Cryptocurrency Analysis: Bitcoin, Litecoin, Ethereum, Dash, etc.

[FXOpen_broker]

BTC/USD AND XRP/USD FAKE-OUT

BTC/USD

Yesterday the price of Bitcoin has fallen to $9040 and even spiked a bit further to the downside below the $9k mark making a lower low compared to Friday’s one and has attempted to break out the ascending channels support level but spiked back up inside its territory reaching $9573 at its highest point today.



Looking at the hourly chart we can see that the price spiked back to the minor descending level and found resistance there which is the upper level of the made symmetrical triangle from the 8th of May. This is why we are currently seeing a cluster being formed with a clear indication of what the upward pressure is to assume, especially considering that another lower degree ascending channels is being formed.

Continue reading... https://www.fxopen.blog/btc-usd-and-xrp-usd-fake-out/

[FXOpen_broker]

LTC AND EOS – DOWNSIDE EXPECTED



LTC/USD

From Monday when the price of Litecoin was sitting at $41.87 at its lowest point we have seen an increase of 7.77% measured to the weekly high made yesterday when the price came up to $45 level. Since then a slight retracement has been seen with the price going down to $43.1 at its lowest today but has managed to come up above $44 mark where its currently being traded.



On the hourly chart, you can see that the price has stabilized around the local horizontal support level and is further establishing support after a three-wave move to the upside has been made. This three-wave move retested the $45 level twice before we have seen a descending one today. It came after an impulsive move to the downside which pushed the price in a decrease of 10.62% but there hasn’t been an interaction with the significant $41.7 horizontal level.

Continue reading... https://www.fxopen.blog/ltc-and-eos-downside-expected/

[FXOpen_broker]

BTC AND XRP – BULLISH PRICE ACTION SEEN BUT IT LOOKS CORRECTIVE



BTC/USD

From yesterday’s low at $9292.9 the price of Bitcoin has increased by 5.48% coming to $9802 at its highest spike today but since then made a minor retracement and is currently being traded at $9614.



On the hourly chart, you can see that the price came up to retest the intersection of the significant horizontal resistance zone and the interrupted ascending trendline like previously expected before the completion of this ascending corrective move, but by looking at the wave structure it appears that the increase is likely to continue for another push to the upside which would be its 5th wave.

Continue reading... https://www.fxopen.blog/btc-and-xrp-bullish-price-action-seen-but-it-looks-corrective/

[FXOpen_broker]

LTC AND EOS – IMPULSIVE DECLINE EXPECTED

LTC/USD

From yesterday’s high at $44.66 the price of Litecoin has fallen by 6.54% today as it made interaction with its current significant horizontal support level at $41.714 at its lowest point. The price found support which is why the interaction ended as a bounce with the price currently being traded around $42.86 and is in a slight upward trajectory.



On the hourly chart, you can see that this descending move has been expected to push the price below the significant horizontal support level as we are most likely seeing the start of the C wave from the lower degree count as the third ABC correction is to develop. This should be another sub-wave of the higher degree correction and is it Y wave, but it could also be a five-wave decrease if the price is to impulsively move to the downside.

Continue reading... https://www.fxopen.blog/ltc-and-eos-impulsive-decline-expected/

[FXOpen_broker]

BTC AND XRP — CORRECTION OR LONG-TERM DOWNTREND DEVELOPING?



BTC/USD

From last Monday when the price of Bitcoin was sitting around $9783 at its highest point we have seen a decrease of 9.57% measured to its lowest point made on Saturday at $8847. Since then we have seen a recovery of 3.93% coming to $9221.7 with the price now being traded slightly lower.



Looking at the hourly chart, you can see that the projection is going in accordance as I have outlined the price pathway in the previous post to be a move to the downside as we have seen a test of the ascending triangle’s support level for resistance after a breakout below it. This was appeared to be an ABC correction to the upside which is why now I would be expecting to see another five-wave impulse to the downside which could either be a C wave if this structure is corrective or the 3rd wave if this structure from the 1st of Jun is impulsive.

