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Author Topic: Fresh Cryptocurrency Analytics from FXOpen - Bitcoin, Litecoin, Ethereum  (Read 27838 times)

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Offline FXOpenTopic starter

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No Follow-through for Bitcoin


Bitcoin prices are having a hard time making headway during the past five days. We saw a new high of $8,425 on Sunday but this was quickly sold into by the bears. We are currently quoted at $8,102 dollars.





Bitcoin is still in a range on the daily charts. To end it we need a breakout above $8,425 dollars to the upside. As usual we’re looking for a decisive breakout here not just a brief and shallow spike higher. Higher up there’s more resistance around the $9,000 round figure and the $9,165 swing high. Further up we have the $10,000 round figure, an important psychological barrier. This is followed by more resistance at $10,680, $11,000 and $11,769 dollars.


On the lower end the bears need a break of the support around the $6,420 swing low. A clearing of this strong support area would open the way for a break of this year’s low at $5,980 dollars per coin. On the longer-term weekly charts BTC/USD is range-bound as well. The monthly charts are still looking bullish.


Read about LTC/USD on FXOpen blog.


Offline FXOpenTopic starter

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Bitcoin Rally Continues

The rally in BTC/USD continues with more gains during the past few days. As noted previously, with the break above the $8,425 dollars swing high we’re back in a bull market on the daily charts.






There’s weak resistance higher up at $9,887 dollars followed by a stronger level at the $10,000 round figure, an important psychological barrier. This is followed by more resistance at $10,680, $11,000 and $11,769 dollars. Fundamentally no major news have been released to trigger the current bull market in cryptos. The several smaller news events have been both bullish and bearish for the price.


The current rally may end if we get a decisive break below the $7,821 swing low. A new bearish trend needs a break of the support around the $6,420 swing low. A clearing of this strong support area would open the way for a break of this year’s low at $5,980 dollars per coin. On the longer-term weekly charts BTC/USD is range-bound but the monthly charts are keeping the bullish bias.


Read about LTC/USD on FXOpen blog

Offline ososjohn

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found a new cool site, service to track the price of cryptocurrency. updated very quickly. started to use it. try it for yourself/ and that I'm not allowed to insert links
 marketcoinprice com

Offline CryptoCZ

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found a new cool site, service to track the price of cryptocurrency. updated very quickly. started to use it. try it for yourself/ and that I'm not allowed to insert links
 marketcoinprice com
Does this site have its own application?

Offline FXOpenTopic starter

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More Gains for Bitcoin


Since last Tuesday bitcoin prices advanced by $439 dollars or almost 5 percent. Naturally the uptrend on the daily charts is still in place. To end it the bears will have to push us below the $8,650 swing low. A new downtrend requires a breakdown below the next swing low at $7,821 dollars per coin.



Further down there’s strong support around the $6,420 swing low. A clearing of this strong support area would open the way for a break of this year’s low at $5,980 dollars per coin. Higher up there’s some resistance at the psychological $10,000 figure, followed by more resistance at $10,680, $11,000 and $11,769 dollars. On the weekly charts BTC/USD is range-bound but the monthly charts are still keeping the bullish bias.

Similarly to last week there have been no major news catalyst behind the moves. There has been some chatter from China regarding the legality of some bitcoin trading platforms but so far there hasn’t been any fire, only smoke.


Read about LTC/USD here.

Offline FXOpenTopic starter

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Bitcoin Rally Stalls

As noted above, the rally in BTC/USD is somewhat stalling. Prices topped out at $9,987 dollars six days ago and since then it’s been a slow ride down. Yesterday morning we dipped below the $9,000 round figure briefly but recovered quickly for a second time. However the bulls may not be so lucky the third time around, another retest may lead to a breakdown lower.



The potential trend-ending support stands at the $8,815 swing low although not far from here there’s more decent support at the $8,650 swing low. A new downtrend may commence on a decisive break below the $8,000 round figure. Further down there’s some support around the former swing low at $7,287 dollars.

But a stronger area to watch out for is the $6,420 to $6,600 range. This is where we bottomed out last time. This year’s low at $5,980 dollars is another notable level. A clearing of these support levels may open the door to the $5,000 round figure. There’s no change on the longer-term charts. Here the weekly is still range-bound with the monthly keeping a bullish bias.


Read about LTC/USD on FXOpen blog

Offline FXOpenTopic starter

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Bitcoin Back in a Downtrend


As noted in our previous article, BTC/USD is now back in a bear market. Last week we saw a drop of over $1,000 dollars during which a low of $8,202 was hit. From here we got somewhat of a dead-cat bounce, helped by the Consensus conference.





But with the event already underway and technicals turning bearish, speculators could start to ‘sell the news’. Weak support on the way down can be found at the $8,202 swing low, followed by the $8,000 round figure. Further down we have more support at $7,821, another notable swing low. A strong support area below can be found in the $6,420 to $6,600 dollars range. This is where we bottomed out during the last selloff. A decisive break below here could open the door for a break of this year’s low at $5,980 dollars.


