’s why the sellers are still very strong.

The rate is pressuring some very important support level, that’s why you should stay away because right now we don’t have any trading opportunity.


 

Price moves somehow sideways on the short term after the amazing downside movement. The selling pressure is still very high in the short term. Right now we don’t have any reversal signal, that’s why we need to wait for a confirmation that the rate will start another leg higher.

Price hovers above several support levels, so a rejection from here or a false breakdown will signal a bullish momentum. QWARK/BTC is pressuring the 50% Fibonacci line of the descending pitchfork, the 0.00000939 static support and the lower median line (LML) of the ascending pitchfork.

The false breakout above the sliding line (sl) has sent the price down again. It is almost to reach the first warning line (WL1) of the major descending pitchfork as well, so only a valid breakout above this dynamic resistance and above the sliding line (sl) will really signal a bullish movement.

Conclusion

We’ll have a great buying opportunity if the rate will stay above the 0.00000860 and if it will make a valid breakout above the sliding line (SL) and above the WL1. The first target it will be at the median line (ml) of the descending pitchfork and the second one at the upside 50% line.

Categories
Crypto Market Analysis

Cardano Reversal In Spotlights

 Cardano (ADA)

Market Cap: $5.34B

Circulating Supply: 25.93B ADA

Max Supply: 45B ADA

Volume (24h) $230.28M

Technical Analysis

ADA/USD rallied in yesterday’s trading session and has invalidated the breakdown below the lower median line (LML) of the major ascending pitchfork. The crypto market has bounced back in yesterday’s session and is signalling that the sellers are too exhausted in the short term. However, the ADA/USD could still come back a little to test and retest the support levels before it climbs towards the next upside targets.


 

The corrective phase was natural and it was expected after the failure to stabilise above the median line (ML) of the ascending pitchfork. Personally, I would like to see a consolidation on all major cryptocurrencies before they will really start a larger upside movement. We need a confirmation before we’ll go long again.

Technically, the rate is expected to increase after the false breakdown below the LML of the ascending pitchfork and below the first warning line (wl1) of the minor descending pitchfork. It has escaped from the minor Falling Wedge signalling a reversal in the short term.

Another leg higher will be invalidated only by a valid breakdown below the lower median line (LML). It remains to be seen if it will increase from now or after a minor drop and after a retest of the LML, the warning line (wl1).

Conclusion

You can go long on Cardano (ADA) with a first upside target at the 50% Fibonacci line of the ascending pitchfork. The second target will be at the median line (ML) and the Stop Loss could be placed below the 0.170625 previous low or below the 0.166490 static support. This setup could have a Reward-to-Risk around 3.50.

Categories
Crypto Market Analysis

Santiment Bullish Scenario

Santiment Network Token (SAN)

Market Cap. $75.26M

Circulating Supply: 62.66M SAN

Max Supply: 0 SAN

Volume (24h): $1.17M

Technical Analysis

SAN/USD moves sideways on the short term and seems determined to increase and to recover a little after the last bearish movement. The price developed a triangle chart pattern, so a breakout could bring us a perfect trading opportunity on the short term. Right now you should stay away because it is still under pressure. It is trapped below some very strong dynamic resistance levels, so only a breakout will announce a significant upside movement and will confirm the bullish scenario.



 

The rate dropped again after the breakout above the median line (ML) of the descending pitchfork. It has tested and retested the median line (ML) and now is moving away from it signalling that the bears are exhausted on the short term and that the bulls can step in again. It is still premature to say that we’ll have a sharp increase in the upcoming days.

We could have a great buying opportunity if the rate will make a valid breakout above the downtrend line and above the 1.6630 static resistance. The first bullish signal will be given by the breakout above the upside 50% Fibonacci line (descending dotted line) of the descending pitchfork.

Conclusion

You can go long on SAN/USD after a valid breakout above the downtrend line and outside the descending pitchfork’s body and you can place your Stop Loss somewhere below the former low or below the 0.8350 static support. We’ll have an important upside target at the first warning line (WL1) and another one at the median line (ml) of the ascending pitchfork. A drop below the 0.8350 level will invalidate the bullish scenario.

