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

[FXOpen_broker]

LTC AND EOS – RESISTANCE FOUND



LTC/USD

The price of Litecoin has reached $282 at its highest point yesterday and after a minor retracement made it back to that area again today. Currently, it is being traded at $271.89 and is looking like it’s moving to the downside



On the hourly chart, we can see that the price of Litecoin was in an uptrend from the 25th of March when it was traded at $167. Measured to its highest point yesterday that was an increase of 68.8% but what more significant is that it made a higher high compared to the one on the 20th of February. This is why the increase from the 25th is considered the 3rd wave from the higher degree five-wave count. The wave structure implies that it might have ended and considering that we have seen the formation of the ascending channel from the start of the year now a pullback all the way down to its support might occur.

Continue reading... https://www.fxopen.blog/ltc-and-eos-resistance-found/

[FXOpen_broker]

BTC AND XRP – RECOVERY SEEN BUT FURTHER DOWNSIDE EXPECTED

BTC/USD

The price of Bitcoin has fallen by 20.4% measured from its all-time high of $64,791 made on the 14th of April to its lowest wick on the 17th when the price came down to $51,531. From there we have seen a recovery to $57,702 but then again the price started falling back down and is currently being traded at around $55,980.



On the hourly chart, you can see that the price made the majority of its decrease on the 17th which was the 5th wave from the descending impulse. This could be the first sub-wave of the higher degree downturn that we are to see in the market.

Continue reading... https://www.fxopen.blog/btc-and-xrp-recovery-seen-but-further-downside-expected/

[FXOpen_broker]

LTC AND EOS – ARE WE SEEING THE ESTABLISHMENT OF AN UPTREND?



LTC/USD

The price of Litecoin has been on the rise since Tuesday when it fell to $234 at its lowest point. It is currently being traded at $281 which is an increase of 21.45% from Tuesday and is still in an upward trajectory.



On the hourly chart, you can see that the price of Litecoin is currently sitting at the level of its Monday’s high and has found resistance, indicated but the wick on the seller’s side on the hourly candle. However, we have seen a breakout from the descending triangle which is why the momentum looks strong enough to push the price higher.

Continue reading... https://www.fxopen.blog/ltc-and-eos-are-we-seeing-the-establishment-of-an-uptrend/

[Desi7892]

Where do you expect the price of BTC to go by the end of 2021?

[FXOpen_broker]

LTC AND EOS – BREAKOUT SEEN BUT WOULD IT BE CONFIRMED?



LTC/USD

The price of Litecoin has been on the rise since the 26th of April when it fell down to $211. From there we have seen an increase of 26.4% as it came up to $266.6 at its highest point. It started moving sideways from yesterday’s high and is currently sitting slightly lower but is in an upward trajectory overall.



On the hourly chart, we can see that the price has started breakout out from the symmetrical triangle in which it was since yesterday’s high. This could be an early indication that the price is now headed further up. However, a confirmation is needed which could come as the hourly candle close above the territory of the symmetrical triangle and then a successful retest of its resistance for support.

Continue reading... https://www.fxopen.blog/ltc-and-eos-breakout-seen-but-would-it-be-confirmed/

[FXOpen_broker]

BTC AND XRP – RETRACEMENT SEEN BUT FURTHER UPSIDE EXPECTED



BTC/USD

The price of Bitcoin has been on a decline from yesterday’s high at $59,000 and has made a 6.69% decrease measured to its lowest point today at $55.084. Now it is sitting slightly higher but is again looking like its struggling to keep up the recovery.



On the hourly chart, you can see that the price of Bitcoin was on the rise since the 26th of April when an ascending triangle was made. Yesterday, we saw a breakout to the downside from the triangles support, which could imply that this ascending move ended as the five-wave increase. If this is true then the five-wave move was most likely a leading diagonal from the next impulsive move to the upside as the previous correction of the higher degree ended.

Continue reading... https://www.fxopen.blog/btc-and-xrp-retracement-seen-but-further-upside-expected/

[FXOpen_broker]

ETHEREUM AT RECORD HIGHS AS THE CRYPTOCURRENCY TRADERS DIVERSIFY FROM BITCOIN



The cryptocurrency market appears to have reached a point where investors look beyond Bitcoin. Up until recently, Bitcoin was the only game in town, responsible for the overall movements in other crypto coins.

