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Crypto-analysis

Bitcoin hits $5,000 as cryptocurrency market bulls returnBitcoin bulls return Bitcoin surged above the $5,000 resistance level this week as the market capitalization of the entire digital currency market reached its highest level of the year so far. Bitcoin moved above its 200-day moving average for the first time since May 2018, as the BTCUSD pair advanced towards the $5,300 level before correcting lower, as traders booked profits from overstretched levels. Bitcoin had spent much of the last trading month consolidating in a narrow price range between the $3,800 to $,4,000 level prior to its strong technical breakout above the $4,200 level. • The BTCUSD pair is only bearish while trading below the $4,200 level, key support is found at the $4,100 and $4,000 levels. • If the BTCUSD pair trades above the $4,400 level, buyers may test towards the $5,300 and $6,000 resistance levels. RBA turning dovish The Australian dollar moved lower against the US dollar and the Japanese yen currency following the release of the Reserve Bank of Australia interest rate statement. The RBA maintained interest at record low levels as widely expected, with the central bank issuing more dovish forward policy guidance. The RBA noted that domestic risks in the global and domestic economy continue to be the main areas of concern for Australian policymakers. Financial market participants are now speculating that RBA will slash interest rates as soon as August this year. • The AUDUSD pair is bearish while trading below the 0.7245 level, key support is found at the 0.7030 and 0.6930 levels. • If the AUDUSD pair trades above the 0.7245 level, buyers may test towards the 0.7310 and 0.7380 resistance levels. Brexit wrangling The British pound moved higher against the greenback this week as British Prime Minter Theresa May lost control of Brexit. UK Parliament voted to take power away from PM May over key Brexit decisions, as she failed to find a clear resolution to the United Kingdom’s departure from the EU. Markets cheered the move by UK Parliament, to take control of Brexit, as traders and investors perceived that the chances of a no-deal Brexit have now decreased. The GBPUSD pair advanced towards the 1.3200 level, after briefly dipping towards the 1.3000 level in early week trading. • The GBPUSD pair is only bearish while trading below the 1.3100 level, key support is found at the 1.2975 and 1.2660 levels. • If the GBPUSD pair trades above the 1.3100 level, key resistance is found at the 1.3200 and 1.3270 levels. Litecoin rally Litecoin performed its strongest weekly advance since February 2018 this week, as the surge in the value of Bitcoin provoked a wave of buying towards other digital assets. Litecoin advanced towards the $100.00 level, with the fifth largest cryptocurrency by market capitalization adding close to fifty percent in value. Ethereum also posted strong double-digit gains, with the second largest cryptocurrency moving towards the $180.00 level, after starting the month of April close to the pivotal $140.00 level. • The LTCUSD pair is only bullish while trading below the $56.00 level, key resistance is found at the $100.00 and $120.00 levels. • If the LTCUSD pair trades below the $56.00 level, sellers may test towards the $50.00 and $42.00 support levels.