Categories
Crypto Market Analysis

ETH/USD Losing Altitude

Ethereum (ETH)

Market Cap: $52.26B

Circulating Supply: 99.73M ETH

Max Supply: 0 ETH

Volume (24h) $2.09B

Technical Analysis

ETH/USD plunged in yesterday’s trading session and ignored another downside obstacle. Price registered humble gains today, but you should know that the perspective remains bearish on the short term. The crypto market has started to drop after the minor upside movement and could continue this downside movement because we don’t have any reversal signs.

The rate could increase a little in the short term and could test and retest the broken levels before it will drop further.


 

You can see that the price has retested the sliding parallel line (SL) of the descending pitchfork. It has failed to make a breakout above the confluence area formed between the 50% line with the SL. The price dropped below the first warning line (WL1) of the descending pitchfork and below the lower median line (LML) of the ascending pitchfork signaling a further drop.

ETH/USD could come back to test and retest the broken lines. So, we’ll have a great selling opportunity if the price will stay below the lines mentioned.

The current drop is natural and it was expected after the failure to reach the median line (ML). Right now only a false breakdown below the lower median line (lml) of the ascending pitchfork could invalidate a further drop, but is hard to believe that the buyers could force the rate to increase significantly from here.

Conclusion

The perspective remains bearish on the short term as long as the ETH/USD rate stays below the sliding line (SL) of the descending pitchfork. It could drop towards the 400 psychological level because it should be attracted by the 150% lines in the upcoming period. Only a valid breakout above the SL will signal a reversal.

Categories
Crypto Market Analysis

PARTICL Can Buyers Take Control Again?

 Particl (PART)

Market Cap: $87.60M

Circulating Supply: 8.98M PART

Max Supply: 0 PART

Volume (24h) $1.26M

Technical Analysis

Particl price resumes the downside movement and could reach lows soon as the pressure is very high. PART/USD approaches a very strong support area, so you can keep an eye on this to see how it will react in the upcoming days.

The current drop is natural as the crypto market has turned to the downside again and because the rate has failed to stay above a very strong dynamic support.


 

It was expected to drop further after the breakdown below the lower median line (lml) of the ascending pitchfork. The breakdown below the 150% line has attracted more sellers.

Technically, it is expected to drop towards the first warning line (wl1) of the ascending pitchfork and towards the downside line of the Falling Wedge pattern after the failure to approach and retest the downtrend line.

The rate has signalled that it is losing the bearish momentum in the last days when it has failed to reach and retest the upside 50% Fibonacci line of the descending pitchfork.  However, the bearish bias remains intact as long as the rate continues to stay below the sliding parallel line (SL) of the descending pitchfork.

Conclusion

We may have a buying opportunity if the rate will be rejected by the 8.21276496 static support, if it will stay above the warning line (wl1) and if it will make a valid breakout above the SL of the descending pitchfork. A drop below the mentioned levels will invalidate the bullish scenario.

Categories
Crypto Market Analysis

EOS/BTC Bullish From Above 0.0017

EOS (EOS)

EOS/BTC edged higher today but it is premature to talk about a bullish movement for the upcoming period. We can go long only after a valid breakout above the SL2 of the ascending pitchfork.

Market Cap: $10.57B

Circulating Supply: 877.22M EOS

Max Supply: 1B EOS

Volume (24h): $2.04B

EOS/USD = $11.9681

Technical Analysis

EOS/BTC rallied aggressively today and erased the last day’s drop. It remains to see where it will close the day because the rate has slipped lower in the last two hours. It has increased significantly as the crypto market has rebounded a little today, but you should know that the crypto pair remains under massive selling pressure on the short term.



 

I want to show you a bullish scenario, if the rate will resume today’s rebound, and if it will manage to close and stabilise above the 0.0017000 psychological level.

The corrective phase was natural and normal after the impressive rally and after the false breakout above the upper median line. It has found a very strong resistance right above the 150% Fibonacci line. The price was trapped within a Falling Wedge pattern and now it has managed to escape from this pattern, signalling that the bulls can take the lead again. The breakout needs a confirmation, so we should stay away from this pair for now because we don’t have a buying opportunity yet.

EOS/BTC has broken below the uptrend line, but the today’s increase could invalidate the breakdown and could attract more buyer’s. 

Conclusion

Personally, I believe that the rate could become bullish again if it will make a valid breakout above the SL2, above the 38.2% retracement level and above the median line (ml) of the ascending pitchfork. However, a valid breakdown below the SL1 will open the door for more declines. The major upside target remains at the 0.0019900 previous high.