Continue reading... https://www.fxopen.blog/btc-and-xrp-correction-or-long-term-downtrend-developing/

[FXOpen_broker]

LTC AND EOS — BREAKOUT SOON EXPECTED!



LTC/USD

The price of Litecoin has been increasing from the 27th of June when it dipped below the $40 mark and spiked to the downside but managed to maintain above it after and was set into an upward trajectory, reaching $42 level at its highest point made on three occasions. Currently, it is being traded at around $41.448 and is in a downward trajectory from yesterday high overall.



Looking at the hourly chart, you can see that an ascending triangle was been formed from the 27th of Jun’s low with the price not being able to go back up above the $42 levels of multiple occasions which is why today we have seen a breakout to the downside below the horizontal level again after a breakout below the ascending support level of the mentioned triangle. This is why further downside movement would be expected as we have most likely seen the completion of another corrective wave which could have been the C wave of a lower degree considering that it’s subdivided into a five-wave structure.

Continue reading... https://www.fxopen.blog/ltc-and-eos-breakout-soon-expected/

[FXOpen_broker]

BTC AND XRP – BULLISHNESS SEEN BUT FOR HOW LONG?



BTC/USD

From yesterday’s open when the price of Bitcoin was sitting at $9021, we have seen an increase of 4% as it came up to $9383 at its highest point today. We have seen a minor pullback after with the price currently being traded at around $9242 and is in a downward trajectory.



On the hourly chart, you can see that the price has made it above a significant horizontal level which served as support and is now likely retesting it from the upper side for support. This zone was broken on the 25th of June when the price made an impulsive move to the $8855 area. This is why we could be seeing the development of the 2nd wave out of a lower degree count which is corrective in nature and functions as an attempt for the price to test the seller’s pressure.

Continue reading... https://www.fxopen.blog/btc-and-xrp-bullishness-seen-but-for-how-long/

[FXOpen_broker]

LTC AND EOS – FURTHER UPSIDE ANTICIPATED



LTC/USD

From Sunday when the price of Litecoin was sitting at around $40.8 at its lowest point we have seen an increase of 12.26% measured to ti’s highest point today which was at $45.9. We have seen the price coming to the levels above its previous horizontal resistance but is still in the zone and is retesting its upper level which is why in the last hour we have seen a red candle developing and the momentum slowing down.



On the hourly chart, you can see that the price made a bullish spikey upside move after falling below the $41.7 which was the most significant horizontal support level. This invalidated the prior count in which we have been likely seeing the development of another five-wave move to the downside. Instead, we are now seeing a five-wave increase to the upside and with the price of Litecoin showing strong bullish momentum, it is likely to continue for a while as further waves should develop.

Continue reading... https://www.fxopen.blog/ltc-and-eos-further-upside-anticipated/

[FXOpen_broker]

BTC AND XRP – BREAKOUT OR A FAKEOUT?



BTC/USD

From last week’s high made on Wednesday at $9489, the price of Bitcoin has decreased by 4% measured to today’s low at $9109.9. Currently, the price is being traded at $9230 as a minor recovery has been made but is overall in a downward trajectory.



Looking at the hourly chart, you can see that the price has attempted to break out from the descending channel in which it was since the start of June but fell back inside its territory last Friday but is now again retesting its resistance line from the upper side for support another attempt is being made. Today’s lowest point spiked to the downside inside the territory of the mentioned descending structure and has bounced above leaving a spike on the hourly chart.

Continue reading... https://www.fxopen.blog/btc-and-xrp-breakout-or-a-fakeout/

[FXOpen_broker]

LTC AND EOS – IMPULSE TO THE DOWNSIDE SEEN



LTC/USD

The price of Litecoin has been decreasing since yesterday’s high at $44 and made a downfall of 7.21% coming to $40.81 at its lowest point today slightly above which it is currently being traded.