BITFINEX:LTCUSD
by OctaFX_Official
Single currency slumps as eurozone growth forecasts loweredEurozone growth falters The euro currency moved sharply lower this week after the European Commission downgraded eurozone growth expectations and the German economy posted more weaker than expected economic data. The EC lowered eurozone growth forecasted to 1.3 per cent in 2019 after previously expected the European economy to grow by 1.9 per cent this year. Germany, the economic engine of the eurozone posted more weak data as it felt the effects of the slowdown underway in the global economy. Official data showed German Factory Orders tumbling by -7.0 per cent on a year-on-year basis, while also posting a worse than expected -1.6 per cent decline during December. The euro currency declined sharply lower against the greenback after the news that the ECB slashed its growth forecasts, with the EURUSD pair relinquishing most of its early-year gains. ∙ The EURUSD pair is strongly bearish while trading below the 1.1300 level, key support is found at the 1.1260 and 1.1215 levels. ∙ If the EURUSD pair trades above the 1.1410 level, further upside towards the 1.1460 and 1.1570 levels remains possible. Sterling rocked The British pound fell sharply lower against the US dollar this week after the United Kingdom economy posted much weaker than expected PMI Services data and the Bank of England lowered UK growth forecasts for 2019. The UK economy posted its worst PMI Services reading in over two years this week, as Brexit fears stopped UK companies from making important decisions. Further bad news came from the Bank of England, who kept interest rates on hold and significantly downgraded the United Kingdom’s growth prospects for 2019. The GBPUSD pair fell below the 1.2900 level but later recovered as positive headlines came from British PM Theresa May’s latest Brexit talks with EU officials in Brussels. ∙ The GBPUSD pair is only bullish while trading above the 1.3000 level, key resistance is found at the 1.3095 and 1.3205 levels. ∙ If the GBPUSD pair trades below the 1.3000 level, sellers may test towards the 1.2800 and 1.2740 levels. Aussie pressured The Australian dollar fell sharply lower against the US dollar this week after RBA Governor Phillip Lowe changed his language towards future rate increases. Governor Lowe said that the Reserve Bank of Australian has a balanced view towards future rate increases, after previously stating that the next rate move would likely be higher. The AUDUSD pair tumbled, as the change in policy language was taken as a sign that Reserve Bank of Australia officials are turning more bearish on the Australian economy. The Reserve Bank of Australia kept interest rates on hold this week as widely expected and acknowledged slowing global growth and pressures in the domestic property market. ∙ The AUDUSD pair is bearish while trading below the 0.7220 level, key support is found at the 0.7000 and 0.6930 levels. ∙ If the AUDUSD pair trades above the 0.7220 level, buyers may test towards the 0.7270 and 0.7300 resistance levels. Cryptocurrencies drift lower The market capitalization of the entire cryptocurrency market moved to a fresh 2019 trading low this week, as digital currency giants Bitcoin, Ripple and Etheruem remained under downside pressure. The top-three cryptocurrencies make up a significant portion of the cryptocurrency market cap, with Bitcoin accounting for over fifty per cent of the entire cryptocurrency market. The number one cryptocurrency continued to fall toward its 2018 trading low, while Ethereum slumped to a fresh 2019 trading low, as the ETHUSD pair briefly tumbled below the $100.00 level. ∙ The BTCUSD pair is only bullish while trading above the $3,660 level, key resistance is found at the $4,000 and $4,440 level. ∙ If the BTCUSD pair declines below the $3,120 level, sellers may test towards the $2,800 and $2,500 support levels.
by OctaFX_Official
ETH About to Collapse - Weekly Analysis - ETHBTCHello guys I'm starting a weekly analysis on the top 10 marketcap cryptocurrencies. Here is for ETHBTC. Ethereum is about to collapse under its own weigth. Volume simply isn't here, on Binance, the exchange where ETH is most traded. Also the RSI is looking downwards right now, while price action is staying flat. I expect we drop further to around 0.02 BTC before bouncing back up, but heh, I could be wrong. That's all for today. I might update this idea in the next days so you should follow me if you don't want to miss it. Feel free to comment your opinion and thoughts ! -------------------------------------------------------------------------------------------------------------- My Website - Automated Strategies with Backtest and Alert Setup Accepting commissions : TradingView pinescript development, reverse engineering
Short
by cyatophilum
2
XRP Extremely BullishNot much to say that the chart cannot say by itself. - XRP has broken successfully on April 12 the big falling wedge and find support on the $0.62 - $0.64 area. - It formed a Bullish Flag Pennant on the 4hr chart, that has already been broken to the upside, next target is around the $0.88 area, which is the potential upside of the flag pennant pole. - The $0.88 area is also the .786 Fibo level (on yellow) of the overall trend, and is a consolidation zone of the past (21 Feb - 03 Mar, marked with the purple box). We can expect XRP to continue the bullish run if we can do it trough the $0.90 area in the short term. Trade safely.
KRAKEN:XRPUSDLong
by Pepe0722
NEOBTC: beginning of the fifth wavee price of NEOBTC has reached the 65.8% Fibo level of previous third wave, wich can indicate the end of the 4th wave. Taking this into account, we can expect the 5th wave to start. The price close above EMA100 and psycological level of 0.010000 can trigger a bullish impulse. This movement can be described as a sub wave of the global 5th wave, the target for which will be the level of 0.018844 - 0.020970. An optimal level to open long position is an end of 2d sub wave, which should reach 61.8% of the 1st wave. Waiting for the 1st wave to end.