Categories
Crypto Market Analysis

XMR/BTC – Head and Shoulders Seems To Be Confirmed

Monero (XMR)

Market Cap: $2.70B

Circulating Supply: 16.06M XMR

Max Supply: 0 XMR

Volume (24h) $46.72M

Technical Analysis

The XMR/BTC dropped sharply in yesterday’s trading session and most likely it has validated the Head and Shoulders pattern. You can see that the rate has moved sideways on the Daily chart, but now it has made an aggressive breakdown signaling that it could move towards fresh new lows in the upcoming period.



 

Technically, it should drop significantly if the chart pattern was validated. The price failed to stay above the 0.02369701 static support and now seems determined to go down as the crypto market has started an aggressive bearish movement again. All the important cryptocurrencies are moving down after a temporary rebound.

You can notice that the rate has failed to reach and retest the upper median line (UML) of the descending pitchfork signaling a high selling pressure on the short term. Right now it is pressuring the upside 50% Fibonacci line, but it most likely will close below it and will move towards the median line (ML) of the descending pitchfork.

Technically, it should drop towards the 0.013 level after the breakdown below the neckline. We’ll see what happens, but you should know that the perspective remains bearish as long as the rate stays below the UML and much below the 150% Fibonacci line.

Conclusion

The XMR/BTC is expected to drop further after the yesterday’s amazing sell-off. You can still go short on this and you can place your Stop Loss right above the 0.0257100 former high.

Categories
Crypto Market Analysis

EOS/USD Is The Corrective Phase Completed?

EOS (EOS)

Market Cap: $11.33B

Circulating Supply: 872.87M EOS

Max Supply: 1B EOS

Volume (24h)  $927.61M

Technical Analysis

EOS/USD dropped sharply in the last weeks after making new highs. Price increased as much as 23.0290 on April 29, 2018, but the buyers weren’t strong enough to keep the rate near this historic high. The rate is trading in the red today and resumed the yesterday’s bearish candle. It remains under high selling pressure on the Daily chart, that’s why it is premature to talk about another leg higher.

EOS was one of the best performers in April as it has increased from 5.1000 to 23.0290, but now it is trading at only 12.8080. It remains to see if the crypto will recapture enough directional energy to be able to approach the 23.0290 high. Personally, I want to show you a bullish scenario, if the rate will make a valid breakout in the upcoming period.



 

EOS/USD has found temporary support at the upside 50% Fibonacci line (ascending dotted line) of the ascending pitchfork. It has come higher to retest the upper median line (uml) and now drops again. It seems like it has only made a false breakout above the 50% level, which could announce a further drop towards the 61.8% retracement level and toward the median line (ml).

Right now you should stay away from this crypto because we don’t have a reversal sign. Personally, I want to see a consolidation or another signal that the corrective phase has ended before I’ll go long again.

Conclusion

It remains to be seen where it will find a strong support area. Personally, I believe that only a valid breakout above the 250% Fibonacci line will bring us the chance to go long again on this amazing crypto. The first major upside target will be at the 23.0290 highest high.

Categories
Crypto Market Analysis

INCNT Further Increase Needs Validation

Incent (INCNT)

Market Cap: $17.36M

Circulating Supply: 46.02M INCNT

Max Supply: 0 INCNT

Volume (24h)

Technical Analysis

INCNT/USD continues to stay above some very important dynamic support levels and maintains a bullish perspective in the short term. The price could increase significantly in the upcoming period if it will make a valid breakout above some very important upside targets.

The rate is trapped below some very important resistance levels, that’s why we have to stay away until a further increase will be confirmed by the price action.



 

You can see that the rate was into a corrective phase, but it has found a bottom and a strong support right below the lower median line (lml) of the ascending pitchfork. I’ve drawn an outside sliding parallel line to show you where the crucial support line is. A further increase will be invalidated by a valid breakdown below this line.

You can see that the rate has failed to reach and retest the sliding line (sl) of the ascending pitchfork signalling that the bulls are still present in the game. However, only a valid breakout will be above the 150% Fibonacci line and above the 0.4226

Conclusion

You can go long on INCNT if the rate will jump and will stabilise above the 150% line and above the 0.42260400. The next upside targets will be at the WL1 and at the 50% line. You can place your Stop Loss somewhere below the outside sliding parallel line (SL). A drop below this line will really signal a further drop in the short term.