However, things changed dramatically as Ethereum has recovered faster than Bitcoin from last month’s move lower. Investors may remember that Bitcoin dropped from over $60k to $47k in less than 24h, creating a similar move in most altcoins. However, it recovered but was not able to make a new high. Ethereum did and now trades above $4,000 for the first time in history.



Inflation in the United States is expected to rise in the months ahead. As such, commodity prices are close to record highs. Lumber, for example, rose over 500% in the last twelve months, and so are basic food commodities such as corn. Gold recovered from below $1,700 and now trades above $1,830, acting as a classic hedge against inflation.

Continue reading... https://www.fxopen.blog/ethereum-at-record-highs-traders-diversify-from-bitcoin/

[FXOpen_broker]

BTC AND XRP – CORRECTION LIKELY TO CONTINUE



The price of Bitcoin reached $59,544 at its highest point yesterday from its prior higher low of $53,170 on the 5th of May. This rise of 12.24% was stopped as the third unsuccessful attempt to surpass the zone above the $60,000 which is why we have seen a decrease of 10% measured to its lowest spike of $53,530. Currently, the price is being traded at around $55,440 as it managed to snap back quickly up above the significant horizontal level.



Now the price is looking for support as the breakout momentum has been seen strong. The descending move is counted as the second sub-wave of the higher degree count out of which further upside would be expected. However, we need to first see the price to hold above the $55,200 area for the scenario to still be valid. If the price goes below it, that would be an early indication that we are seeing further lows before another upward cycle.

Continue reading... https://www.fxopen.blog/btc-and-xrp-correction-likely-to-continue/

[FXOpen_broker]

LTC AND EOS – CONSOLIDATION NOW EXPECTED BUT FURTHER DECLINE STILL A POSSIBILITY



LTC/USD

The price of Litecoin has been on a decline from yesterday’s high of $391 made a decrease of 21.8% as it fell to $306.35 at its lowest point today. It spiked further down buy managed to snap back quickly and is currently being traded at $313.69.



Looking at the hourly chart, you can see that this downfall was the continuation of the descending move from Monday when the price reached $411 at its highest. This was most likely the end of the higher degree 3rd wave from the impulse wave that started at the start of the year. If so, we are now seeing the 4th wave of the same degree developing to the downside. Measured from its last increase from the 26th of April the price fell down to the 0.5 Fib level and found support there. But this only might be a temporary hold before further downside continuation.

Continue reading... https://www.fxopen.blog/ltc-and-eos-consolidation-now-expected-but-further-decline-still-a-possibility/

[FXOpen_broker]

BTC AND XRP – FURTHER DOWNSIDE LOOKS MORE LIKELY



BTC/USD

The price of Bitcoin has been on a decline since the 10th of May when it reached a high of $59,512. From there we have seen a decrease of 29.3% so far as it fell down to $42,180 at its lowest point. It is currently retesting those low levels for support and it appears to have stabilized as it made another attempt to continue its downward trajectory but bounced off of the low levels. Now it is moving slightly to the upside and is being traded at $44,923.



Looking at the hourly chart above, we can see that this down move from the 10th is the continuation of the decrease that started from the 14th of April after the price reached a new all-time high. As it is most likely the 3rd sub-wave of the corrective ABC this could mean that the descending move has ended on the current interaction with the significant horizontal support zone.

Continue reading... https://www.fxopen.blog/btc-and-xrp-further-downside-looks-more-likely/

[FXOpen_broker]

LTC AND EOS – HAVE WE SEEN THE COMPLETION OF THE DOWNFALL?



LTC/USD

The price of Litecoin has been on a decline since the 10th of May when it reached $413 at its highest point. From there we have seen a decrease of 64.88% as it fell to $145 at its lowest point yesterday. We have seen a recovery taking place with the price currently being traded at $211 and is still in an upward trajectory.



