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Author Topic: Fresh Cryptocurrency Analytics from FXOpen - Bitcoin, Litecoin, Ethereum  (Read 47157 times)

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Offline FXOpenTopic starter

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Re: Fresh Cryptocurrency Analytics from FXOpen - Bitcoin, Litecoin, Ethereum
« Reply #90 on: November 13, 2018, 12:52:33 PM »

BTC/USD


Last Tuesday, November 6th, the price of Bitcoin was at the opening around $6470, and measuring to its current levels of $6438 the price has fallen by only 0.49%. The price hit its recent high the next day on November 7th reaching $6609 and spiking up to $6615 from where the price has been in a downtrend correcting, reaching the recent low at $6380, and spiking down to $6358.7 at its low. Measured from the recent high to the recent low, the price has pulled back by 3,44% but has recovered since its making up for the downfall and is now at 2,61%.





In our last week’s analysis, it was projected that “the 5 wave could get a bit higher to the marked zone ($6560-6580) but in both cases, I would be looking at more downside for Bitcoin in the upcoming period as after an impulsive 12345 a correction occurs according to the Elliott Wave Principle”.


Read more in FXOpen blog.


Offline FXOpenTopic starter

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Re: Fresh Cryptocurrency Analytics from FXOpen - Bitcoin, Litecoin, Ethereum
« Reply #91 on: November 14, 2018, 09:21:34 AM »
Bitcoin Down as Tether Drops Again

As we can see on the chart below, the zig-zag movement in BTC/USD continues. After last week’s small rally this week we’re witnessing a selloff.

The divergence between tether and USD-based bitcoin exchanges continues. On Bitfinex one coin is selling for $6,476 dollars at the moment. On other exchanges like BitStamp and Coinbase bitcoin is trading at average of $6,277 dollars. This is due to the lower price of tether, a so called ‘stablecoin’ that is used as a substitute for USD on exchanges that have banking issues. Tether is trading at 97 cents right now, 3% below it’s ‘peg’.



Three days ago Bitfinex increased their fiat withdrawal fee to 3% for some customers. This quickly resulted in the market discounting the value of tether from around 99 cents down to 97 cents. The market is indicating that the banking problems for Bitfinex are not over yet. Last month when the latest tether drama started we wrote about tether and it’s influence on the crypto ecosystem. Let’s repeat some of what we wrote for newer readers.

Read more about Bitcoin on FXOpen blog.

Offline emma.lee1890

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Re: Fresh Cryptocurrency Analytics from FXOpen - Bitcoin, Litecoin, Ethereum
« Reply #92 on: November 14, 2018, 05:20:14 PM »

You are right there dude,no one gets right since the bear covers the whole market..
And sad to say but only those fud seems to become more reliable as they can predict the dropping of the prices while the positive predictions eaten by this negativity.
Thats why the best option is to hold and keep patient

Offline FXOpenTopic starter

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Re: Fresh Cryptocurrency Analytics from FXOpen - Bitcoin, Litecoin, Ethereum
« Reply #93 on: November 16, 2018, 09:09:41 AM »
LTC/USD

The price of Litecoin has fallen by 16.34% from yesterday’s high at $51.38 and is currently being traded at $42.8.



Looking at the hourly chart, we can see that the price fell through the descending channels resistance with a massive momentum as the majority of the decline happened in only 8 hours. Currently, the price is below the S2 support line at $44.621. I’ve labeled as a support zone forming a cluster around those levels. The wicks from the downside are indicating that some support has been found but I believe that it will hold only temporary.

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Offline FXOpenTopic starter

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Re: Fresh Cryptocurrency Analytics from FXOpen - Bitcoin, Litecoin, Ethereum
« Reply #94 on: November 20, 2018, 01:28:47 PM »
XRP/USD

Unlike Bitcoin, the price of Ripple has fallen by 13.49% since our analysis on Tuesday – coming from $0.5324 to the current levels of $0.46.