Categories
Crypto Market Analysis

NEOS/BTC Throwback?

NeosCoin (NEOS)

Market Cap: $10.66M

Circulating Supply: 3.81M NEOS

Max Supply: 0 NEOS

Volume (24H) $292.10K

NEOS/USD = $4.2753

Technical Analysis

NEOS/BTC is trading right above a major support area, that’s why we can think of another rebound soon. It remains to see what will really happen because the rate could drop further and could invalidate a bullish scenario.

The crypto pair has changed little in the short term and after the last two breakout attempts above the near term resistance levels. Right now you should stay away until we’ll really have a confirmation that the rate will increase again.


 

Price moves somehow sideways on the Daily chart and has developed a triangle, but this pattern is far from being complete. The rate hovers above the major support area between the 0.00033923 and the 0.00026639.

NEOS/BTC could turn to the upside as long as it stays above this support zone. It has failed to reach and retest the downside 50% Fibonacci line of the descending pitchfork signalling a minor oversold.

Technically, it should approach the first warning line (WL1) of the ascending pitchfork after the breakdown below the 150% Fibonacci line. So, a test and retest of the WL1 could send the rate higher on the short term, but only a valid breakout above the median line (ml) of the descending pitchfork will signal a broader rebound.

 Conclusion

The price should start another upside movement if the WL1 and the 0.00026639 support levels will hold. A valid breakout above the median line (ml) will signal an increase at least until the upside 50% Fibonacci line and towards the downtrend line.

Categories
Crypto Market Analysis

MTL/USD Symmetrical Triangle?

Metal (MTL)

Market Cap: $86.24M

Circulating Supply: 24.21M MTL

Max Supply: MTL

Volume (24h) $11.89M

Technical Analysis

MTL/USD changed little today and continues to be under pressure on the Daily chart. It approaches a critical support, so a valid breakdown will confirm a further drop. The price has developed an important chart pattern. It remains to see the breakout direction. MTL/USD has made a false breakout in the last days, which could attract more seller’s on the short term.

However, it is premature to say that we’ll have a further drop because anything could change when the rate will touch the dynamic support.


 

It moves sideways on the daily chart, but this range will end soon because it cannot move like this forever. The crypto is trapped within the upside 50% Fibonacci line and the downside 50% Fibonacci line of the descending pitchfork.

Personally, I believe that a rejection from the minor uptrend line and a failure to approach and reach the downside 50% Fibonacci line will signal an oversold and a potential upside movement.

Unfortunately, it has failed to make a valid breakout above the (SL) and above the median line (ml) of the descending pitchfork, signalling that the bears are very strong.

A false breakdown below the downside line of the chart pattern followed by an impressive jump above the median line (ml) and above the outside sliding parallel line (SL) could signal a broader upside movement.

Conclusion

We could buy Metal (MTL) if it will remain within the chart pattern’s body, and if it will stabilise above the median line (ml). We’ll have an important upside target at the warning line (WL1) of the descending pitchfork. However, a valid breakdown from the mentioned triangle will send the rate to at least the 50% line. A valid breakdown below the downside 50% line will give us a great chance to go short.

Categories
Crypto Market Analysis

Can MUE/BTC Start An Important Upside Movement?

MonetaryUnit (MUE) 

Market Cap: $15.52M

Circulating Supply: 131.36M MUE

Max Supply: 4B MUE

Volume (24h) $118.29K

Technical Analysis

MUE/BTC posted humble gains in the last days, signalling that the buyers are still weak.  The price hovers above a major support area, that’s why we can think of another upside movement. The rate is narrowing right now, but I really hope that we’ll have a major move after the breakout from this minor chart pattern.

The rate tested and retested a dynamic support and it has now increased, but it is premature to talk about a larger upside movement at this moment.



 

I’ve drawn an ascending pitchfork hoping that I’ll catch an important upside movement. The rate has come back down to test and retest the lower median line (LML) and now approaches the minor downtrend line. A valid breakout will signal a further increase towards the 50% Fibonacci line and towards the major downtrend line.

However, it remains to see if this sideways movement will be an accumulation or a distribution. Anything could happen right now. The rate could drop significantly if it fails to pass above the minor dynamic resistance.

Personally, I believe that we could have an important upside movement towards the downtrend line as long as the rate stays above the LML. A larger rebound will be confirmed only after a valid breakout above the major downtrend line.