On the hourly chart, you can see that the price has made a lower low today, compared to yesterday’s candle close, and is now still above yesterday’s high. This is still a negative sign even though recovery has been seen. We could bee saw the 4th corrective wave out of the five-wave impulse to the downside from the 16th which is still in development. If this is true then the price would be headed downwards after this increase ends for another establishment of support around the $165 area.

Continue reading ... https://www.fxopen.blog/ltc-and-eos-have-we-seen-the-completion-of-the-downfall/

[FXOpen_broker]

BTC AND XRP – STARTING IMPULSE TO THE UPSIDE LIKELY DEVELOPING



BTC/USD

The price of Bitcoin has recovered significantly from Sunday’s low of around $32,000 as it made an increase of 27% measured to its highest point today at $39.723. Since then we have seen a minor pullback with the price currently being traded at $37,896 and moving to the downside again.



On the hourly chart, you can see that the price made a five-wave increase from Sunday and came slightly above the significant horizontal level that served as support now turned resistance. This is why the price struggled to keep up its upward trajectory and is now headed to the downside again.

Continue reading... https://www.fxopen.blog/btc-and-xrp-starting-impulse-to-the-upside-likely-developing/

[FXOpen_broker]

LTC AND EOS – AT KEY TURNING POINT



LTC/USD

The price of Litecoin has been on the rise since the 23rd when it fell down to $128.32 at its lowest point. From there we have seen an increase of 58% measured to its highest point yesterday at around $203. Since then a minor pullback was made but the price is once again in an upward trajectory and is currently being traded at $196.3.



On the hourly chart, you can see that from the 23rd of May we have seen an impulsive five-wave move after which the price started consolidating. It did so in a three-wave manner which is most likely the 2nd sub-wave of the next higher degree impulse to the upside. We have seen the completion of a 3-3-5 move with a higher low made today compared to the one on the 25th as the first pullback which validated that the support is getting higher and that buyers are stepping in.

Continue reading... https://www.fxopen.blog/ltc-and-eos-at-key-turning-point/

[FXOpen_broker]

LTC AND EOS – INDECISION



LTC/USD

The price of Litecoin has bee on the rise since the 30th of May again after it came down to $157.3 from $207. It reached today $197 at its highest point and is now making a minor pullback.



We have seen the start of the recovery from the 23rd when it fell all the way down to $127 and even lower on the wick to the downside. This is why the recovery seen from there could be the start of the next impulsive move to the upside that is now going to develop in a five-wave manner. On the other hand, this could be another corrective stage with the price making some kind of an ABC correction after further downtrend continuation.

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

[FXOpen_broker]

BTC AND XRP – BREAKOUT SEEN WITH FURTHER DOWNSIDE EXPECTED



BTC/USD

The price of Bitcoin has been on a decline since yesterday and from its high at $36,742 made a decrease of 11.67% measured to its lowest point today at $32,455. Currently, it is sitting at $32,850 as a minor recovery was made but the picture still looks breaking with more downside expected.



Looking at the hourly chart, you can see that the price has made a continuation of the descending move from the 3rd of June. A breakout was made from the ascending support on the 5th after which a test of prior support for resistance. As resistance was present the price continued moving further to the downside and breaking out from the horizontal levels. This is most likely the development of the 3rd wave out of the higher degree five-wave impulse that started on the 3rd of June.

Continue reading... https://www.fxopen.blog/btc-and-xrp-breakout-seen-with-further-downside-expected/

[FXOpen_broker]

LTC AND EOS – CORRECTION COULD HAVE ENDED BUT FURTHER CONFIRMATION IS NEEDED



LTC/USD

The price of Litecoin has been on the rise since Tuesday when it fell down to $144.36. From there we have seen an increase of 21.5% measured to its highest point today at $175. A minor pullback was made but again a rise with the price currently sitting slightly lower than its highest point today.



On the hourly chart, you can see that the price of Litecoin is still in a descending triangle from the 26th of May. Another interaction with its resistance level could be expected during the day as the 5th wave from the starting five-wave impulse from Tuesday. This could be the start of the higher degree upward move after the three-wave correction ended on the 8th in which case after a retracement we are to see a breakout from the upside.

