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  • [IMPORTANT] Analisa Cryptocurrency

    Ether in Downtrend After Major Losses


    It’s been tough two weeks for Ether. Since our last update, the fledgling crypto-currency lost over 26 percent versus bitcoin and even more versus the US Dollar.


    Ether in Downtrend After Losses


    After the recent large losses, ETH/BTC is now in a downtrend. The altcoin lost close to 30 percent versus the US Dollar and 26 percent versus bitcoin.





    Support on the way down can be found at this month’s low of 0.07574, followed by the 0.0631 swing low and the 0.05 round figure. On the way up we have resistance at the 0.10 round figure. A clean breakout above 0.11 BTC would end the current downtrend. A move above the 0.1259 swing high is needed for a new rally. On the long-term charts (weekly and monthly) ETH/BTC remains in a bullish trend.


    Fundamentally no major news transpired during the past few weeks. It’s possible that the flurry of ICOs during June is now leading to selling pressure. Two major ICOs, Status and Tezos, stated that they plan to sell the acquired Ether, albeit at a gradual pace.


    Another Unsuccessful Breakout in Dash


    Dash Prices are back in a range after yet another unsuccessful breakout, the third one in a row. On July 6th DASH/BTC peaked to a high of 0.08697. Three days later a low of 0.06674 was hit. We are currently quoted somewhat in the middle at 0.07285 BTC per coin.





    A new rally requires a decisive breakout above the high at 0.087 BTC. Yes, we already had 3 failed attempts to go higher. But with each failed test we get closer to a potential trend starter. For us it doesn’t matter which way the market moves. A break below the 0.0606 swing low would start a new downtrend while a move above 0.08748 could start an uptrend. In either case, following the market should pay off over the long-haul. On the long-term charts Dash/BTC is looking bullish as well.


    Bitcoin Remains in a Range


    A crypto update is not complete without mentioned big brother. Bitcoin is still stuck in a range on the daily charts. The two levels to watch are $2,245 on the downside and $2,700 on the upside. A clean break above either of these price extremes could start a new trend lower/higher. On the long-term charts BTC/USD is in rally mode, just like ETH/BTC and Dash/BTC.


    Open a Crypto Account and start trading with FXOpen.




    Source: FXOpen blog

  • #2
    Litecoin Rallies 21 Percent From Lows

    Litecoin followed big brother bitcoin, first lower then higher. On July 16th a low of $35.30 was hit, followed by a 21% rally to $42.89 the next day. Today we are trading a bit below the highs at $41.88 dollars per coin.



    Unfortunately for the bulls, the sharp 35% decline from $54 to a low of $35.30 was enough to trigger the end to the uptrend. A new bullish market (on the daily charts) requires a break above the $54 dollars all-time highs. On the other hand, a breakdown below this month’s swing low at $35.30 would start a new LTC downtrend. Weak support below here can be found at $35, followed by $30 round figure. We have a bit stronger support area around $26 dollars per coin. A clearing of this area could lead to more losses.

    To the upside we have weak resistance at the $47.39 swing high, followed by the $50 round figure and of course, the $54 dollars all-time high. On the long-term weekly and monthly charts, LTC/USD remains in rally mode.

    Source: FXOpen blog

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    • #3
      Bitcoin Tests Important Support

      The meltdown in crypto prices continues, with many of the top 20 altcoins hitting drawdowns of over 50 percent from the highs. Luckily the two coins we follow on Tuesdays have so far avoided this fate. Bitcoin is down by ‘only’ 21 percent from the highs while LTC/USD is down by just over 17 percent.

      Bitcoin Bounces at Important Support

      Bitcoin tested the important support at $2,250 today. By the looks of things, the first try was unsuccessful for the bears. Prices dipped to a low of $2,245 on FXOpen today and stayed there for a grand total of 1 minute before bouncing back above the $2,250 mark. Soon after we had a major rally of $139 dollars to hit a high of $2,384. We have since fallen back a bit to $2,331 dollars per coin.