Conclusion

You could go long on MUE/BTC if the rate jumps and it closes above the minor dynamic resistance. You can place a Stop Loss somewhere below the support area.

Categories
Crypto Market Analysis

PAY/USD Inverse Head and Shoulders?

TenX (PAY)

Market Cap: $153.75M

Circulating Supply: 109M PAY

Max Supply: 0 PAY

Volume (24h) $53.58M

 

PAY/USD rallied aggressively today and has reached new highs, but unfortunately, the buyers weren’t strong enough to hold the rate near 1.97956344 today’s high. Price is trading at 1.41913765 right now but is trapped below a crucial dynamic resistance.

The crypto moves somehow sideways on the short term, so we’ll have a significant move after a breakout from this minor range.



 

It is premature to talk about a larger upside movement as long as the rate is trapped below the minor downtrend line. You can see that the rate has found support at the lower median line (LML). The previous retreat was natural after the failure to reach and retest the median line (ML) of the ascending pitchfork.

It remains to see what will happen in the upcoming period because the current rebound could be only temporary after the today’s failure to stay higher. A  further increase could be validated after a valid breakout above the downtrend line, but a major upside movement will be confirmed only after a valid breakout above the median line (ML).

Technically, we could say that the rate has developed an Inverse Head and Shoulders pattern, this could be confirmed only after a valid breakout above the downtrend line which could be considered to be the neckline.

Conclusion

We could go long on PAY/USD if it will make a valid breakout above the downtrend line and if the LML will remain intact. A breakdown below the LML will invalidate a potentially significant increase.

Categories
Crypto Market Analysis

Internet Of People – Another Leg Higher?

Internet of People (IOP)

Market Cap: $6.36M

Circulating Supply: 3.53M IOP

Max Supply: 21M IOP

Volume ($199.96K)

1 IOP=$1.81209

 

Internet Of People Price Prediction: IOP/BTC seems undecided right now and maybe you should be very careful because it could start an aggressive move very soon. The direction remains to be seen, that’s why you should keep an eye on this only to see a confirmation.

Price is somehow expected to increase in the upcoming period after the breakout above the downtrend line and above a very important dynamic resistance. Personally, I would like to see a minor consolidation here before I will make a decision.



 

The pair is located right above a major support area and above the lower median line (LML) of the red ascending pitchfork, that’s why it should climb higher as long as it will stay within the ascending pitchfork’s body.

The false breakdown below the lower median line (LML) could attract more buyers, which will drive the rate towards fresh new highs. You can see that the rate has failed to retest the broken downtrend line, signalling that the bulls can take the lead again.

It has also failed to reach and retest the 0.00016832 static support, that’s why we could think of another bullish movement. The next upside target will be at the second warning line (wl2) of the descending pitchfork, it could also be attracted by the 50% Fibonacci line and by the median line (ML).

Conclusion

We may have a great buying opportunity after a retest of the LML or after a failure to retest this dynamic support. You can place your Stop Loss somewhere below the LML and below the 0.00016832 static support.

 

Categories
Crypto Market Analysis

INCNT/BTC – Can We Buy It?

 Incent (INCNT)

Market Cap: $15.13M

Circulating Supply: 46.02M INCNT

Max Supply: 0 INCNT

Volume (24h) $45.70K

 

Price is trading in the red right now and is about to reach a very strong dynamic support again. INCNT/BTC erased yesterday’s impressive gains signalling that it continues to remain under massive selling pressure.

The outlook remains bullish on the Daily chart despite the current drop. INCNT/BTC could still increase if the rate will be rejected by the near term dynamic support. The uptrend is still unharmed, that’s why I’ve said that it could increase.



 

The next few days will be crucial because a breakdown will attract more sellers. A false breakdown or a rejecting from the uptrend line will send the rate towards the inside sliding line (SL) of the descending pitchfork. It could take this out if it will close on it.

Only a valid breakout above the sliding line (SL) will announce an important upside movement. Personally, I believe that a breakout above the sliding line (SL) will send the rate much above the UML. So, the bias will remain bullish as long as the rate stays above the uptrend line.

INCNT/BTC failed to retest the 50% Fibonacci line (descending dotted line) signalling that this could be only a temporary drop.

Incent Price Chart (INCNT/BTC)Conclusion

It will increase further if it will stay above the uptrend line. A valid breakout from the descending pitchfork will bring us a great chance to go long on it with an upside target at the WL1.