On the hourly chart, you can see that the price has fallen below the significant horizontal level at $41.7 and entered the territory of the 1st wave from the previous five-wave impulse count. That five-wave impulse to the upside ended on the 9th of July after which we have seen another five-wave move to the downside which indicates that that previous structure has ended as an ABC to the upside and that the next one of a higher degree to the downside has started.

Continue reading... https://www.fxopen.blog/ltc-and-eos-impulse-to-the-downside-seen/

[FXOpen_broker]

BTC AND XRP – BULLISH BREAKOUT SEEN



BTC/USD

The price of Bitcoin has risen by 2.37% from yesterday’s low at $9163 coming to $9380 at its highest point today. The price is now being traded around those levels and is still in an upward trajectory.



Looking at the hourly chart, you can see that a breakout has been made from the symmetrical triangle in which the price was bouncing from the 1st of June which a highly significant breakout. But there is yet to see confirmation as the price managed to move above it several times and its resistance levels haven’t been that much respected. This is why now we are most likely to see a move to the downside as a retracement back to some of the broken resistance levels for a retest of support before the upward trajectory would continue.

Continue reading... https://www.fxopen.blog/btc-and-xrp-bullish-breakout-seen/

[FXOpen_broker]

LTC AND EOS – MORE UPSIDE EXPECTED



LTC/USD

The price of Litecoin has increased by 10.56% from its lowest point on Monday at $41.46 measured to its highest point made today which was at $45.847 but the price only spiked to those levels and has pulled back immediately to $44.7. Since then another upside move has been made with the price currently being traded at $45.257 and is in an upward trajectory.



On the hourly chart, you can see that the price of Litecoin has been increasing parabolically and impulsively after an interaction with the $41.714 horizontal support level which was retested on Monday and on the 16th of July. As the price was attempted to be pushed below the level the bulls took control and the buying pressure was activated which is why we have seen it causing another round of buying.

Continue reading... https://www.fxopen.blog/ltc-and-eos-more-upside-expected/

[FXOpen_broker]

BTC AND XRP – IMPULSIVE INCREASE LIKELY ENDED



BTC/USD

From last week when the price of Bitcoin was sitting at $9145 at its lowest point on Monday, we have seen an increase of 24.31% measured to the highest point the price has been today which is the spike made at $11368. Since then we have seen a 4.58% retracement with the price currently sitting around $10953 and is in a downward trajectory.



Looking at the hourly chart, you can see that a strong parabolic move was made to the upside breaking out from every significant resistance point along the way out of which the most significant one is the further at around $10500 level where the last ascending trendline is. As these breakouts occurred without proper retracements that had to serve as a retest of the broken resistance for support and we have seen only local pullback the move to the upside is considered an unsustainable one and is likely going to be equally impulsive on the downturn going back below some of the presumed support levels.

Continue reading... https://www.fxopen.blog/btc-and-xrp-impulsive-increase-likely-ended/

[FXOpen_broker]

LTC AND EOS – CORRECTION DEVELOPING BUT MORE UPSIDE TO COME



LTC/USD

The price of Litecoin has increased by 40.44% from last week when it was sitting at $41.355 at its lowest point measured to the highest spike it made on Tuesday when it reached $58 at its highest. Since then we have seen a retracement of around 7% with the price falling to $54 but is currently being traded slightly higher although in a downward trajectory.



On the hourly chart, you can see that from last week’s low made on Tuesday when the price made an interaction with the $41.714 level an impulsive parabolic move to the upside has been made in a steep manner. As the price found support at the mentioned level after making a minor spike below it, the buying was activated and pushed the price first into an initial five-wave impulse which could have been a C wave from the corrective count but instead after a local retracement continued to move impulsively to the upside breaking the $50 area resistance and continuing strongly above the $52 area as well.

