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Author Topic: Fresh Cryptocurrency Analytics from FXOpen - Bitcoin, Litecoin, Ethereum  (Read 101907 times)

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Offline FXOpenTopic starter

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Re: Fresh Cryptocurrency Analytics from FXOpen - Bitcoin, Litecoin, Ethereum
« Reply #135 on: April 23, 2019, 12:05:23 PM »
BTC/USD

From yesterday’s low at $5275, the price of Bitcoin has increased by 5.95% as its currently being traded at $5580. The price was moving sideways over the weekend and was in a minor downtrend yesterday, but since it came down to the mentioned low levels it started increasing impulsively.



On the hourly chart, you can see that the price came up to its significant resistance levels out of which the first one is a horizontal and the other is an ascending one. Both are significant as they are the upper outline of the range in which the price action has been stuck in for quite some time now, and considering that they are intersecting around the current levels there we can assume that strong resistance would be found and judging by the looks of the current hourly candle the price might have already encountered it.

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Offline FXOpenTopic starter

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Re: Fresh Cryptocurrency Analytics from FXOpen - Bitcoin, Litecoin, Ethereum
« Reply #136 on: April 25, 2019, 11:21:04 AM »
LTC/USD

From last week when the price of Litecoin was sitting at $84.4 on Monday’s high, we have seen a decrease of 14.73% measured to yesterday’s low at around $71.9 which is the weekly low so far. The price has recovered slightly from yesterday’s downfall and reached $74.36 at its highest point today but again started decreasing and is currently sitting at around $73.



On the hourly chart, we can see that the price made a breakout to the downside from the expanding structure that was seen from the 12th of April and that with strong momentum. As previous to the formation of the expanding structure, I have counted a three-wave correction we are most likely seeing its continuation. The expanding structure looked like it could have been the start of the next impulsive move the upside but since a breakout to the downside occurred instead it was most likely the 4th wave out of the same correction.

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Offline FXOpenTopic starter

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Re: Fresh Cryptocurrency Analytics from FXOpen - Bitcoin, Litecoin, Ethereum
« Reply #137 on: April 30, 2019, 01:16:57 PM »
BTC/USD

From last Monday when the price of Bitcoin was $5266.5 we have seen an increase of 7.27% until Wednesday when the price came up to $5649. Since Wednesday the price of Bitcoin experienced a downfall below Monday’s open as the price came down to by 8.23% at its lowest point on Friday when it was sitting at $5185 at the open and even spiked lower to $5056. Over the weekend we have seen another increase as the price started recovering. But the increase ended on Sunday when the price reached the horizontal resistance at around $5562 from where another minor downtrend has started.



On the hourly chart, you can see that the price action formed an expanding triangle from Sunday until today as the attempt for a breakout to the upside is currently being made. The price looks like it found some strong resistance as indicated by the wick from the upside seen on the last hourly candle so we are yet to see if the attempt ends as a fakeout.

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Offline FXOpenTopic starter

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BTC/USD

The price of Bitcoin has continued increasing over the weekend and has come up from $6225 on Friday’s low to $8166  at its highest point today which is an increase of 31.5%.  This increase is a continuation of the impulsive move started on the 26th of April and is the ending wave of the higher degree count.



The price broke the significant resistance level at around $6250 which is highly significant as it was the major support point on the way down. This could indicate the start of the bull market and considering the momentum behind the upward movement, this could be likely.

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Offline FXOpenTopic starter

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BTC/USD

Last Monday when the price of Bitcoin was sitting at $6976 we have seen an increase of 18.88% measured to the weekly high at $8294 made on Thursday but immediately after reaching those levels, the price fell sharply and steeply as it came down by 14.36% on the following day coming to around $7100. From Friday and throughout the weekend the price has recovered close to the level of Thursday’s high at $8200 on Monday’s open.



From Monday the price has been decreasing and came down to $7676 as the price action created a head and shoulder pattern which is considered to be the “top” pattern. As the price fell another upside move has been made after but with the price struggling to exceed the Monday’s high before showing signs of weakness as it encountered resistance below it at around $8020. The price is currently being traded at $7936 and has been in an upward trajectory since yesterday but as it hadn’t exceeded the previous high on the yesterday’s upward momentum it is now likely headed down to some of the significant support levels out of which the currently most significant one would be the ascending trendline made from 11th of April.

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Offline FXOpenTopic starter

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LTC/USD

From yesterday’s high at $91.53 the price of Litecoin has decreased by 6.16% and is currently being traded at $86. The price started moving with strong momentum to the downside on yesterday’s interaction with the horizontal support level from the prior upper range and continued on during the day.



On the hourly chart, you can see that the price of Litecoin has started falling below the second horizontal support level at $86.4 which is the ending point of the 1st wave of a higher degree. This means that the increase seen over the weekend was corrective as it ended as a three-wave correction. This was validated by the price going below $90.5 which was the significant invalidation point.

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LTC/USD

From last week, when the price of Litecoin was $84.94 at its lowest point on Thursday 23rd we have seen an increase of around 40% as the price reached spiked to $122.32 at its highest, but found strong resistance at $118 below which the majority of the hourly candles closed.