Categories
Crypto Market Analysis

Binance Coin On The Move

Binance Coin (BNB)

Market Cap: $1.48

Circulating Supply: 114.04M BNB

Max Supply 0 BNB

Volume (24h) $61.33M

 

 

Binance Coin Price Analysis: BNB/USD dropped and resumed yesterday’s bearish candle. It should drop further if the rate will close below the broken dynamic support levels. The price may resume the bearish movement without a retest of the broken downside obstacles.

You can see (https://www.forex.academy/binance-coin-could-we-sell-this/) where I’ve signalled a bearish movement since May 3, 2018. BNB/USD has managed to break below the warning line (WL1) of the ascending pitchfork, but more importantly, it was the failure to retest the broken line. It has retested only the inside sliding parallel line (SL), but it has closed a lot below it, signalling a bearish pressure.



 

The rate should drop at least until the downside of 50% Fibonacci line, as long as it will stay below the median line (ML). We have an important downside target at the lower median line (LML) of the descending pitchfork. It will approach and reach the second target only if the crypto market will resume the down move.

BNB/USD could try to test and retest the broken levels before it will drop towards the mentioned targets. A further drop will be invalidated only by a valid breakout above the sliding line (SL). Personally, I believe that it could take out the resistance from the SL if we will close on it.

Conclusion

If you want to go short, you should place a Stop Loss right above the 15.1822017 former high. Tomorrow will be crucial because an aggressive rally could invalidate this trade setup.

Categories
Crypto Market Analysis

Zcash – Sell A Retest

Zcash (ZEC)

Market Cap: $947.69

Circulating Supply: 3.89M ZEC

Max Supply: 0 ZEC

Volume (24h) $60.13M

 

ZEC/USD dropped significantly in the last days as expected. The current drop is somehow natural after the false breakout above the downtrend line and after the failure to approach and reach the 50% Fibonacci line again.

The cryptocurrencies are into a down move again after the short-term rebound. Please read my analysis on this crypto (Zcash breakout still in cards) and you’ll notice that I’ve said that the rate will maintain a bullish perspective only if it will stay within the ascending pitchfork’s body, and if it will make a valid breakout from the chart pattern.



 

The false breakout above the downtrend line has invalidated a further increase and has signalled a reversal on the short term. ZEC/USD is pressuring the lower median line (LML) of the ascending pitchfork. The breakdown needs confirmation, so only a retest of the broken dynamic support will confirm a further drop.

The price could make a sharp drop from now, but it should turn back towards the LML to retest it. A great selling opportunity will appear after a retest of the LML and maybe after a false breakout above the LML followed by a significant drop.

ZEC/USD is expected to drop further if the other major cryptocurrencies will resume the bearish movement.

Conclusion

ZEC/USD is under massive selling pressure and could reach fresh new lows without a retest of the broken LML. You’ll have a great selling opportunity if the rate will come back to retest the broken dynamic because you could place your Stop Loss above a lower high. The next downside target will be at the 173.02 and at the 150% Fibonacci line.

Categories
Crypto Market Analysis

OmiseGO Bullish Scenario

OmiseGO (OMG)

Market Cap: $1.65B

Circulating Supply: 102.04M OMG

Max Supply: 0 OMG

Volume (24h) $44.06M

 

OMG/USD is trading in the red on the Daily chart and could resume the corrective phase in the short term. I want to show you a bullish opportunity if the near-term support levels will hold and if it will reject the price.

The crypto is under massive selling pressure on the short term, but a false breakdown below the near-term support levels followed by an important rally will signal that it could increase at least till the 20.0000 psychological level.


 

The rate dropped after the failure to reach the median line (ml) of the ascending pitchfork and after its failure to stabilize above the 50% Fibonacci line of the ascending pitchfork. OMG/USD is pressuring the 38.2% retracement level and could pressure the lower median line (lml) as well very soon.

Personally, I believe that the OmiseGO perspective remains bullish on the short term as long as the rate will stay within the ascending pitchfork’s body. You should know that a valid breakdown below the lower median line will attract more sellers which will send the rate much lower.

It will be very important for the price to make only a false breakdown below the lower median line (lml) and to get back within the ascending pitchfork’s body and above the 38.2% retracement level.

