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

[FXOpen_broker]

LTC AND EOS – CONSOLIDATING BEFORE FURTHER UPSIDE



LTC/USD

From yesterday’s high at $60.28 the price of Litecoin has decreased by 9.14% as it came down to the $54.8 level at its lowest point today. The price is currently being traded around $55.84 but is in a downward trajectory overall.



Looking at the hourly chart, we can see that the price came down today to 0.236 Fibonacci level and was supported there. Since this bounce, the price came back to the upper Fib level at 0.382 and has now started testing the ascending trendline from the corrective range for support.

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

[FXOpen_broker]

BTC AND XRP – BULLISH POTENTIAL STILL PRESENT BUT A PULLBACK LIKELY TO DEVELOP FIRST



BTC/USD

The price of Bitcoin has increased since yesterday’s low at $13206 to $13703 where it is currently being traded. This is a 4.16% recovery after the price fell from slightly above the $14000 level which was interacted with on Saturday. As the interaction ended as a rejection another pullback has been seen but again high at a higher low compared to the one made last Thursday which is still bullish.



On the 4-hour chart, we can see that the interaction with the $14000 level was a retest of the last year’s highest point made on June 26th and was the second one. Since we have seen another failure for a breakout the price has started moving sideways but is still showing bullish signs with higher lows being made. Now that it made an interaction with the $13207 level spiking to the downside for its retest another upward movement has been seen, but it could be a corrective one. This is especially considering the descending trendline which is being formed and with whom we are currently seeing an interaction.

Continue reading... https://www.fxopen.blog/btc-and-xrp-bullish-potential-still-present-but-a-pullback-likely-to-develop-first/

[FXOpen_broker]

LTC AND EOS – BULLISH MOMENTUM PICKS UP



LTC/USD

From yesterday’s low at $51.7 the price of Litecoin has increased by 8.27% coming to $55.89 at its highest point today. Now the price is being traded slightly lower at around $55.5 but is still showing strong bullish momentum and is in an upward trajectory.



On the hourly chart, you can see that the price of Litecoin made an interaction with the 0 Fibonacci level at $51.67 on Tuesday from which it bounced but fell again yesterday for the second retest. As this second interaction ended by validating the support once more, a stronger move to the upside was seen. The price managed to move back up above the 0.236 Fibonacci line which served as another horizontal support level but was broken in a move to the downside.

Continue reading... https://www.fxopen.blog/ltc-and-eos-bullish-momentum-picks-up/

[FXOpen_broker]

BTC AND XRP – PRICES REACH SIGNIFICANT HIGHS BUT A DOWNTURN LIKELY SOON TO START



BTC/USD

The price of Bitcoin has been decreasing since yesterday when it came up to $19787 at its highest point. Another spike to that level was made today after some sideways movement followed by a shart decline to $18059 at its lowest point today which was a decrease of 9.35%. Since then recovery has been made with the price currently being traded at $19407.



On the hourly chart, we can see that the price made it past the upper horizontal level which labels the all-time high from December of 2017. A new all-time high was made effective as the price slightly exceeded its utmost upper level of 2017, but since it entered the seller’s territory we have seen strong pressure on the price, which was pushed it strongly to the downside.

Continue reading... https://www.fxopen.blog/btc-and-xrp-prices-reach-significant-highs-but-a-downturn-likely-soon-to-start/

[FXOpen_broker]

LTC AND EOS – FINAL PUSH TO THE UPSIDE COMING?



LTC/USD

From last Thursday, November 26th when the price of Litecoin was sitting at the $65 level, we have seen an increase of 42.64% measured to its highest point at $92.664 made on Tuesday. Since then the price has been moving sideways, spiking to the downside at first but then making a series of lower highs. Currently, it is being traded $90 and is starting to move to the upside again.



On the hourly chart, you can see that the price formed a symmetrical triangle from Tuesday’s high around the significant horizontal level at $86.486. Now we are seeing an attempt for a breakout to the upside after the price reached its apex.

Continue reading... https://www.fxopen.blog/ltc-and-eos-final-push-to-the-upside-coming/

[FXOpen_broker]

BTC AND XRP – CONSOLIDATION SEEN BUT A BREAKOUT LIKELY STARTED



BTC/USD

The price of Bitcoin has been moving sideways since the 1st of December when it reached a new all-time high, spiking above the $19,677 level. Since then we have seen the formation of a descending triangle with the price now going back to its support level and has been testing it for support once again. Currently, it is being traded at around $18,819.



On the hourly chart, you can see that the price is finding support on the current interaction and has closed the hourly candle above it with now forming a green one. This could be an early indication that the price found support there and is now going to make a bounce. The triangle we have seen form could be the consolidative 4th wave out of the five-wave impulse to the upside that started on the 26th of November.

Continue reading... https://www.fxopen.blog/btc-and-xrp-consolidation-seen-but-a-breakout-likely-started/

[FXOpen_broker]

LTC AND EOS – DESCENDING CHANNEL ENDING SOON



LTC/USD

The price of Litecoin has been decreasing since the start of the month when it came up to $93. Measured to its lowest point of the month made yesterday at $74.45 we have seen a decrease of 20%. The price is currently being traded around the levels of yesterday’s low, but it appears that it found support there and is now looking to start increasing again.