On the upside there’s resistance at the $9,165 dollars, followed by a strong area of resistance around the $10,000 round figure. A clean breakout above here would both end the downtrend and start a new uptrend. On the longer-term weekly charts BTC/USD is in a range while the monthly chart is looking bullish.


Read about LTC/USD on FXOpen blog.

Offline FXOpenTopic starter

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Ether Loses Momentum

Ether prices have lost the positive momentum vs bitcoin. We are currently quoted at 0.08414 BTC, below the highs hit back on May 6th.






Nonetheless, ETH/BTC remains in an uptrend on the daily charts. To end it the bears will have to make a decisive push below the 0.07703 BTC swing low. A breakdown below 0.07413 BTC is needed for a new downtrend.


Higher up there’s weak resistance above the 0.085 BTC round figure. This is followed by the 0.08829 swing high and the 0.09 and 0.1 BTC round figures. A decisive breakout above here may open to door to this year’s high at 0.121 BTC. On the longer-term weekly charts Ether is range-bound. The trend is bullish on the monthly charts, which take a longer time to turn.


Read about DSH/BTC and BTC/USD on FXOpen blog

Offline Garden

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Wow! These analysis are quite similar to my analysis. I am hoping for the best at the current situation as the bitcoin showed positivity in the recent month. It dropped badly but now its regaining strength which is an optimistic thing. Are you hoing long with this optimism?

Offline FXOpenTopic starter

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Bitcoin Slightly Higher


Bitcoin has advanced higher by almost 2 percent in a low volatility environment. The high during the past seven days was at $7,775 and the low at $7,270 dollars, a range of $505 dollars or close to 7 percent. This is very low compared to recent price movements. For example the 14 week ATR (Average True Range) is around $1,500 while the 5 week ATR is at almost $1,000 dollars.




Today we got close to the low from last Wednesday after bitcoin exchange Bitfinex went down. Prices quickly bounced back after the site relaunched. Markets are rightly worried about a Bitfinex outage, back in August of 2016 the exchange said that it lost 120,000 bitcoins to a hack.


On the technical side things haven’t changed much, which is to be expected during low volatility. We are still in a downtrend on the daily charts. A breakout above the $7,775 swing high is needed to end the bearish trend. A move above the $8,590 swing high is needed for a new rally. A breakout above the $10,000 round figure could accelerate the gains.


On the lower end there’s a large area of support starting from last week’s low at $7,046 to the lows set back in April at $6,420 dollars. A clearing of this area should give us enough momentum to take out the 2018 low at $5,980 dollars per coin. On the weekly charts BTC/USD is range-bound. Prices are still looking bullish on the monthly charts.


Read about LTC/USD on FXOpen blog.




Offline andrewbenson

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Hello, I post here because I need your help...I had some BTC and I converted them to MUSDcoins...and now I want to convert a piece of them to Btc again because now the price of BTC is deep compared with the early price...so Am I able to do that??????

Offline FXOpenTopic starter

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Dash Stays in Downtrend


Dash prices continue to linger near the lows vs bitcoin. We are trading at 0.03999 BTC at the moment, only slightly off last month’s low at 0.03981 BTC. A breakout above the latest swing high at 0.04325 BTC may end the downtrend. A move beyond the 0.05 BTC round figure is needed for a new rally.





On the lower end the key support is around 0.03981 BTC.  This is a major swing low for DSH/BTC as well as the low for the current year. A decisive breakdown below here could lead to more losses below. On the longer-term charts the picture here is the same as Ether. We are in a range on the weekly charts but in an uptrend on the monthly charts.


Read ETH/BTC analysis on FXOpen blog.

Offline FXOpenTopic starter

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Bitcoin Nears Yearly Lows


Bitcoin hit a low of $6,129 earlier in the day, only $149 dollars away from the 2018 low at $5,980. The strong support around the $6,400 level seems to be cleared now although a short-term dead-cat bounce is not out of the question. We are currently quoted at $6,430 dollars.






The trend on the daily chart remains down. To end it we need a breakout above the $7,775 swing high. A move above here would also start a new rally in prices. Higher up there’s more resistance at $8,590 and 8,880 dollars per coin. The $10,000 round figure is another notable resistance level. This is where the last major push up died. A clear break above could lead to further gains.


On the downside, there’s weak support around the 2018 low at $5,980 dollars. A stronger level of support is the $5,000 round figure. A decisive breakdown below it would exacerbate the losses. On the longer-term charts, the picture is unchanged. We are still range-bound on the weeklies and bullish on the monthlies. But as noted many times before, these timeframes take a long time to turn.


Read LTC/USD analysis on FXOpen blog.


 

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