      Bitcoin is not in a downtrend, not yet anyway. We look for a decisive breakout of important levels like $2,250, not shallow and brief spikes below like the one we had today. It remains to be seen if the bears make another attempt for the lows in the next few days.

      For now, we are back in ‘wait and see’ mode. The levels to watch are $2,245 on the downside and $2,700 on the upside. A clean breakout beyond either of these price extremes could end the stalemate and start a new trend. This is the view on the daily charts. On the weekly and the monthlies, the bullish trend is still intact.

      Source: FXOpen blog

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      • #4
        Ether Stays in Downtrend

        Ether continues its slow downward trend. It’s currently quoted at 0.07873, down from 0.08875 during our last update. This is a fall of 11.3 percent.



        As you can see on the chart above, it wasn’t smooth sailing for the shorts. Prices initially spiked to a high of 0.0111 on July 18th. This is the date when a list of new EEA members was revealed to the public. Notable names among the list include MasterCard, Cisco, and ScotiaBank. The news spike hit our potential trend-ending level at 0.011 but there was no clean break, only a 0.0001 tick above. Thus the downward trend remains on the daily charts.

        The bulls still need a decisive break above 0.011 to end the current bear phase. A breakout here would start a new uptrend as well. On the longer-term weekly and monthly charts, ETH/BTC remains in rally mode.

        Source: FXOpen blog

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        • #5
          No Progress for BTC/USD as Fork Fears Reemerge

          Since our last update a few days ago BTC/USD prices remained mostly range-bound. Initially, it looked like we may break the important $3,000 handle but after fork fears reappeared prices took a nosedive today.

          Bitcoin Ranges as Fork Fears Reemerge

          Bitcoin is quoted at $2,546 dollars per coin right now, slightly down from the $2,558 handle noted in our last update. Volatility has been high though and during this time we hit a high of $2,750 and a low of $2,523.



          Technically the trend on the daily charts is still up. To end it the bears will need to take us below this month’s low at $1,812. A break of this important level would also start a new downtrend. On the weekly and monthly charts, the trend remains up.

          Fundamentally, fork fears took center stage again during the past few days. A UAHF (User Activated Hard Fork) called bitcoin cash will launch on August 1st. The code is mostly the same as the current bitcoin, with an added blocksize increase to 8 MB. Exchange VIABTC listed a futures contract of Bitcoin Cash (BCC). It is currently trading at 3,030 Yuan for one coin or about $449 at current exchange rates.

          It is rumored that BCC is a ‘backup bitcoin’ for some Chinese miners who fear that the 2 MB hard fork part of the Segwit2x code won’t be honored 3 months down the line. More on the technical details about Segwit2x HERE. More on bitcoin cash and the future implications for BTC holders HERE.

          Start trading bitcoin with FXOpen broker.

          Source: FXOpen blog

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          • #6
            Bitcoin Falls on BTC-E Outage, Recovers

            Bitcoin prices continued to fall during the two days since our last update. Popular crypto exchange BTC-E announced an ‘unplanned database maintenance’ on July 25th. One day after it became apparent that the reason for the outage was the arrest of Alexander Vinnik. More on this developing story HERE.

            Lots of questions with potential market moving impact remain unanswered. Who has the private keys to the users’ coins now? When will they get them back? Will US authorities take down the site as well? The DOJ imposed a hefty 110 million dollars fine on BTC-E. Does the site have enough money to cover the fine and stay in business? The latest tweet on the official twitter accounts says that they will be back in 5-10 days.



            As you can see on the chart above, the market reaction was a classic V-shaped reversal pattern. First, we got a small crash to $2,401 followed by a rally to a high of $2,594. We are currently quoted at $2,587 dollars per coin. The uptrend remains intact and the bears will need a break below the $2,100 level to end it. A new downtrend requires a breakdown below this month’s low at $1,812. On the long-term charts, BTC/USD is still looking bullish.

            Source: FXOpen blog

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            • #7
              Bitcoin price managed to breach 2713.32 level and hold above it, which reactive the bullish trend scenario on the short term and medium term basis, paving the way to head towards the previously recorded top at 2980.00 as a first main station.