This increase was expected to play out as an ending wave from the five-wave increase we’ve seen developing from 29th of April when the price of Litecoin was sitting at $69.23. As the price reached the projected level and has done so in a five-wave manner we have likely seen the end of the increase, although the confirmation is awaited.

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Offline FXOpenTopic starter

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BTC/USD

Last week the price of Bitcoin started failing impulsively after reaching $13714 at its highest point on Wednesday. The price decreased by over 24% on the next day as it came down to $10400 at its lowest spiked by the hourly candle closed above $10772 after which recovery took place. From Friday’s open at $10817 we have seen a recovery of 14.12% on Saturday as the price came up slightly below the 0.618 Fibonacci level which is in price terms at $12342.



On the next day, another attempt has been made for the price to surpass the 0.618 Fib level but the price action formed a lower high which was an early sign of weakness with the price immediately starting to move impulsively to the downside again as the third wave out of the starting downtrend has begun.

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LTC/USD

From Tuesday’s low at $114.26, the price of Litecoin has increased by 9.16% measured to its highest point today which was at $124.75. The price spiked even higher, reaching $126.98 at its peak but the hourly candle closed below $125 area.



Looking at the hourly chart, you can see that the price of Litecoin fell to the minor horizontal support level on Tuesday where it found support, as the price spiked further below it but the hourly candle managed to close above. This was the ending point of the five-wave impulse to the downside according to my count which makes the increase seen from Tuesday most likely corrective in nature. The price is currently being traded at $122.3 and is retesting the significant horizontal level which is considered to be a median line from the resistance zone between $137 and $109.

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EOS/USD

From yesterday’s high at $5.9224 the price of EOS has decreased by 23.38% as it fell down to $4.53 and even spiked further down to $4.32 at its lowest point. The price is currently being traded at $4.71 as it found support at the significant horizontal support level and is attempting to make a recovery.



On the hourly chart, you can see that the price of EOS fell to the projected level in a five-wave manner but hasn’t made an expected recovery. The price struggled to move back up above the 0 Fib level and finally as the seller’s pressure has served as resistance there and the buyers look like they gave up with another sell-off started a breakout below $5.8 level.

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BTC/USD

From yesterday’s high at $10976.7 the price of Bitcoin has decreased by 9.62% as it came down to $9920.6 at its lowest point today around which the price is currently being traded.



Looking at the hourly chart, you can see that the price came down to the 0 Fib level but there hasn’t been an interaction, as the price found support at the vicinity of the 1st wave’s ending point. As the WXY correction ended an upward five-wave move has been seen developing until yesterday’s high. There could still be a possibility that this wave hasn’t ended as we could be seeing the 4th wave developing.

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LTC/USD

From last weeks high at $105.3 the price of Litecoin has decreased by 16.21% measured to the lowest point the price has yesterday which is at $87.994. Since yesterday’s low, we’ve seen an increase of 10.31% as the price came up to $97.127 at its highest point today around which it is currently being traded.



On the hourly chart, you can see that the price came down to the significant horizontal support level yesterday but there hasn’t been an interaction even though the price quickly spiked to the downside around the open before another upturn occurred. This indicates buyers presence at those levels confirming that the area serves as a support.

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BTC/USD

Last week the price of Bitcoin was $10641.1 at its highest point on Monday. From there we’ve seen the price decreasing until Wednesday when the price started recovering and came to $10168 which was again retested on Saturday but since the price failed to exceed the prior high another shart downfall has been seen to $9367 on the same day.



Since then the price has been hovering in a horizontal range between the Saturday’s low and $9580 but the price spiked to the downside and retested the prior low on a quick spike after which a retest of the 0 Fib level has been made. This horizontal range could be interpreted as a consolidative range after the price fell below the 0 Fib level and is likely a sign of indecision.

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Re: Fresh Cryptocurrency Analytics from FXOpen - Bitcoin, Litecoin, Ethereum
« Reply #148 on: August 01, 2019, 01:58:26 AM »
thanks

Offline FXOpenTopic starter

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Re: Fresh Cryptocurrency Analytics from FXOpen - Bitcoin, Litecoin, Ethereum
« Reply #149 on: August 13, 2019, 02:44:31 PM »
Bitcoin and Ripple Showing Signs Of Weakness

BTC/USD

The price of Bitcoin has been decreasing from last Tuesday when it spiked up t0 $12315 at its highest point and came down to $11297 today which is a decrease of slightly over 8%. Last Tuesday’s spike was an interaction with the 0.618 Fibonacci level which ended as rejection with the price currently testing the 0.382 Fib level for support.



On the hourly chart, you can see that the price is still back inside the territory of the descending channel as the attempt for a breakout to the upside failed. The price came only up for a lower high before a cluster has been formed above the 0.5 Fib line but a straight downfall has been seen below the horizontal level. This could be an early indication that the price isn’t continuing its upward trajectory as most likely a retracement has started developing.

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