Looking at the hourly chart, you can see that two consecutive cup and handles were formed from which in both cases the price broke out the handle from the upside at first but hasn’t managed to stay above the handles ending point, falling lower each time. But the previous breakout ended lower than the current one, if you are judging by the candle close and not the wicks. It means that some support has been found around $0.46 area.

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Offline FXOpenTopic starter

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Re: Fresh Cryptocurrency Analytics from FXOpen - Bitcoin, Litecoin, Ethereum
« Reply #95 on: November 22, 2018, 01:24:37 PM »
LTC/USD

Since 6th of November, the price of Litecoin has been in a downtrend and on last Thursday the price was $45.385 at the open. From there the price stagnated at first but at the start of this week on Monday the price started to decrease again falling further down to $32.813, which is the yearly low.

The price has been consolidating and is now at around $34.64, which is an overall decrease of 23.40% in the last seven days.



As you can see from the hourly chart, the price went below the descending channels support (black interrupted line) and below the horizontal support level at $38.21. The price found support on the next horizontal support level at $33.29 and has been consolidating above it since then. The consolidation has a symmetrical triangle shape, which indicates equal aggressiveness from both sides.

Read more on FXOpen blog.

Offline FXOpenTopic starter

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Re: Fresh Cryptocurrency Analytics from FXOpen - Bitcoin, Litecoin, Ethereum
« Reply #96 on: November 28, 2018, 06:38:06 AM »
BTC/USD

Last week on Monday, November 20th the price of Bitcoin was at $4977, the week’s highest point. From that high, the price went back to the levels from which the increase around $4500 was made and then continued to move to the downside. Measured to the current level of $3748 the price of Bitcoin has fallen by 24.65%.



Looking at the hourly chart, you can see that the price action is indicating a downtrend even though it looks like the price has stabilized at around $3782, where the horizontal significant level is serving as support. Since the price interacted with the level for the third time in the last couple of days, currently we are seeing that the price is below the mentioned level.

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Re: Fresh Cryptocurrency Analytics from FXOpen - Bitcoin, Litecoin, Ethereum
« Reply #97 on: November 29, 2018, 04:07:40 PM »
LTC/USD

From last Thursday when the price of Litecoin was $35.419 at its open, measured to the current levels on which the crypto is being traded, the price has only decreased by 1.08%. The price did go lower from last Thursdays open, as it was the minor Z wave ending point from which another drop has been made to $27.46 area where the horizontal significant level is.



Looking at the hourly chart, you can see that the price interacted with the mentioned level with a spike down on Sunday when the cryptocurrency market was at its lowest from the start of the year. Since the low has been made the price started to recover and has at first came up to the downtrends resistance line where it got rejected. But as the rejection ended with a higher low, enough momentum was picked up for a breakout at the second attempt.

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Re: Fresh Cryptocurrency Analytics from FXOpen - Bitcoin, Litecoin, Ethereum
« Reply #98 on: December 04, 2018, 01:02:54 PM »
BTC/USD

Since our last week’s analysis on Tuesday, November 27, when the price of Bitcoin was at its lowest point at $3759, it has even spiked to $3683, but the hourly candle has closed above leaving a wick.



Since that low, which was the lowest price, has been since the start of the year, we saw an increase up to $4416, which was a higher high compared to the previous one at $4169. From there on the price started decreasing and since it came down to the horizontal support level at $4045, price action created a higher low, indicating the start of an uptrend and an ascending channel outline started forming.

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Re: Fresh Cryptocurrency Analytics from FXOpen - Bitcoin, Litecoin, Ethereum
« Reply #99 on: December 06, 2018, 12:50:15 PM »
LTC/USD

Since our last week analysis on Thursday, November 29th, when the price of Litecoin was at $35.14 measured to the current levels at around $29.6, the cryptocurrency has decreased in value by 15.87%.



Looking at the hourly chart, you can see that the price didn’t go down in a straight line. Instead, the price fell at first to around $32, which was considered to be a higher high at the time a normal retracement after the upswing that broken the prior downtrend resistance. But as you can see the price increased again after establishing support but failed to exceed the prior high as it came to $35.4 area again and was stopped out.

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