Continue reading... https://www.fxopen.blog/ltc-and-eos-correction-developing-but-more-upside-to-come/

[FXOpen_broker]

BTC AND XRP – DOWNTREND INDICATED



BTC/USD

From last Monday the price of Bitcoin increased by 22.56% as it came up from $9867 measured to it’s highest point on Sunday at $12093 at its highest point, but since then made a decrease of 12.74% as it fell to $10542 at its lowest spike on the same day. From there the price has quickly snapped back above $11000 and after another retest started making a slight recovery coming to $11427 made at its highest yesterday. At the moment the price is hovering slightly lower at $11233 and is in a downward trajectory.



Looking at the 15 min chart, we can see that on Sunday a sharp impulsive decrease was made with the price falling through all the support levels previously broken on the move to the upside out of which the most significant one was the uptrend resistance which is the upper level from the unconfirmed ascending channel in which the price was ranging from the 7th of May.

Continue reading... https://www.fxopen.blog/btc-and-xrp-downtrend-indicated

[OneChain]

So who will win in the end?

[FXOpen_broker]

BTC AND XRP – CORRECTIVE RANGE LIKELY TO GET BROKEN



BTC/USD

From last Thursday when the price of Bitcoin fell down to around $11200 level which was the lowest price has been since the 12th of August, we have seen an increase of 6.83% as the price came up to $11967 at its highest point today at which its currently being traded. The price is in an upward trajectory and is showing strong bullish momentum.



On the hourly chart, you can see that the price broke out from the major horizontal resistance points and isn’t showing any signs of struggle with the last rise from today’s low at $11551 being parabolic. With the price making a higher high compared to the previous B wave of the lower degree ABC correction to the downside we are most likely seeing the beginning of the higher degree upside move after the WXY correction ended last week.

Continue reading... https://www.fxopen.blog/btc-and-xrp-corrective-range-likely-to-get-broken/

[FXOpen_broker]

BTC AND XRP IN A SIDEWAYS RANGE



BTC/USD

The price of Bitcoin has fallen by 18% from last Monday’s high at around $12074 measured to its lowest point made on Sunday at around $9860 which was retested again yesterday. From yesterday’s low, the price started increasing again and made a higher high but we currently seeing a minor retracement with the price looking for support around $10173 area.



On the hourly chart, you can see that the price is testing the 0.382 Fib level at the moment for support and is likely to find the support there if we have seen the completion of the descending move and the beginning of a recovery of a higher degree.

Continue reading... https://www.fxopen.blog/btc-and-xrp-in-a-sideways-range/

[TheGetFreelacey]

Good stuff, FXOpen

[FXOpen_broker]

LTC AND EOS – UPWARD MOMENTUM SLOWING DOWN



LTC/USD

Since the start of the month, the price of Litecoin has decreased by 29.33% as it fell from $64.4 high made on September 1st to $45 area on the 4th and revisited the low level two more times after. Currently, it is being traded at around $48.5 and is in an upward trajectory but a minor retracement has been made with the price showing signs of the momentum slowing down.



Looking at the hourly chart, you can see that the price is again retesting the horizontal resistance level at around $49.106 were it found resistance two previous times and after the interaction pulled back to the low levels made last Friday. This is a significant horizontal level and its breakout to the upside would indicate that the previous descending move that we have seen has likely ended.

Continue reading... https://www.fxopen.blog/ltc-and-eos-upward-momentum-slowing-down/

[FXOpen_broker]

BTC AND XRP – BULLISH PRICE ACTION SEEN



BTC/USD

From last week when the price of Bitcoin was trading at around $9950 at its lowest point, we have seen an increase of 8.86%. This is measured to the current price point at $10816.9 which is the highest price has been this week. The price is an upward trajectory with strong bullish momentum as it started spiking by 1.69% today coming from $10637 daily low to the current high.



