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Author Topic: Fresh Cryptocurrency Analytics from FXOpen - Bitcoin, Litecoin, Ethereum  (Read 52048 times)

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Offline FXOpenTopic starter

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Re: Fresh Cryptocurrency Analytics from FXOpen - Bitcoin, Litecoin, Ethereum
« Reply #105 on: January 11, 2019, 06:43:11 AM »
LTC/USD

During the week the price of Litecoin fell from $40.113 on Monday to the current levels at around $35.40. Thus, the cryptocurrency has depreciated in price by 11.83%. The price went further up to around $42 area on Tuesday making a higher high surpassing the previous one at $37.312. From there the altcoin fell quickly to $34.57 and has recovered to its current level at $35.358.



On the hourly chart, the price dropped from the $39.732 level today, decreasing by 12.62% in one go. The LTC/USD is on the current uptrend support line now and has bounced off of it nicely as since the interaction occurred 1.95% green candles were formed. This isn’t still enough to say that it won’t continue going lower and break the support level as the momentum behind the sell-off looks strong.

Read more on FXOpen blog.


Offline FXOpenTopic starter

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Re: Fresh Cryptocurrency Analytics from FXOpen - Bitcoin, Litecoin, Ethereum
« Reply #106 on: January 16, 2019, 06:39:59 AM »
BTC/USD

From the start of the week, the price of Bitcoin was in an upward trajectory and has come from yesterday’s open at $3580 to $3801 at its highest point yesterday. Since yesterday’s high, the price has been retracing and is currently sitting at $3729, which is an overall increase of 4.07%.



Looking at the hourly chart you can see that the price action has created a minor descending channel in which the price is retracing from the moment it hit the 0.5 Fibonacci level. As the wave structure looks impulsive, I believe that the move to the upside has one more wave to go. That is why after the retracement I would expect the price of Bitcoin to go up to $3880 before this move has ended.

Read more on FXOpen blog.

Offline FXOpenTopic starter

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Re: Fresh Cryptocurrency Analytics from FXOpen - Bitcoin, Litecoin, Ethereum
« Reply #107 on: January 17, 2019, 01:34:47 PM »
LTC/USD

Last Thursday the price of #Litecoin was $39.8. From there it started falling down fast as it came from $39,75 to $32,72 at the lowest point on the same day, which is a drop of 17.5%. The price continued its downward trajectory and reached $32.5 on Friday, but the price stabilized around $32.48 level over the weekend and even started increasing on Sunday when it came up to $33.426. But more movement to the downside has been made from there as the price came down to $30.47 on Monday.
 


From there on the price has started increasing and came up by 9.76% as it reached $33.366 slightly above the 0.5 Fibonacci level. But since it also came to the minor downtrends resistance it started decreasing again. Hence, the sellers pushed the price back below the 0.5 Fibo level again with a struggle at first. Then the sellers showed more determination as a large 5% red candle occurred, which is only 2% lower from the previous green one to the upside.

Read more FXOpen blog.


 

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