Conclusion

You should stay away for now and wait for a confirmation that the price will increase again after the corrective phase. We’ll have a great buying opportunity if the rate will stay above the lower median line (lml) and only if it will make a valid breakout above the 150% Fibonacci line (descending dotted line).

Categories
Crypto Market Analysis

XMR/BTC Hovers Above Critical Support

XMR/BTC has developed a Head and Shoulders pattern, but we still need the confirmation. What are the perspectives now? Can we sell this crypto pair?

Monero (XMR)

Market Cap: $3.70B

Circulating Supply: 16.02M XMR

Max Supply: 0 XMR

Volume (24h) $32.97M

XMR/USD = $231.03

 

The XMR/BTC is trading into a strong support area. The price increased today and is trying to reach the 0.02505000 yesterday’s high. It remains to see what will really happen in the upcoming period because it looks like the rate has developed a Head and Shoulders chart pattern.

The rate moves sideways on the short term, so we’ll have a clear direction only after a valid breakout from this pattern.



 

XMR/BTC has found a temporary support on the 50% Fibonacci line and on the 0.023 static support. It could increase a little and could try to retest the upper median line (UML) of the descending pitchfork. A valid breakdown below the 0.023 area could validate the Head and Shoulders pattern.

The crypto pair will drop towards the 0.016 if this scenario will take shape. Price could drop as long as it stays below the 150% Fibonacci line.

Personally, I believe that the rate will take out the resistance from the 150% Fibonacci line if it will touch it. We could think of another trading opportunity if the Head and Shoulder pattern will be invalidated and if the rate will make a valid breakout above the 150% Fibonacci line. The price should rally from above the 150% Fibonacci line targeting the 0.03234574 static resistance.

Conclusion

We’ll have a great selling opportunity if the Head and Shoulders is confirmed and as long as it stays far away from the 150% Fibonacci line. However, a valid breakout above the 150% Fibonacci line will send the rate at least up to its former highs.

Categories
Crypto Market Analysis

Is This Really The End Of The Crypto Market Rebound?

The Crypto Market Rebound: The crypto market has reached an important supply area and now has turned to the downside again. It remains to see how larger the corrective phase will be. Technically, a minor decrease was expected on all cryptocurrencies after the impressive upside movement.

There are all kinds of rumours that said that the crypto market will crash again and will reach fresh new lows. Personally, I still believe that the major cryptocurrencies could resume the upside movement and could reach fresh new highs.

Please take a look at one of my editorials (Is the crypto market sell-off natural?), and you will notice that I have talked about a correction on the cryptocurrencies. The rates need to accumulate more directional energy to be able to resume the upside movement.

All main cryptocurrencies have started an important rebound in the short term, but we still need a confirmation that may increase in the medium to the long-term again. That is why we need a corrective phase followed by an accumulation or maybe an extended sideways movement before we can say for sure that we may have a major upside movement.

I believe that the next major upside movement will be slower because the fundamental factors are very strong. We may have a rough period on the crypto market with all the regulation talks.

You should know that some cryptocurrencies could drop significantly and could die even if the crypto market returns to its bullish condition because not all projects are viable. The cryptocurrencies were driven higher by the bullishness of the overall crypto market, but this could change in the future.

Bitcoin


 

Bitcoin dropped after another false breakout above the 50% Fibonacci line and after the failure to close above the third warning line. The price will drop much more only if will close and will stabilize below the sliding line (SL1). The rate could move towards the lower median line (LML) and towards the outside sliding line (SL) if the WL3 resistance will hold.

A further increase will be invalidated only by a drop below the outside sliding line (SL). However, we could go long on this crypto after a valid breakout above the WL3 and above the 50% Fibonacci line.

Ethereum


Ethereum has declined after the failure to reach the median line (ML) of the ascending pitchfork. The drop was somehow expected after the impressive breakout above the first warning line (WL1) of the descending pitchfork. The price has come back down to retest the broken WL1 of the descending pitchfork and now could increase again.

We may have another bullish movement as long as the rate stays above the WL1 and the 50% Fibonacci line (ascending dotted line). You should know that we will have a larger upside movement only after a valid breakout above the median line (ML).

Conclusion

You have noticed that the minor retreats were natural in the short term. Right now you don’t have to worry that the crypto market will crash again. Personally, I believe that only the fundamental factors could send the major cryptocurrencies down again. Otherwise, they should push up in the upcoming period.