Continue reading... https://www.fxopen.blog/ltc-and-eos-correction-could-have-ended-but-further-confirmation-is-needed/

[FXOpen_broker]

BTC AND XRP – RECOVERY COULD END SOON



BTC/USD

The price of Bitcoin has been on the rise since the 8th of June when it fell to the $31,000 zone again. From there we have seen an increase of 31% measured to its highest point yesterday at $40,750. Now it is being traded slightly lower but is still in an upward trajectory overall.



You can see that the price fell for the third time to the $31,000 zone on the 8th of June on the hourly chart. This was done in a three-wave manner from the May 26th high but also from its June 3rd high. This creates a problem in counting waves as there isn’t still a clear sign that the price bottomed out. However for now we can assume that the price found support again on the 8th after which we have seen an impulsive rise. This could be an indication that we have seen the start of a new wave to the upside which is set to recover the price more significantly.

Continue reading... https://www.fxopen.blog/btc-and-xrp-recovery-could-end-soon/

[FXOpen_broker]

LTC AND EOS – WAS THE CORRECTION OVER?



LTC/USD

The price of Litecoin has been in recovery from the 8th of June when it fell to around $146 at its lowest point. From there the price went on to form a higher low and higher high to $180 area, breaking out from the symmetrical triangle in which it was since the 27th of May. Today we have seen a pullback as a retest of the prior resistance for support, and as support was present we have seen a bounce from there. Currently, the price is being traded at $172.5 area and is still moving in an upward trajectory.



Looking at the hourly chart you can see that the price of Litecoin most likely ended its corrective stage on the 8th of June. This could have been an ABC correction from the 27th of May when the first impulsive move was seen. If so, then from the 8th we have seen the start of another impulse wave to the upside. Another possibility in a positive scenario could be that the price made a five-wave correction count ABCDE to the 12th of June from where the next impulse started. In that case the price has made a three-wave increase with the today seen pullback being its 4th wave out of the five-wave impulse.

Continue reading... https://www.fxopen.blog/ltc-and-eos-was-the-correction-over/

[FXOpen_broker]

LTC AND EOS – FURTHER LOWS EXPECTED



LTC/USD

The price of Litecoin reached $148 on the 4th of July which was the same level as on the prior high. From there we have seen the start of a descending move and is currently being traded at $130 and is still in a downward trajectory.



On the hourly chart, you can see that the price broke out from the ascending support level from the 22nd of June. This is the first signal that the prior recovery ended and now we have seen the start of a descending move of the same degree as the one that lasted from the 22nd of June till the 4th of July.

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

[FXOpen_broker]

BITCOIN GIVES BACK ITS 2021 GAINS – WHAT NEXT?



Bitcoin started the year around $30,000, and now the level acts as support. The euphoria surrounding the cryptocurrency market ended with a 50% decline in the price of Bitcoin and, in some cases, with more.

In the first quarter of the year, Tesla announced that it invested $1.5 billion into Bitcoin. Moreover, it said that it would accept payments for its vehicles in Bitcoin.

The announcement led to massive buying into the crypto space as numerous altcoins entered the bullish territory. As such, Bitcoin rose from $30,000 to over $60,000.

Investors viewed Tesla’s announcement as a sign of further adoption of the cryptocurrencies, thus the bullish run. However, a couple of months later, Tesla announced it had sold some of its Bitcoin holdings and booked a profit just before the end of the first quarter. In fact, the company made a profit on the quarter only from selling carbon credits and some of its Bitcoin holding

Continue reading... https://www.fxopen.blog/bitcoin-gives-back-its-2021-gains-what-next/

[FXOpen_broker]

LTC AND EOS – UPSIDE EXPECTED BUT COULD BE CORRECTIONAL



LTC/USD

The price of Litecoin was on the rise from yesterday and came up by 6% from its low of $124.3 to $131.8 at its highest point today. We have seen a minor pullback to $127.6 and currently it started moving to the upside again.



On the hourly chart, you can see that yesterday’s low was the third lower low from the 29th of Jun. This could have marked the completion of the corrective ABC structure after a five-wave impulse from the 22nd of Jun. If this is true then the price is now set to continue moving to the upside in an impulsive manner.

