Bitcoin restored all losses from weekend fall. The fact that BTC is growing in anticipation of G20 meetings, where the issue of the cryptocurrency markets regulation will be raised, is bullish.
From the technical view, such dive below 8000.0 and return looks more like market manipulation so the whales could buy lows before growth.
Excluding guesswork, to confirm...
Among altcoins driven into depression by the falling bitcoin, rising Litecoin shows encouraging signs of bullishness.
The main positive driver for the Litecoin is rumors about listing LTC on the Gemini exchange.
From the technical view:
Price holds near to the 23.6% Fibonacci level of the previous uptrend, the last frontier before new heights.
200-days EMA, which...
For the moment Bitcoin broke the Bullish Trend Line support and went straight to the 8000.0 level.
For everyone who is waiting for the reversal, reviews of the main reversal scenarios:
Leaving a long shadow underneath the Bullish Trend Line and return above it would be the sweetest scenario. The breaking of the newly established Bearish Trend Line and volume...
ETHUSDT was falling under the influence of the weak Bitcoin. The has dropped below the 1000.0 level and established a Bearish Trend Line resistance, which indicates the downward bias of the price. Nonetheless, Ethereum is one of the strongest crypto platforms which have an undeniable value for the investors. Hence, while Ethereum price is liable to the Bitcoin...
The Double Bottom Reversal pattern emerges on the global Bullish Trend Line support.
9500.0 level is the Double Bottom Resistance, the breakthrough of this level confirms the formation of the figure.
If the price will hold above the 9500.0 level and if volumes will rise - the beginning of the uptrend movement should be considered. Next resistance will be 10000.0...
As expected, the fall stopped at the bottom of the Support Zone. Here we have 200-days EMA, 61.8% Fibonacci retracement, Bullish Trend Line (Support Trend Line for the global uptrend); February lows (9250.0) also stays near.
Obviously to buy now, without any proves of the reversal tendency would be a high risk. Downtrend movement had high momentum, so the rebound...
While bitcoin is going down once more we are watching for the remaining support levels:
9250.0 (low of the 25.02.2018)
200-days EMA close to the 9000.0)
61.8 Fibonacci Retracement (8700.0)
Global Bullish Support Trend Line
6000.0 ( 04.02.2018 Low)
After one more attempt to reach the Neckline resistance Bitcoin falls today and breaks a Reverse Head and Shoulders scenario.
The Trend Line from recent 6000.0 low violated as well.
News, supporting the fall:
Binance hack issue
Statement on Potentially Unlawful Online Platforms for Trading Digital Assets
From the bulls side:
Nonetheless, the fall did not...
The market loses momentum near the 12000.0 level; the volumes are falling which suggests that bulls are waiting for the retracement to buy cheaper.
Retracement level that does not violate the bullish scenario ends at the 10000.0 level (approximately 61,8% of the last uptrend impulse 9300.0 - 11700.0).
So, if the buyers will come back on the Trend Lines or at...
Ethereum got close to the Trend Line Resistance of the global correction pattern. The breakthrough of this line would mean a start of the next rising wave.
Given that ETHUSD holds above the 800.0 support, the clash with the Trend Line Resistance will happen during the week. Taking into account low volumes, the price is most likely will not be able to break...
The last week passed in the upward movement. The price has exceeded the resistance zone of 10000.0 - 11000.0 and Trend Line Resistance.
Nevertheless, there is a Neckline resistance (12000.0 - 13000.0) which starts at the 20.02 high, until the breakthrough of the Neckline happen the bias will stay lateral.
For the next week, I expect to see testings of the Neckline...
Going UP already?
BTCUSD broke the Trend Line Resistance once again, which is fairly considered a bullish sign. We saw fluctuations around the Trend Line Resistance that confirms it is important for the global picture. And the price is above this line again. But, the last breakthrough (at 02.28) stopped at the 11000.0 level, now we the price is at this level...
From the higher perspective ETHUSD is in the bullish state. The pair is higher than 200-days EMA, in the upper part (higher than 50%) of the correction pattern of the global uptrend.
At this point, the pair is getting close to the bow of the wedge created by the Downtrend Line and Uptrend Line of the correctional pattern.
Also, this wedge coincides with the...
The main idea behind this scenario is that Bitcoin will not go into a bullish bias until G20 summit in March.
"U.S. Treasury Secretary Steven Mnuchin has indicated he is planning to raise the subject of cryptocurrency regulation during an upcoming G20 summit to be held in Argentina in March."(coindesk)
I expect that BTCUSD will go into lateral movement between...
ETHBTC pushed off from the 0.09 resistance and had a downtrend yesterday. Nonetheless, the bullish pattern still dominates.
Rollback to the Angle Support could be a good place for buyers if the price will show signs of rebound.
If the price breaks below the Angle Support, the next support level will be 0.08. In case of breakthrough below the 0.08 level, the...
Falling volumes and lowering momentum of the upward movement shows that there is not enough demand on Ethereum even close to the 900.0 level.
To confirm the beginning of the upward trend, we will need to see rising volumes and break above the 1000.0 resistance.
For now, the more likely scenario is lateral movement in the 800.0 - 1000.0 zone.
BTCUSD broke the 10000.0 resistance again but did not show any significant impulses yet. From the upside, we still have an Angle Resistance, 11000.0 level, and Neck Line zone. If BTCUSD will not gain significant volumes or fundamental support - rebound from this levels looks more probable.
One of the nearest significant events will be the propose of Bitcoin...