On the hourly chart, you can see that the price made a breakout from last week’s descending triangle after a third retest of the $10000 zone. As the price found support there and a couple of dips below it found the initial price chase as it activated buying we have seen an impulsive move to the upside. It first came to retest the triangle’s high level forming a minor cup and handle. The handle which was formed from last Thursday to Monday low was indicative of further price growth.

Continue reading... https://www.fxopen.blog/btc-and-xrp-bullish-price-action-seen-2/

[FXOpen_broker]

BTC AND XRP – ASCENDING TRIANGLE BREAKOUT AHEAD



BTC/USD

Since the start of the week, we have seen the price of Bitcoin increasing to $10950 area which was its highest point yesterday. But since then the price made a decrease of 2.74% and fell to $10685 at its lowest point. Currently, we are seeing the price in an upward trajectory and being traded at $10793 with it looking like the increase is likely to continue.



On the hourly chart, you can see that from last week’s Thursday when the price came down to $10240 level and even spiked further down, we have seen bullish price action with the price coming up by around 7% measured to the yesterday’s high. As it came up to retest the previous lower degree horizontal level that served as support but was broken on the 21st of September it made an ascending triangle. Yesterday’s high could be considered as a fakeout with the price attempting to break its resistance level but a slight move above it pushed the price impulsively to its support level immediately after.

Continue reading... https://www.fxopen.blog/btc-and-xrp-ascending-triangle-breakout-ahead/

[FXOpen_broker]

LTC AND EOS – UPSIDE EXPECTED



LTC/USD

Last week, on Wednesday, September 23rd, the price of Litecoin came down to revisit the September 21st low area and was coming to around $42.5. Since then we have seen the formation of the ascending channel in which the price has been bouncing and now again came to its resistance level for a higher high. At the moment it is being traded at $47.9 which is slightly below todays high but is showing strong bullish momentum as the majority of the increase occurred in two hours.



On the hourly chart, we can see that the price still hasn’t come to test the significant horizontal resistance point at around $49.1 but interaction is likely to occur shortly as it came above the minor horizontal level at around $47. A pullback might happen before the expected interaction in which case another retest of the ascending channels support level could be seen, but considering that the price has surpassed the $45.3 level it could find support around $46 area.

Continue reading... https://www.fxopen.blog/ltc-and-eos-upside-expected/

[FXOpen_broker]

BTC AND XRP – BREAKOUT TO THE DOWNSIDE SEEN



BTC/USD

Last Friday the price of Bitcoin came down to around $10455 area from its second attempt to surpass the $10931 level which ended as a failure. Since this drop of around 4.5% occurred we have seen the formation of an ascending channel in which the price action bounced until today when a minor breakout started developing after the price reached $10818 at its highest.



The price came above its significant horizontal support that served as resistance at around $10700 but it is struggling to keep up the upward momentum. On the hourly chart, we can see that it appears that a breakout is currently being made with the current hourly candle being opened below the channels support level.

Continue reading... https://www.fxopen.blog/btc-and-xrp-breakout-to-the-downside-seen/

[FXOpen_broker]

LTC AND EOS – FURTHER SIDEWAYS MOVEMENT EXPECTED



LTC/USD

The price of Litecoin has been moving sideways since a breakout to the downside was made from the ascending channel last week’s Thursday when it reached $48.5 at its highest peak. A decrease of 8.63% was made measured to the close of the hourly candle but the price moved even further to the downside coming to $43.2 at its lowest. Since last Friday’s low a recovery has been seen with the price coming close to it’s Thursday’s high but a quick spike to the upside ended with an equally strong impulsive move that led the price below its previous upside starting point and retested the $45.3 horizontal level.



Looking at the hourly chart, you can see that from the retest of the horizontal zone another minor recovery has been seen but the price struggled to surpass its minor horizontal resistance at $46.8 and was rejected there once more. A higher low has been made today which could be interpreted as a bullish sign but we are yet to see if the price could catch enough momentum for a breakout to the upside and in a more sustainable uptrend.