Long
by TSI_Analytics
Bitcoin (BTC) Analysis LT and ST Okay, here is my first Bitcoin analysis. Not that there aren't enough out there but I just had some time to practice my theoretical knowledge with some practical work. The head and shoulders formation did not work out YET. We would see (hopefully not) a failed H&S formation, if we dip below the through of $6000. It seems like we found a new bottom at around $7240 and are currently in an ascending triangle (the blue lines on my chart). Since nothing in Cryptocurrency is impossible, I believe there is still a chance to break the newly formed support line and even see new lows. For now the market shows some strength which probably has fundemental reasons. Based on my cyclic analysis I predict a new dip between April and May. But as stated, Crypto World is crazy. Let's take a closer look in my next TA.
BITFINEX:BTCUSDLong
by mulugulu91
2
BITCOIN 13TH MARCH LATE EVENING DETAILED ANALYSISWith the bearish flag forming and holding as a strong support, bouncing many times. I personally believe that a strong downward movement is imminent as it cannot continue to hold. Each time it attempts to uptrend the 55 ema (yellow line) acts as a strong resistance. The RSI is forming a symmetrical triangle which is also a sign a large movement in price could occur however doesn't have a bias to up or down. I'm targeting a 1:1 Fibonacci extension of the 1st wave down to reach wave 3, at the moment it's moving sideways, however, this is due to the bearish flag. The 5th wave down is targeted at 1.618 Fibonacci extensions of wave 1; this travels just past the 0.618 Fibonacci retracements of the 5 step impulse wave up. This is the golden ratio where the price likes to drop to as many traders use this level. Between these levels is the support of wave 2 which adds even more strength to this zone Long term I remain bullish as if it corrects this far, 0.618 is a normal correction and an impulsive wave up may be next. Up to 13400 USD (From a 1:1 extension of wave 1, as wave 3 is often the longest and never the shortest) and after a correction, a move to 17000 USD is definitely possible. Of course, the flag may not break and if the price goes above 9750 USD with the volume I would discount this play and the bullish count will be more plausible. If you want to know the shorts I'm playing, let me know :) PEACE, LOVE & CRYPTO
COINBASE:BTCUSD
by nathanwelch
Be aware of these scenariosI have announced a crash that may not happen. It all depends on the situation. Sometimes you commit mistakes. The most important thing is to keep a cool head. I am someone who also admits and corrects his '' mistake ''. So far, nothing has happened yet. What also voted me negative about my ideas is the fact that too many were still bearish oriented. Everywhere I read that you want to buy Bitcoin at $ 4000-5000. Apparently so no bull trap? It can only become a bull trap if the breakout does not take place. Otherwise, you see something that many did not expect before. With a breakout of $9500 I am very bullish for the rest of the time. HOWEVER, we are still on the bear market long term. All this is a correction and with this thing I have never been safer. We will, should we start a rally, have another big crash this year. The scenarios you can see above. In trading, opinions can change very quickly. I will keep you up to date. A tip: sometimes it is smarter to look at certain altcoins, as they follow bitcoin in the bear market. Note: Since I have some dates this week in other countries, I can not always respond to your comments. But, I will be always there at critical situations.
BITFINEX:BTCUSDShort
by E557
41
ETH Ethereum Possible Reversal for Cryptos OR Not??? (1H Chart)I'm studying Cryptos quite a lot. They've taken a massive interest to me. Following the little stock market crash a few days ago where we saw indexes like DAX, SPX and FTSE all drop by a good 3-5%. Which all now seem to be rising in value. We've seen that most Cyrpto markets have been on a big bearish move. Now the thing is, when Bitcoin drops in price. So do many other coins and tokens. Largely because BTC is exchanged to a lot of these coins. When the price drops, the investors interest is also lost. Back to the chart we can see we've had what appears to be a strong bullish movement with a lot of buy orders being placed. Many people might suggest this is a reversal. However, as of the past hour I've picked up on divergence in MACD and the exponential averages are levelling out. If I was to make an educated analysis of the charts, I would say we are entering a consolidation or a channel. I believe the long term action is >>> BUY <<< but expect the price to remain very unpredictable, at best. I base this prediction on the fact that overall ETH is based on better technology and transaction rates are superior to Bitcoin. They still remain correlated however. Keep an eye on the moves!!! Good luck people!