Continue reading... https://www.fxopen.blog/ltc-and-eos-upside-expected-but-could-be-correctional/

[FXOpen_broker]

BTC AND XRP – ONCE AGAIN MOVING TO THE DOWNSIDE



BTC/USD

The price of Bitcoin has been falling downwards and made a decrease of 9.14% from Sunday’s high of $32,289 to its lowest point today at $29,336. It has broken the significant horizontal support zone and is currently interacting with the descending support level from the channel in which it was since the ending days of May.



On the hourly chart, you can see that this is another downfall back to its lows of the 26th of June and is eyeing out the one on the 22nd. This downward trajectory is the continuation of the descending triangle from the start of July which was broken on the downside today. This area is still considered as support so we might see a bounce for another minor recovery but the picture still looks bearish with the price most likely headed further down in the upcoming period.

Continue reading... https://www.fxopen.blog/btc-and-xrp-once-again-moving-to-the-downside/

[FXOpen_broker]

BTC AND XRP – UPWARD MOVE LIKELY ENDED



BTC/USD

The price of Bitcoin has been on the rise since the 20th of July when it fell down to $29.316 at its lowest point. From there we have seen an increase of 38.7% as it came up to $40,679 at its highest point yesterday. Today the price fell down to $36,500 area and is now moving to the upside again, but the downfall of 10% might be indicative of the completion of the prior upward movement.



You can see that the price almost reached its most significant resistance zone at around $41,000 but failed to make interaction. The upward move from the 20th of July was impulsive in sections but the wave structure doesn’t imply a five-wave pattern. Instead, we could be looking at an ABC correction to the upside before the next downward move. The upward movement looks completed either way so now at least a retracement would be expected if not a start of a new downtrend.

Continue reading... https://www.fxopen.blog/btc-and-xrp-upward-move-likely-ended/

[FXOpen_broker]

LTC AND EOS – CORRECTIVE MOVEMENT SEEN





The price of Litecoin has been on the rise from the 20th of July when it fell to $104 at its lowest point. From there we have seen an increase of 35.9% measured to its highest point today at $141.83. This last rise was made after a sharp impulsive decline in a slowly moving manner and even though it is still moving to the downside it barely made it past Monday’s high.



These two signs – slowly moving price after a sharp decline and failure to make a significantly higher high are considered signs of weakness which is why soon a move to the downside would be expected. From the 20th of July have likely seen the completion of the five-wave impulse to Monday’s high. If this is true, then from Monday we have seen the start of the descending move with the rise from Tuesday being its 2nd sub-wave.

Continue reading... https://www.fxopen.blog/ltc-and-eos-corrective-movement-seen/

[FXOpen_broker]

GOOGLE GREEN-LIGHTS CRYPTO ADS



On August 3, Google rolled out its new policy, allowing advertisers to officially offer their cryptocurrency and wallet exchange services online.

The latest set of rules is quite tough. To weed out shadow advertising and crypto fraud, Google requires advertisers to register with the Financial Crime Enforcement Network (FinCEN). ICOs, banned from advertising back in 2018, are still a no-go.

Thanks to this step, the corporation is expected to boost its revenue in the developing sector of digital currencies.

Meanwhile, Ethereum masterminds have begun a countdown to the Thursday launch of the London update on their website. The update will affect how the network handles transaction fees.

Ahead of the update, ETHUSD is showing more positive dynamics compared to BTCUSD.



On July 31, the BTCUSD market had very small trading volumes (see fig. 1) around the 42k level, and the next day, the price showed bearish dynamics with growing volumes. This indicates a weak demand for the coin at a price of 42k and the dominance of supply. The current decline can be stopped by the level of 36k (or something close to it), where, on July 26, the bitcoin price was growing aggressively under pressure from buyers.

Continue reading... https://www.fxopen.blog/google-green-lights-crypto-ads/

[greesdermos]

Both Peercoin and Namecoin broke out during this week. The two crypto-currencies tested their multi-year highs yesterday but have since fallen back a bit.