Continue reading... https://www.fxopen.blog/ltc-and-eos-further-sideways-movement-expected/

[FXOpen_broker]

BTC AND XRP – ESTABLISHING SUPPORT

BTC/USD

The price of Bitcoin has been increasing since last Thursday when it was sitting at $10539.2 and from there reached $11742 at its highest yesterday which was an increase of 11.42%. From yesterday’s high the price pulled back by 2.6% and is currently being traded at around $11500 level.



On the hourly chart, we can see that last Thursday a breakout was made from the symmetrical triangle in which it was since the yearly high was made and the bullish momentum pushed the price above two significant horizontal levels at $11138.5 and the next one at $11428.3. The upper significant horizontal level correlates with the 0.618 Fibonacci one that is currently being tested for support.

Continue reading... https://www.fxopen.blog/btc-and-xrp-establishing-support/

[FXOpen_broker]

LTC AND EOS – SHOWING UPSIDE POTENTIAL



LTC/USD

From last week’s Thursday when the price of Litecoin was sitting at $45.58 at its lowest points, we have seen an increase of 13.38% measured to the highest point the price has been this week at $51.68. Since Monday’s high a pullback developed to the significant horizontal resistance level at $49.106 which was broken on the way up and the price is currently testing it for support.



On the hourly chart, you can see that the price made an interaction today with the mentioned significant horizontal support and from the current candle it appears that the support is going to be present at those levels. More so this pullback should be a corrective one as the 4th wave out of the five-wave impulse to the upside would develop fully, further higher highs would be expected.

Continue reading... https://www.fxopen.blog/ltc-and-eos-showing-upside-potential/

[FXOpen_broker]

BTC AND XRP – PRICES BREAKOUT WITH FURTHER APPRECIATION LOOKING AHEAD



BTC/USD

The price of Bitcoin has been increasing from last Friday when it was sitting around $11221 at its lowest and reached $11847 at its highest today which is an appreciation of 5.58%. Currently, we have seen a minor pullback but the price is still in an upward trajectory indicating strong bullish momentum.



On the hourly chart, you can see that a breakout was been made above the prior high made last week on Monday and the price is now retesting its levels for support. This minor pullback is likely the 4th wave out of the lower degree impulse wave which is why another increase would be expected from here before a more significant one. That correlates with the current rest on the support level as the price is likely to finds support here.

Continue reading... https://www.fxopen.blog/btc-and-xrp-prices-breakout-with-further-appreciation-looking-ahead/

[FXOpen_broker]

LTC AND EOS – SHOWING STRONG BULLISH MOMENTUM



LTC/USD

From last week when the price of Litecoin was sitting at $46.3 level at its lowest, we have seen an increase of 21.64% as the price came up to $56.32 at its highest point today. Now it is being slightly lower but we have seen strong bullish momentum behind the price action and is still in an upward trajectory.



Continue reading... https://www.fxopen.blog/ltc-and-eos-showing-strong-bullish-momentum/

[FXOpen_broker]

BTC AND XRP – INCREASE SEEN BUT COULD STILL BE CORRECTIVE



BTC/USD

From yesterday’s low at $12771 the price of Bitcoin has increased by around 5% as it reached slightly below $13400 where it’s currently being traded. The price is in an upward trajectory after some days of consolidating but as it was doing so in an ascending range this could be the continuation of that ascending structure.



Looking at the hourly chart, you can see that the price of Bitcoin made a rise above the prior attempt for a breakout when the price came above the 1.272 Fibonacci level. As now we are seeing an impulsive move above the Fib level again it could be an early indication that a breakout to the upside is being made. On the other hand, there is still a possibility that the price is continuing to form its ascending channel as this move could end as a third interaction with its resistance level.

Continue reading... https://www.fxopen.blog/btc-and-xrp-increase-seen-but-could-still-be-corrective/