BITFINEX:ETHUSDLong
by Joshua_nate
6
DASH/BTC - 2/2/2018DASH, being one of the older coins that I have analyzed (and currently being compared to Bitcoin rather than USD), has a much more stable price gain than others. After the initial pump in price, the coin started to travel in a very stable sideways market. This coin seems to be trading between a support and resistance level that essentially have been creating a long-term channel. Currently, the price is in a declining wedge whose lows have been tested very briefly. This is shown in the fact that the touches of the bottom side of the wedge have been by very long bearish wicks, that end up closing above the EMA(200). Using this, it can be determined that the price is trying to break this EMA (which would result in a switch to a bear market), but has not been able to close a single candlestick under this level. The long wicks are important though, because the price is reaching new relative lows to create this pattern. Although, the price is also consolidating into what looks like a symmetrical triangle if the wicks of the candlesticks are not being considered, pretty much using the EMA as the bottom side of the triangle. If the price does test the bottom of this wedge and attempts to break the EMA once again, the price is expected to reach the low of 0.05445, this price is around a significant point for a reversal in the past. The determination of whether the price will break above the triangle or below the EMA(200) lies in where the next few candlesticks close. Important Resistance Levels: 0.09174, 0.07683 Important Support Levels: 0.06214, 0.05356 DISCLAIMER WITH THIS CONTENT CRYPTOCURRENCY CAPITAL LLC OR ITS AFFILIATES DO NOT PROVIDE INVESTMENT, TAX, LEGAL OR ACCOUNTING ADVICE. THIS MATERIAL HAS BEEN PREPARED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO PROVIDE, AND SHOULD NOT BE RELIED ON FOR, TAX, LEGAL, ACCOUNTING OR INVESTMENT ADVICE. YOU SHOULD CONSULT YOUR OWN INVESTMENT, TAX, LEGAL AND ACCOUNTING ADVISORS BEFORE ENGAGING IN ANY TRANSACTION AT YOUR OWN RISK. CONFLICTS OF INTEREST GIVEN THE NATURE OF THE FUND’S BUSINESS MODEL, IT IS NOT POSSIBLE TO FORESEE AND PREVENT ALL POSSIBLE CONFLICTS OF INTEREST THAT MIGHT ARISE OVER THE LIFESPAN OF THE COMPANY. AT THE TIME MATERIAL WAS PUBLISHED, CRYPTOCURRENCY CAPITAL LLC, ITS AFFILIATES, OR ITS PRINCIPALS, MAY HOLD LONG/SHORT POSITIONS IN THIS PARTICULAR COIN. Written by: Arham Bheda Senior Research Analyst
D
by EQBM
A horrible year for Bitcoin and the crypto marketBefore you speak my idea badly, read through the entire text: There is no sign that the rally continues this year, the bubble will burst! Why do you think the bubble will burst? The question is easy to answer: Since history is always repeated in the world of trading, it will be the same this time. It's just unnatural how bitcoin has gone the years. It is not possible and it would be bad if the run continued. Many coins are way too expensive for their circumstances. Most of them either have no real use case or no finished product. In addition, the technical analysis speaks also against a bitcoin increase. Even if some do not want to admit it: > MACD makes a bearish cross in the weekly chart, which he did 1 1/2 years ago. > RSI over bought since more than 1 year. > We are about to confirm a candlestick under the EMA, which he did ... I dont know. > There are also areas that we have not tested for some time since the rally - $7500 and $5000 But what does that mean? For us it simply means that it will be a year of correction. Nevertheless, it is possible to end the year of the correction with profits. And my goal will be: To get each one of you to have a profitable year to make the next even more profitable! Stop being so optimistic and greedy, otherwise you'll lose!
BITSTAMP:BTCUSDLong
by E-55
21