On the hourly chart, you can see that the price of Litecoin formed a descending channel from the start of the month with yesterday’s low being a retest of its support level. Now as the price has managed to stay on the same levels as on its lowest yesterday and didn’t make a lower one, before finding some support we could be seeing the start of the upside move that is to propel the price at least to the channels resistance level.

Continue reading... https://www.fxopen.blog/ltc-and-eos-descending-channel-ending-soon/

[FXOpen_broker]

BTC ENCOUNTERS RESISTANCE WHILE XRP FINDS SUPPORT

BTC/USD

The price of Bitcoin has been increasing from last Friday when it was sitting at $17,570 at its lowest point and came up by around 11.4% measured to its highest point today at $19,570. Now the price is being traded at $19,316 as it fell from today’s high and is now making a recovery.



On the hourly chart, you can see that this is a struggle for the price to keep up its bullish momentum above the lower horizontal level at $19,191 which represents the daily candle close from the 2017 all-time high. Since the start of the month, we have seen the price in a decline, forming a descending channel from the 1st of December. Last Friday the price found support on the 0.618 Fib level and started increasing again, breaking out from this descending formation and coming above the significant lower horizontal level.

Continue reading... https://www.fxopen.blog/btc-encounters-resistance-while-xrp-finds-support/

[FXOpen_broker]

BTC AND XRP – CORRECTION DEVELOPING BUT FOR HOW LONG?



BTC/USD

The price of Bitcoin has continued increasing from last week and came to $24,310 at its highest points yesterday from which it decreased by 10.11% at first, but is now making a recovery and is currently sitting at $23,478 level. This minor pullback we have seen yesterday could have been the beginning of the higher degree descending move as the prior impulse to the upside ended but since the price is starting to increase again we are yet to see.



On the hourly chart, you can see that it came up in a five-wave manner from the 11th of December when it was sitting at $17,500 at its lowest point which was a higher low compared to the one made on the 26th of November.

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

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[FXOpen_broker]

BTC AND XRP – CONSOLIDATION DEVELOPING BUT FOR HOW LONG?

BTC/USD

The price of Bitcoin has been in a decline since Sunday when it reached $34,716 at its highest point. We have seen a downfall to $30,367 but the price spiked further to $27,774 at its lowest wick before snapping back above the 0 Fib level. Currently, it is being consolidated above it and is moving sideways, sitting at $31,901 and is in an upward trajectory.



Looking at the hourly chart, we can see that the price completed another five-wave impulse to the upside that started on the 21st of December. This rise was most likely the ending wave of the higher degree count which is why now we are seeing some consolidation. The price action may continue to move sideways for some time now but if the 5th wave of a higher degree is in, then the price is now likely to decline further in a corrective manner.

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

[FXOpen_broker]

LTC AND EOS – ESTABLISHING SUPPORT BEFORE NEW HIGHS



LTC/USD
The price of Litecoin has been increasing since last week and came up from $124.2 at its lowest point on Saturday to $170 at its highest on Monday. This week has started with a pullback to $147.2 but the price is back on the same levels as on Monday.



Looking at the hourly chart, you can see that the price made an interaction with the horizontal resistance found at the $170 level and fell back to its ascending trendline. As it found support there again it is currently making another breakout attempt.

Continue reading... https://www.fxopen.blog/ltc-and-eos-establishing-support-before-new-highs/

[FXOpen_broker]

BTC AND XRP – HAS THE CORRECTION ENDED?



BTC/USD
From yesterday’s low at $30,340 the price of Bitcoin has increased by 20.71% as it came to $36,743 at its highest point today. Since then it has made a minor retracement and is currently sitting at around $35,340 and is in a downward trajectory.



Looking at the hourly chart, you can see that the price increase that ended on Friday was the ending wave from the higher degree count. This is why now we are seeing the development of the five-wave descending move. As it might have ended the price would now be expected to recover but as this is most likely the beginning of the descending move from the downside we are to see the downtrend continuation after the recovery has been made.

Continue reading... https://www.fxopen.blog/btc-and-xrp-has-the-correction-ended-3/

[FXOpen_broker]

BTC AND XRP – PRICES CONTINUE TO RISE



BTC/USD

The price of Bitcoin has been moving sideways since last week as it came up to $40,000 area but then fell to $33,813 at its lowest point yesterday. This occurred after recovery and now we are seeing another minor one with the price reaching $37,486. Currently, it is being traded slightly lower but is still in an upward trajectory.



Looking at the 4 hour chart, you can see that the price made it slightly below the 0.382 Fib level on Sunday’s low but managed to pull back up above it. This could indicate that support has been found but we are still yet to see if it manages to exceed the local high at the 0.618 Fib level.

Continue reading... https://www.fxopen.blog/btc-and-xrp-prices-continue-to-rise/