              On the other hand, we notice that the recent trades are confined inside bullish pennant pattern that appears on chart, which means that breaching 2790.00 will provide good positive motive that reinforces the expectations of continuing the bullish trend in the upcoming period.

              Therefore, we believe that the chances are valid to continue the main bullish trend, supported by stochastic and the EMA50 positivity, noting that breaking 2548.34 will stop the positive scenario and push the price to decline again.

              Expected trading range for today is between 2548.34 support and 2980.00 resistance

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              • #8
                Litecoin Drops, Rallies After Fork

                Litecoin prices fell to a low of $38.11 on July 31st as alts got sold across the board to get BTC and thereby free BCC. With the appearance of the LTC creator Charlie Lee on CNBC we hit a floor in the litecoin rate about day earlier than most altcoins. Prices spiked on July 31st after the interview to $43 dollars per coin and have stayed there ever since.



                Litecoin remains in a range on the daily charts. A new rally requires a break above $46.70 dollars while a new downtrend needs a move below the $35.45 swing lows. On the longer-term weekly and monthly charts LTC/USD is still looking bullish.

                Source: FXOpen blog

                Start crypto trading with FXOpen.

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                • #9
                  The long-anticipated bitcoin fork finally happened today. Prices first rallied going into the event only to drop few hours before the split. Alts followed a reverse pattern with losses pre-fork and large gains shortly after.

                  Bitcoin Forks, Prices Drop From Highs


                  Bitcoin prices hit a high of $2,892 on FXOpen today just hours before the BCC hard fork. Soon after, however, we saw a large crash of over $200 in less than four hours.



                  Before we go let’s recap what’s going on here for our newer readers. A UAHF (User Activated Hard Fork) called bitcoin cash launched on August 1st. The code is mostly the same as the current bitcoin, with an added blocksize increase to 8 MB. Exchange VIABTC (and others) now allow trading of Bitcoin Cash (BCC).

                  It is rumored that BCC is a ‘backup bitcoin’ for some Chinese miners who fear that the 2 MB hard fork part of the Segwit2x code won’t be honored 3 months down the line. More on the technical details about Segwit2x HERE. More on bitcoin cash and the future implications for BTC holders HERE.

                  Now let’s get back to the charts! It appears that the size of the drop was similar to the ‘dividend’ in the form of free BCC for every BTC holder. Before the fork, bitcoin cash (BCC) was trading at 1 to 10 ratio to regular BTC, implying a value of close to $290 dollars at the highs.

                  Technically we’re still in an uptrend on the daily charts. To end it the bears will have to push us below the $2,400 swing low. A new downtrend, however, requires a breakdown below the July lows at $1,812 dollars. On the long-term charts BTC/USD is also in an uptrend.

                  Source: FXOpen blog

                  Start crypto trading with FXOpen.

                  Comment


                  • #10
                    USDT\LTC
                    Litecoin is also growing a bit insecure. The price failed to settle or form a full-fledged correction. Instead, we see is a sharp decline. This suggests the demand level is not high enough. The volume of pending orders proves the point.

                    USDT_LTC

                    Litecoin price needs settling, which will indicate prominent demand volume. The current upward structure may be broken with a downward turn in the $41 area. This is the point responsible for the entire upward trend structure from $38.

                    Comment


                    • #11
                      Ethereum price continues to build up the uptrend structure confidently. There has been a significant increase in demand around $200. This allowed the price to stay after the breakdown of the key level at the $220 area.

                      USDT_ETH

                      An upward trend from $176 will continue until its structure is broken. Breaking it would mean that the advantage is with the bears. At the moment, it might take place at around $210. If a large buyer keeps his positions at this trend, then after a pullback to this zone, we’ll see a rebound and the growth will continue. Otherwise, Ethereum price will form a downward turn.

                      Comment


                      • #12
                        Bitcoin Still in Uptrend

                        No crypto update is complete without big brother bitcoin. The number one crypto is still holding strong at $2,748, way above the potentially trend-ending level at $2,400. Not much has happened since our last update on Tuesday, with prices in ‘wait and see’ mode after the fork. We’re currently quoted higher by around 1% since then.

                        The key levels to keep an eye on are $3,000 on the upside and $2,400 on the downside. A decisive break below $2,400 would end the trend on the daily charts. On the other hand, a breakout above the $3,000 round figure could reignite the ‘FOMO‘ and lead to more gains. On the long-term weekly and monthly charts BTC/USD is in a bullish trend.

                        Source: FXOpen blog

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                        • #13
                          Ether Slightly Up, Dash Range-bound

                          It’s a mixed bag this Thursday for Ether and Dash. While Ether is trading a bit higher since our update last week, Dash continues to range.

                          Ether Bounces From Lows

                          Ether prices versus bitcoin bounced from the 0.058 lows on FXOpen to 0.081 right now. The lows on other exchanges were around the 0.066 level.



                          Despite the bounce, however, we’re still in a downtrend on the daily charts. The bulls need a break above the 0.0844 swing high to end the current trend. A new rally requires a break of the 0.111 spike high as well. On the long-term weekly and monthly charts ETH/BTC is still looking bullish.

                          Dash Range-bound

                          We haven’t done a Dash update in a while due to lots of developments in the bitcoin space. Nonetheless, you haven’t missed much as prices here are still in a range. On the chart below we can see that DSH/BTC spent most of the past two months stuck between 0.06 and 0.08134.



                          These remain as the two key levels for this pair. A decisive breakout above 0.08134 should start a new Dash rally. Note that, as usual, we’re looking for a sustained break of this price level and not just a brief and shallow spike above.

                          A new downtrend needs a break below the strong support at 0.06 BTC. This level got tested twice already (at 0.0606 and 0.0602) on the daily charts and held strong so far. A clean break below here could lead to more gains to the 0.05 round figure and even below. On the long-term charts DSH/BTC is in rally mode as well.

                          Source: FXOpen blog

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                          • #14
                            Litecoin Hits Resistance

                            Litecoin tried to follow big brother bitcoin higher but quickly hit a resistance level. Last week we hinted at $46.70 as a point where a new rally could begin. Unfortunately for the bulls, the break of this level was weak as we only hit a high of $47.22 before falling back.



                            Now we’re looking for a break of the new high ($47.22) as a potential trend starter. As usual, we’re looking for a sustained move above this level, not just a brief and shallow spike. Resistance higher up can be found at the $50 round figure, followed by the $51.27 and $53.87 swing highs. A break of the $53.87 all-time high could extend the move higher.

                            On the lower end, the bears will need a break below the $38.11 swing low. A clean move below here could start a new downtrend in prices. Support below here can be found at the $35.45 swing low, closely followed by the $35 round figure and the $34.42 swing low. A move below this support area would clear the way for more LTC losses. Despite the muddled picture on the daily, on the longer-term charts, Litecoin is still looking bullish.

                            Source: FXOpen blog

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                            • #15
                              Bitcoin Rallies Into Segwit Lock

                              Bitcoin prices rallied close to 24 percent in a week. The main driver for the gains seems to be the Segwit lock, expected to happen later today. Current projections set the lock at 25 blocks from now, around 17:46 GMT.



                              The ‘lock in’, just like the name says, is when Segwit gets locked in. Two weeks from this date the Segwit part of the Segwit2x upgrade becomes active. More on the technical details about Segwit2x HERE.

                              Today could produce some violent swings, similar to what we saw during the BIP91 activation a few weeks ago. It appears that some traders are already booking profits before the lock is final, fearing a similar decline. Looking at bitcoin from the daily charts however allows us to avoid some of this noise.

                              We are currently trading near all-time highs at $3,383, down from $3,491 this morning. Support below here can be found at the round $3,000 figure, closely followed by the $2,892 swing high and the $2,597 swing low. A decisive break below here would end the current bullish trend. Further down we have more support at $2,400, $2,000 and $1,812 dollars per coin. A break below $2,200 would start a new BTC downtrend. On the long-term weekly and monthly charts, BTC/USD is in rally mode as well.

                              Source: FXOpen blog

                              Start cryptocurrency trading with FXOpen

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